La. Stat. tit. 39 § 1798.11
Bonds and certificates are hereby made securities in which all banks, bankers, savings banks, trust companies, and other persons carrying on a banking business, all insurance companies, insurance associations, and other persons carrying on an insurance business, and all administrators, executors, guardians, trustees, and other fiduciaries, and all other persons whatsoever who now are or may hereafter be authorized to invest in bonds or other obligations of the state of Louisiana may properly and legally invest any funds, including capital belonging to them or within their control, and such bonds and certificates are hereby made securities which may properly and legally be deposited with and received by any state or municipal officers or agency of the state of Louisiana for any purpose for which the deposit of bonds or other obligations of the state of Louisiana is now or may hereafter be authorized by law.
La. R.S. § 39:1798.11