N.Y. Public Authorities Law § 1226-p: Bonds legal investments for fiduciaries

§ 1226-p. Bonds legal investments for fiduciaries. The bonds of the

authority are hereby made securities in which all public officials and

bodies of the state and all municipalities, 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,

and administrators, guardians, executors, trustees and other fiduciaries

and all other persons whatsoever, who are not 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. Notwithstanding any inconsistent provision of law,

the bonds are also hereby made securities which may be deposited with

and may be received by all public officers and bodies of this state and

all municipalities for any purposes for which the deposit of bonds or

other obligations of this state are now or hereafter may be authorized.