Investment of funds in insured deposits

Administrators, executors, guardians, trustees, and other fiduciaries of every kind and nature; insurance companies; charitable, educational, eleemosynary, and public corporations and organizations; municipalities and other public corporations and bodies; and public officials are authorized to invest funds held by them, without any order of any court, in deposits in savings and loan associations which are insured under a federal deposit insurance program; and, to the extent of such insurance, such investments shall be deemed and held to be legal investments for such funds. History. Ga. L. 1937-38, Ex. Sess., p. 322, § 1; Ga. L. 1951, p. 756, § 1; Ga. L. 1952, p. 305, § 2; Ga. L. 1964, p. 194, § 1; Code 1933, § 41A-3525, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1980, p. 972, § 8; Ga. L. 1993, p. 917, § 7; Ga. L. 2016, p. 390, § 7-4/HB 811.