12Power to trustees and others to invest in stock

12 Power to trustees and others to invest in stock

12 Power to trustees and others to invest in stock

Any stock, debenture, or treasury bill sold or issued under this Act is hereby declared to be for all purposes a Government security; and all corporations and other persons may invest in the purchase of such stock debentures or treasury bills any property held by them, whether as trustees or otherwise, which they are not expressly forbidden to invest in Government stock or securities, without on that account being liable for a breach of trust and without incurring any liability whatsoever, provided that such investment is in other respects reasonable and proper.

s 12: Am 1914 No 30, sec 4 (b) (c).