RS 48:1100: Bonds as legal investment

Savings banks, insurance companies, homestead associations, tutors, curators, trustees and other fiduciaries may invest the funds in their hands in the bonds issued by the authority, and the bonds shall constitute legal investment for such funds. The authority shall not be liable to beneficiaries, minors, wards or interdicted persons for moneys paid to their trustees, tutors or curators on account of such bonds. Said bonds may be used for deposit with any officer, board, municipality or other political subdivision of the state in any case where, by present or future laws, deposit or security is required.