N.Y. Education Law § 466: Notes and bonds as legal investments

§ 466. Notes and bonds as legal investments. The notes and bonds of

the fund are hereby made securities in which all public officers and

bodies of this state and all municipalities and municipal subdivisions,

all insurance companies and associations, and other persons carrying on

an insurance business, all banks, bankers, trust companies, savings

banks and savings associations, including savings and loan associations,

building and loan associations, investment companies and other persons

carrying on a banking business, all administrators, guardians,

executors, trustees and other fiduciaries, and all other persons

whatsoever who are now or may hereafter be authorized to invest in bonds

or other obligations of the state, may properly and legally invest

funds, including capital, in their control or belonging to them.