Utah Code 63B-1-316. Obligations as legal investments — Deposit of obligations
Current as of: 2024 | Check for updates
|
Other versions
(1) The obligations issued under this part are securities in which all persons and organizations authorized to invest in any obligations of this state may properly and legally invest any funds, including capital belonging to them or within their control.
Terms Used In Utah Code 63B-1-316
- Obligations: means any mortgage certificates, notes, debentures, interim certificates, revenue bonds, or other evidences of financial indebtedness. See Utah Code 63B-1-303
- 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
(2) These obligations are also declared to be securities that may properly and legally be deposited with, and received by, any state, county, or municipal officer, or agency of the state for any purpose for which the deposit of any obligations of the state is authorized by law.