53B-21-107. Investment in bonds by private and public entities -- Approval as
collateral security.
(1) Any bank, savings and loan association, trust, or insurance company organized under
the laws of this state or federal law may invest its capital and surplus in bonds issued under this
chapter.
(2) The officers having charge of a sinking fund or any county, city, town, township, or
school district may invest the sinking fund in bonds issued under this chapter.
(3) The bonds shall also be approved as collateral security for the deposit of any public
funds and for the investment of trust funds.
Enacted by Chapter 167, 1987 General Session
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Last revised: Thursday, May 28, 2009