TITLE 39

Public Utilities and Carriers

CHAPTER 39-16

Kent County Water District

SECTION 39-16-16



   § 39-16-16  Bonds as legal investments.

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The bonds are hereby made securities in which all public officers and bodies of

this state and all municipalities and municipal subdivisions, all insurance

companies 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, all

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

other persons, whomsoever who are now or may hereafter be authorized to invest

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

funds including capital in their control or belonging to them. The bonds are

also hereby made securities which may be deposited with and shall be received

by all public officers and bodies of this state, and all municipalities and

municipal subdivisions, for any purpose for which the deposit of bonds or other

obligations of this state is now or may hereafter be authorized.



History of Section.

(P.L. 1946, ch. 1740, § 8; G.L. 1956, § 39-16-16.)