2005 Idaho Code - 68-405 — HOUSING BONDS LEGAL INVESTMENTS

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 4
                              LEGAL INVESTMENTS
    68-405.  HOUSING BONDS LEGAL INVESTMENTS. Notwithstanding any restrictions
on investments contained in any laws of this state all banks, bankers, trust
companies, savings banks and institutions, building and loan associations,
savings and loan associations, investment companies and other persons carrying
on a banking business, all insurance companies, insurance associations and
other persons carrying on an insurance business, and all executors,
administrators, guardians, trustees and other fiduciaries may legally invest
any sinking funds, moneys or other funds belonging to them or within their
control in any bonds or other obligations issued by a housing authority
pursuant to the Housing Authorities Law of this state, or issued by any public
housing authority or agency in the United States, when such bonds or other
obligations are secured by a pledge of annual contributions to be paid by the
United States government or any agency thereof; it being the purpose of this
act to authorize any private persons or corporations to use any funds owned or
controlled by them, including (but not limited to) sinking, insurance,
investment and trust funds, and funds held on deposit, for the purchase of any
such bonds or other obligations; provided, however, that nothing contained in
this act shall be construed as relieving any person, firm or corporation from
any duty of exercising reasonable care in selecting securities.