262A.11 - BONDS AS SECURITY FOR INVESTMENTS.

        262A.11  BONDS AS SECURITY FOR INVESTMENTS.
         All banks, trust companies, bankers, savings banks and
      institutions, building and loan associations, savings and loan
      associations, investment companies and other persons carrying on a
      banking or investment business, all insurance companies, insurance
      associations, and other persons carrying on an insurance business and
      all executors, administrators, guardians, trustees, and other
      fiduciaries may legally invest any sinking funds, moneys, or other
      funds belonging to them or within their control in any bonds issued
      pursuant to this chapter; provided, however, that nothing contained
      in this section may be construed as relieving any persons from any
      duty of exercising reasonable care in selecting securities for
      purchase or investment.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 262A.11]