Section 208. Bonds legal investments for public officers and fiduciaries

The bonds are hereby made securities in which all  public  officers  and
  bodies  of this state and all municipalities and municipal subdivisions,
  all insurance companies and associations 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  other  obligations  of  the  state,  may properly and legally invest
  funds, including capital, in their control or belonging to  them.    The
  bonds  are  also  hereby made securities which may be deposited with and
  shall be received by all public officers and bodies of  this  state  and
  all  municipalities and municipal subdivisions for any purpose for which
  the deposit of bonds or other obligations of this state is  now  or  may
  hereafter be authorized.
    * NB (Abolished in 1975)