Montana Code 17-5-1525. Bonds as legal investment
17-5-1525. Bonds as legal investment. (1) Bonds issued by the board under the provisions of this part are securities in which all funds may be legally and properly invested, including capital in the control of or belonging to:
Terms Used In Montana Code 17-5-1525
- Board: means the board of investments created in 2-15-1808. See Montana Code 17-5-1503
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)public officers and public bodies of the state and its political subdivisions;
(b)insurance companies;
(c)credit unions, building and loan associations, investment companies, savings banks, banking associations, and trust companies;
(d)executors, administrators, trustees, and other fiduciaries; and
(e)pension, profit-sharing, and retirement funds.
(2)Bonds issued under 17-5-1505 through 17-5-1518 and 17-5-1521 through 17-5-1529 are securities that may properly and legally be deposited with and received by any state or municipal officer or any agency or municipality of the state for any purpose for which the deposit of bonds or obligations of the state is now or may hereafter be authorized by law.