§ 1528. Bonds to be legal investments.

127 words·~1 min read·/pa/title-64/chapter-15/1528

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Investments.-- Bonds issued pursuant to this chapter are made securities in which all of the following may properly and legally invest funds, including capital, deposits or other funds in their control or belonging to them:

(1)Government agencies.

(2)Insurance companies.

(3)Trust companies.

(4)Banking associations, banking corporations and savings banks.

(5)Investment companies.

(6)Executors, trustees and other fiduciaries.

(7)Trustees of any retirement, pension or annuity fund or system of the Commonwealth.

(b)Deposits.-- Bonds issued by the authority are made securities which may properly and legally be deposited with and received by a government agency for any purpose for which the deposit of bonds or other obligations of the Commonwealth are authorized by law.

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