Revenue Bonds - Status of Bonds as Legal Investments and as Securities for Deposits

1. Law
2. Georgia Code
3. Waters of the State, Ports, and Watercraft
4. Georgia Ports Authority
5. Revenue Bonds - Status of Bonds as Legal Investments and as Securities for Deposits

1. The bonds authorized in this chapter are made securities in which:
   1. All public officers and bodies of this state;
   2. All municipalities and all municipal subdivisions;
   3. All insurance companies and associations and other persons carrying on an insurance business;
   4. 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;
   5. All administrators, guardians, executors, trustees, and other fiduciaries; and
   6. All other persons whatsoever who are 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.

2. The bonds authorized in this chapter are also made securities which may be deposited with and shall 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 the bonds or other obligations of this state is authorized.

(Ga. L. 1945, p. 464, § 14; Ga. L. 1982, p. 3, § 52.)

Law reviews.

- For note discussing and comparing the prudent man rule and the legal list rule in trustee investment, see 15 Mercer L. Rev. 530 (1964).

RESEARCH REFERENCES

ALR.

- Rights and liabilities of municipality as to interest earned on improvement assessments or other special funds collected or held by it, 143 A.L.R. 1341.

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