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§42-55-20  Notes and bonds as legal investments. –

Published: 2015

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State Affairs and Government


Rhode Island Housing and Mortgage Finance Corporation

SECTION 42-55-20

   § 42-55-20  Notes and bonds as legal

investments. –

The notes and bonds of the corporation shall be legal investments in which all

public officers and public bodies of this state, its political subdivisions,

all municipalities and municipal subdivisions, all insurance companies and

associations and other persons carrying on an insurance business, all banks,

bankers, banking institutions including savings and loan associations, building

and loan associations, trust companies, savings banks and savings associations,

investment companies and other persons carrying on a banking business, all

administrators, guardians, executors, trustees, and other fiduciaries, and all

other persons who are now or may hereafter be authorized to invest in bonds or

in other obligations of the state, may properly and legally invest funds,

including capital, in their control or belonging to them. The notes and bonds

are also made securities which may properly and legally be deposited with and

received by all public officers and bodies of the state or any agency or

political subdivision of the state and all municipalities and public

corporations for any purpose for which the deposit of bonds or other

obligations of the state is now or may hereafter be authorized by law.

History of Section.

(P.L. 1973, ch. 262, § 1.)