Section 2350-K. Bonds legal investments for fiduciaries

The bonds of the
  agency 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 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 may be
  received by all  public  officers  and  bodies  of  the  state  and  all
  municipalities  for  any purpose for which the deposit of bonds or other
  obligations of the state is now or hereafter may be authorized.