§2914. Bonds as legal investments and security
Notwithstanding any restrictions contained in any other law, the State and all public officers, governmental units and agencies; all national banking associations, state banks, trust companies, savings banks and institutions, building and loan associations, savings and loan associations, investment companies and other persons carrying on a banking business; all insurance companies, insurance associations and other persons carrying on an insurance business; and all executors, administrators, guardians, trustees and other fiduciaries may legally invest any sinking funds, money or other funds belonging to them or within their control in any bonds or notes issued by the bank pursuant to this chapter and the bonds or notes shall be authorized security for any and all public deposits. [PL 1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW).
Structure Maine Revised Statutes
Chapter 29: MAINE PUBLIC UTILITY FINANCING BANK ACT
35-A §2902. Findings and declaration of purpose
35-A §2904. Creation of bank and membership
35-A §2905. Lending and borrowing powers generally
35-A §2907. Prohibited acts and limitation of powers
35-A §2908. Bonds and notes of the bank
35-A §2909. Resolutions and indentures
35-A §2911. Reserves and funds
35-A §2912. Personal liability
35-A §2913. Purchase of bonds and notes of bank
35-A §2914. Bonds as legal investments and security
35-A §2916. Exemption of property from execution sale; actions to set aside resolutions
35-A §2917. Insurance or guaranty
35-A §2920. Undertakings of depositories
35-A §2921. Purchase of public utility securities
35-A §2922. Remedies on default of public utility securities
35-A §2923. Purchase of anticipation notes
35-A §2926. Agreements with financial institutions
35-A §2927. Form of public utility securities and investments