Section 664. Notes and bonds legal investments for public officers and fiduciaries

The notes and 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  saving  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  notes  and bonds or other obligations of the
  state, may properly and legally invest funds including capital in  their
  control  or  belonging to them. The notes and 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  notes
  and  bonds or other obligations of this state is now or may hereafter be
  authorized.