1. (1) in which any of the following persons may legally and properly invest money, including capital that the person owns or controls:

   1. (i) an officer or unit of the State or a political subdivision;
   2. (ii) a bank, trust company, savings and loan association, investment company, or other person conducting a banking business;
   3. (iii) an insurance company, insurance association, or other person conducting an insurance business;
   4. (iv) a personal representative, guardian, trustee, or other fiduciary; and
   5. (v) any other person; and
2. (2) that may be deposited with and received by a unit of the State or a political subdivision for any purpose for which the deposit of bonds or obligations of the State is authorized by law.

Bonds are securities:

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.