§ 39-16-16 - Bonds as legal investments. - Rhode Island Statutes

SECTION 39-16-16

   § 39-16-16  Bonds as legal investments.– The bonds are hereby made securities in which all public officers and bodies ofthis state and all municipalities and municipal subdivisions, all insurancecompanies and associations and other persons carrying on an insurance business,all banks, bankers, trust companies, savings banks, and savings associations,including savings and loan associations, building and loan associations,investment companies and other persons carrying on a banking business, alladministrators, guardians, executors, trustees, and other fiduciaries and allother persons, whomsoever who are now or may hereafter be authorized to investin bonds or other obligations of the state, may properly and legally investfunds including capital in their control or belonging to them. The bonds arealso hereby made securities which may be deposited with and shall be receivedby all public officers and bodies of this state, and all municipalities andmunicipal subdivisions, for any purpose for which the deposit of bonds or otherobligations of this state is now or may hereafter be authorized.