Section 2518. Bonds and notes as legal investments

The bonds and notes of
  the  authority  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,
  guardian  executors,  trustees  and  other  fiduciaries,  and  all other
  persons 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 and
  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.
    * NB (Discontinued-Board of Directors never appointed)