Section 4-250 - Bond or note of Administration - Legal status(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(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.