Iowa Code 390.20 – Public bonds or obligations as suitable investments for governmental units, financial institutions, and fiduciaries
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The following persons may legally invest any debt service funds, money, or other funds belonging to such person or within such person’s control in any public bonds or obligations issued pursuant to this subchapter:
1. A bank, trust company, savings association, or investment company.
Terms Used In Iowa Code 390.20
- Fiduciary: A trustee, executor, or administrator.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Person: means an individual, firm, partnership, domestic or foreign corporation, company, association or joint stock association, trust, or other legal entity, and includes a trustee, receiver, assignee, or similar representative thereof, but does not include a governmental body. See Iowa Code 362.2
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Trustee: A person or institution holding and administering property in trust.
2. An insurance company, insurance association, or any other person carrying on an insurance business.
3. An executor, administrator, conservator, trustee, or other fiduciary.
4. Any other person authorized to invest in bonds or obligations of the state.