§ 160A-560. Bonds legal investments for public officers and fiduciaries. - North Carolina Statutes

§ 160A‑560.  Bondslegal investments for public officers and fiduciaries.

The bonds are hereby made securities in which all public officers andbodies of this State and all municipalities and municipal subdivisions, allinsurance companies and associations and other persons carrying on an insurancebusiness, all banks, bankers, trust companies, savings banks and savingsassociations, including savings and loan associations, investment companies andother persons carrying on a banking business and all other persons whatsoever,except as hereinafter provided, who are now or may hereafter be authorized toinvest in bonds or other obligations of the State, may properly and legallyinvest funds including capital in their control or belonging to them; providedthat, notwithstanding the provisions of any other general or special law to thecontrary, such bonds shall not be eligible for the investment of funds,including capital, trusts, estates or guardianships under the control ofindividual administrators, guardians, executors, trustees and other individualfiduciaries. The bonds are also hereby made securities which may be depositedwith and may be received by all public officers and bodies of this State andall municipalities and municipal subdivisions for any purpose for which thedeposit of bonds or other obligations of this State is now or may hereafter beauthorized. (1951, c. 779, s.15; 1979, 2nd Sess., c. 1247, s. 44.)