The bonds issued pursuant to this Chapter shall be and are hereby declared to be legal and authorized investments for banks, savings banks, trust companies, building and loan associations, insurance companies, fiduciaries, trustees, guardians. Such bonds shall be eligible to secure the deposit of any and all public funds of the State and any and all public funds of municipalities, parishes, school districts or other political corporations or subdivisions of the state and such bonds shall be lawful and sufficient security for said deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
La. R.S. 33:4545.22
Bonds as legal investments and lawful security
Known as the State Power Authority Act
The act spans §§ 33–33 (379 sections).
Added by Acts 1979, No. 772, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.