§ 142-70. Investment eligibility. - North Carolina Statutes

§ 142‑70.  Investmenteligibility.

Financing contracts enteredinto pursuant to this Article, and any certificates of participation relatingto them, are securities or obligations in which all of the following mayinvest, including capital in their control or belonging to them: publicofficers, agencies, and public bodies of the State and its politicalsubdivisions; insurance companies, trust companies, investment companies,banks, savings banks, savings and loan associations, credit unions, pension orretirement funds, and other financial institutions engaged in business in theState; and executors, administrators, trustees, and other fiduciaries.Financing contracts entered pursuant to this Article, and any certificates ofparticipation relating to them, are securities or obligations that may properlyand legally be deposited with and received by any officer or agency of theState or any political subdivision of the State for any purpose for which thedeposit of bonds, notes, or obligations of the State or any politicalsubdivision is now or may later be authorized by law. (2002‑161, s. 9.)