§ 45-33.2-15 - Bonds and notes as legal instruments. - Rhode Island Statutes

SECTION 45-33.2-15

   § 45-33.2-15  Bonds and notes as legalinstruments. – Bonds and notes issued under the provisions of this chapter are securities inwhich all public officers and public bodies of the state and its politicalsubdivisions, all insurance companies, trust companies in their commercialdepartments, savings banks, cooperative banks, banking associations, investmentcompanies, executors, administrators, trustees, and other fiduciaries mayproperly and legally invest funds, including capital in their control orbelonging to them. These bonds are securities which may properly and legally bedeposited with and received by any state or municipal officer or any agency orpolitical subdivision of the state for any purpose for which the deposit ofbonds or obligations of the state is now or may be authorized by law.