l investment certificates issued by any association licensed by and under the direct supervision of the commissioner in accordance with the provisions of this act, shall be legal investments for the funds of executors, administrators, guardians, receivers, and trustees of every kind and nature and for the funds of all insurance companies and when, by any law of this territory, it is provided that the moneys of any pension fund, retirement plan, trust fund, or the moneys of any fund the investment of which is governed by law may or shall be invested in securities which are a legal investment for savings banks, then such law shall be deemed to authorize the investment of such moneys in such investment certificates. This section is intended to be, and shall be considered, the latest enactment upon the matters herein contained, and is supplemental to any and all other acts regulating, relating to and declaring what shall be, legal investments for the funds of executors, administrators, guardians, receivers, trustees or insurance companies, or for any of the other funds referred to in this section.

SOURCE: GC §41251.