48-6686. Characteristics of bonds; negotiability; legal investments; exemption from taxation
(Conditionally Rpld. Delayed Rpld.)
A. Bonds issued under this article are fully negotiable within the meaning and for all purposes of the uniform commercial code, subject only to any provisions for registration, regardless of whether the bonds actually constitute negotiable instruments under the uniform commercial code.
B. The bonds, their transfer and the income from the bonds are at all times free from taxation in this state.
C. Bonds issued under this article:
1. Are securities in which public officers and bodies of this state and of municipalities and political subdivisions of this state, all companies, associations and other persons carrying on an insurance business, all financial institutions, investment companies and other persons carrying on a banking business, all fiduciaries and all other persons who are authorized to invest in government obligations may properly and legally invest.
2. Are securities that may be deposited with public officers or bodies of this state and municipalities and political subdivisions of this state for purposes that require the deposit of government bonds or obligations.
Section: Previous 48-6679 48-6680 48-6681 48-6682 48-6683 48-6684 48-6685 48-6686 48-6687 48-6688 48-6689 48-6801 48-6802 48-6803 48-6804 NextLast modified: October 13, 2016