Untitled section

200.55 or are guaranteed by the state:

219.06(1)(a)1.

1.

The state and all public officers, municipal corporations, political subdivisions, and public bodies.

219.06(1)(a)2.

2.

All banks, bankers, savings and loan associations, credit unions, trust companies, savings banks and institutions, investment companies, and other persons carrying on a banking business.

219.06(1)(a)3.

3.

All personal representatives, guardians, trustees, and other fiduciaries.

219.06(1)(b)

(b)

The bonds and other obligations described in par. (a) shall be authorized security for all public deposits and shall be fully negotiable in this state.

219.06(2)

(2)

 

The purpose of this section is to authorize any of the foregoing to use any funds owned or controlled by them, including but not limited to sinking, investment, retirement, compensation, pension and trust funds, and funds held on deposit, for the purpose of any such bonds or other obligations.

219.06(3)

(3)

 

This section shall apply notwithstanding any restrictions on investments contained in other provisions of the statutes.

219.06(4)

(4)

 

This section does not relieve any person, firm or corporation from the duty of exercising reasonable care in selecting securities.