N.Y. General Municipal Law § 12: Deposits of public authorities, public benefit corporations and other corporations

§ 12. Deposits of public authorities, public benefit corporations and

other corporations. In the event any public authority, public benefit

corporation or such other corporation to whose governing board the mayor

of the city of New York appoints one or more members shall require

security from a bank or trust company for deposit of moneys, then such

security may include obligations of the city of New York.