263A.9 - INVESTMENT IN BONDS OR NOTES BY FINANCIAL INSTITUTIONS.

        263A.9  INVESTMENT IN BONDS OR NOTES BY FINANCIAL
      INSTITUTIONS.
         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 or notes
      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, § 263A.9]