HRS §206J-15
Bonds are legal for investments and as security
This section says that bonds issued under this chapter are legal investments for banks, insurance companies, and others who handle money. These bonds can also be used to secure public funds, like money held by the state or counties. They are valid security if they include all unpaid interest coupons.
countiesfinancial institutionsstate agencies
The statute, as written — Bonds as legal investments and lawful security
Bonds issued pursuant to this chapter shall be and are declared to be legal and authorized investments for banks, savings banks, trust companies, savings and loan associations, insurance companies, fiduciaries, trustees, guardians, and for all public funds of the State or other political corporations or subdivisions of the State. 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 counties or other political corporations or subdivisions of the State, and such bonds shall be lawful and sufficient security for such deposits to the extent of their value when accompanied by all unmatured coupons appertaining thereto.
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