63B-1-316 - Obligations as legal investments -- Deposit of obligations.
63B-1-316. Obligations as legal investments -- Deposit of obligations.
(1) The obligations issued under this part are securities in which all persons andorganizations authorized to invest in any obligations of this state may properly and legally investany funds, including capital belonging to them or within their control.
(2) These obligations are also declared to be securities that may properly and legally bedeposited with, and received by, any state, county, or municipal officer, or agency of the state forany purpose for which the deposit of any obligations of the state is authorized by law.
Renumbered and Amended by Chapter 86, 2003 General Session