Iowa Code 260C.64 – Who may invest
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Terms Used In Iowa Code 260C.64
- Bonds: means revenue bonds which are payable solely as provided in this section and section 260C. See Iowa Code 260C.71
- Loan: means a deposit of property not accompanied by a transfer of title to the property. See Iowa Code 305B.2
All banks, trust companies, building and loan associations, savings associations, investment companies, and other persons carrying on an investment 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 notes issued pursuant to this subchapter. However, this section shall not be construed as relieving any persons from any duty of exercising reasonable care in selecting securities for purchase or investment.