(a) A housing authority, by resolution, may provide that all moneys deposited by it shall be secured by:
(1) Obligations of the United States or of the state, of a market value equal at all times to the amount of the deposits; or
(2) Any securities in which savings banks may legally invest funds within their control; or
(3) An undertaking, with such sureties as shall be approved by the authority, faithfully to keep and pay over upon the order of the authority any such deposits and agreed interest on them.
(b) All banks and trust companies are authorized to give any such security for the deposits.
Section: Previous 14-169-227 14-169-228 14-169-229 14-169-230 14-169-231 14-169-232 14-169-233 14-169-234 14-169-235 14-169-236 14-169-237 14-169-238 14-169-239 14-169-240 NextLast modified: November 15, 2016