(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 (5) any other person. (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.