122D-17. Bonds as legal investment and security for public deposits.
Obligations issued under the provisions of this Chapter are hereby made securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital in their control or belonging to them. Such obligations are hereby made securities which may properly and legally be deposited with and received by any State or municipal officer or any agency or political subdivision of the State for any purpose for which the deposit of bonds, notes or obligations of the State is now or may hereafter be authorized by law. (1983, c. 789, s. 1; 1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1000, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 122D - North Carolina Agricultural Finance Act
§ 122D-2 - Legislative findings and purposes.
§ 122D-4 - North Carolina Agricultural Finance Authority.
§ 122D-5 - Officers and employees; administration of Chapter.
§ 122D-6 - General powers of Authority.
§ 122D-7 - Purchases and sales of agricultural loans.
§ 122D-8 - Loans to and deposits with lending institutions.
§ 122D-9 - Insurance of agricultural loans.
§ 122D-10 - Bonds of the Authority.
§ 122D-13 - Purchase of bonds by Authority.
§ 122D-14 - Exemption from taxes.
§ 122D-15 - Covenant of State.
§ 122D-17 - Bonds as legal investment and security for public deposits.
§ 122D-18 - Account and audits.
§ 122D-19 - Cooperation of State agencies.
§ 122D-20 - Construction of Chapter.