Section 1104. Bonds and notes legal investments for fiduciaries

The bonds
  or notes 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, and all other persons whatsoever, except
  as  hereinafter  provided, 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; provided that, notwithstanding the provisions of any other general
  or special law to the  contrary,  such  bonds  or  notes  shall  not  be
  eligible  for  the  investment  of  funds  including capital, of trusts,
  estates or guardianships under the control of individual administrators,
  guardians, executors, trustees and  other  individual  fiduciaries.  The
  bonds  or  notes  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 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.