{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-38-116","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-38-116","heading":"Notes or other obligations as legal investments","body":"All banks, trust companies, bankers, savings banks and\n\ninstitutions, building and loan associations, savings and loan\n\nassociations, investment companies and other persons carrying on a\n\nbanking or investment business; all insurance companies, insurance\n\nassociations, and other persons carrying on an insurance business;\n\nand all executors, administrators, curators, trustees, and other\n\nfiduciaries, may legally invest in sinking funds, moneys, or other\n\nfunds belonging to them or within their control in any notes or\n\nother obligations issued by a municipality or an Urban Renewal\n\nAuthority pursuant to this article and vested with urban renewal\n\nproject powers under this article; Provided, that such notes, bonds\n\nor other obligations may be secured by an agreement between the\n\nissuer and the Federal Government in which the issuer agrees to\n\nborrow from the Federal Government and the Federal Government agrees\n\nto lend to the issuer, prior to the maturity of such notes, bonds or\n\nother obligations, moneys in an amount which (together with any\n\nother moneys irrevocably committed to the payment of interest on\n\nsuch notes, bonds or other obligations) will suffice to pay the\n\nprincipal of such notes, bonds or other obligations with interest to\n\nmaturity thereon, which moneys under the terms of said agreements\n\nare required to be used for the purpose of paying the principal and\n\ninterest of such notes, bonds or other obligations at their\n\nmaturity. Such notes, bonds and other obligations shall be\n\nauthorized security for all public deposits. It is the purpose of\n\nthis section to authorize any persons, political subdivision and\n\nofficers, public or private, to use any funds owned or controlled by\n\nthem for the purchase of any such notes, bonds or other obligations.\n\nNothing contained in this section with regard to legal investments\n\nshall be construed as relieving any person of any duty of exercising\n\nreasonable care in selecting securities.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ea8070b126f90ffe58c4aa7790dc45f294a1425b631e789478474fd5529a50d4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-38-115","next":"us-ok/okla.-stat.-tit.-11-11-38-117"},"notice":"GroundRules: Original legal text. Not legal advice."}