63H-8-405. Corporation notes, bonds, obligations -- Legal investments.
200 words·~1 min read·
/ut/title-63h/chapter-8/63h-8-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/12/2015
63H-8-405. Corporation notes, bonds, obligations -- Legal investments.
(1)The notes, bonds, and other obligations issued under the authority of this chapter are securities in which all public officers and public bodies of the state and its political subdivisions, all banks, bankers, savings banks, trust companies, credit unions, savings and loan associations, building and loan associations, investment companies, and other persons 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, pension, profit-sharing and retirement funds, and all other persons who may now or may later be authorized to invest in notes, bonds, or other obligations of the state, may properly and legally invest any funds, including capital belonging to them or within their control.
(2)These notes, bonds, and other obligations are securities that may properly and legally be deposited with and received by any state, county, or municipal officer, or agency of the state for any purpose for which the deposit of notes, bonds, or other obligations of the state is now or may later be authorized by law.
Renumbered and Amended by Chapter 226 , 2015 General Session