§ 36-8-234 — Bonds deemed legal investments and deposits

Bonds issued by the commission under the provisions of this act
are hereby made securities in which the state and all public
officers, municipal corporations, political subdivisions and
public bodies, all banks, bankers, trust companies, trust and
loan associations, investment companies and others carrying on a
banking business, all insurance companies and insurance
associations and others carrying on an insurance business, and
all administrators, executors, guardians, trustees and other
fiduciaries may properly and legally invest any funds, including
capital belonging to them or within their control. The bonds are
also hereby made securities which may be deposited with and may
be received by all public officers and bodies of this state and
all municipalities and political subdivisions for any purpose
for which the deposit of bonds or other obligations is now or
may hereafter be authorized.