§4–250.

    (a)    A bond or note issued by the Administration under this part is a legal and proper investment for:

        (1)    a public officer, a political subdivision, or a governmental unit;

        (2)    a bank, trust company, savings and loan association, investment company, or other person doing a banking business;

        (3)    an insurance company, insurance association, or other person doing an insurance business;

        (4)    a personal representative, guardian, trustee, or other fiduciary; or

        (5)    any other person.

    (b)    For any purpose for which the deposit of a bond or other obligation of the State is authorized by law, a bond issued by the Administration under this part is a security that may legally and properly be deposited with and received by a public officer, a political subdivision, or a governmental unit.