§ 160A-480.13. Bonds eligible for investment. - North Carolina Statutes

§ 160A‑480.13. Bonds eligible for investment.

Bonds and notes issued under this Part are hereby made securities inwhich all public officers, agencies, and public bodies of the State and itspolitical subdivisions, all insurance companies, trust companies, investmentcompanies, banks, savings banks, building and loan associations, credit unions,pension or retirement funds, other financial institutions engaged in businessin the State, executors, administrators, trustees, and other fiduciaries mayproperly and legally invest funds, including capital in their control orbelonging to them. These bonds or notes are hereby made securities that mayproperly and legally be deposited with and received by any officer or agency ofthe State or political subdivision of the State for any purpose for which thedeposit of bonds, notes, or obligations of the State or any politicalsubdivision of the State is authorized by law. This section does not apply toany State pension or retirement fund or a pension or retirement fund of apolitical subdivision of the State. (1995, c. 458, s. 1.)