Utah Code 53B-21-107. Investment in bonds by private and public entities — Approval as collateral security
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(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.
Terms Used In Utah Code 53B-21-107
- City: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5 - State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Town: includes , depending on population, a metro township as defined in Section
10-3c-102 . See Utah Code 68-3-12.5
(2) The officers having charge of a sinking fund or any county, city, town, 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.