Section 709. Bonds legal investments for public officers and certain others

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.