Section 3018. Notes and bonds as legal investments

The notes and bonds of a
  corporation  are hereby made securities in which all public officers and
  bodies of this state and all political subdivisions  of  the  state  and
  other  persons  carrying  on  an insurance business, all banks, bankers,
  trust companies,  savings  banks  and  savings  associations,  including
  savings   and   loan   associations,  building  and  loan  associations,
  investment companies and other persons carrying on a  banking  business,
  all   administrators,   guardians,   executors,   trustees   and   other
  fiduciaries, and all  other  persons  whatsoever  who  are  now  or  may
  hereafter  be  authorized  to invest in bonds or in other obligations of
  the state, may properly and legally invest funds, including capital,  in
  their control or belonging to them. Such notes and bonds are also hereby
  made  securities  which may be deposited with and may be received by all
  public officers and bodies of the state and all  political  subdivisions
  of  the  state  and  public  corporations  for any purpose for which the
  deposit of bonds or other  obligations  of  the  state  is  now  or  may
  hereafter be authorized.