Section 52040 Of Chapter 4. Revenue Bonds From California Health And Safety Code >> Division 31. >> Part 5. >> Chapter 4.
52040
. Notwithstanding any other provision of law, bonds issued
pursuant to this part shall be legal investments for all trust funds,
insurance companies, savings and loan associations, investment
companies and banks, both savings and commercial, and shall be legal
investments for executors, administrators, trustees and all other
fiduciaries. Such bonds shall be legal investments for state school
funds and for any funds which may be invested in county, municipal or
school district bonds, and such bonds shall be deemed to be
securities which may properly and legally be deposited with, and
received by, any state or municipal officer or by any agency or
political subdivision of the state for any purpose for which the
deposit of bonds or obligations of the state is now, or may
hereafter, be authorized by law, including deposits to secure public
funds.