Section 1232-K. Bonds legal investments for fiduciaries

The bonds of the
  authority are hereby made securities in which all public  officials  and
  bodies  of the state and all municipalities, 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, investment companies and other
  persons carrying on a banking business, and  administrators,  guardians,
  executors,   trustees  and  other  fiduciaries  and  all  other  persons
  whatsoever, who are 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 may be received by all public
  officers and bodies  of  this  state  and  all  municipalities  for  any
  purposes  for  which  the  deposit of bonds or other obligations of this
  state is authorized.