N.Y. Local Finance Law § 161.00: Negotiability of obligations

§ 161.00 Negotiability of obligations. All bonds and notes of a

municipality, school district or district corporation, including notes

issued by a city school district pursuant to section 26.00 of this

chapter, whether payable to bearer or in registered form, shall be

negotiable instruments within the meaning of article eight of the

uniform commercial code, except that such bonds or notes which have been

registered shall be transferred only in the manner provided in paragraph

b of section 75.00 of this chapter.