N.Y. Public Authorities Law § 1274: Notes and bonds as legal investment

§ 1274. Notes and bonds as legal investment. The notes and bonds of

the authority are hereby made securities in which all public officers

and bodies of the state and all municipalities and political

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 who 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 other provisions of law, the bonds of the

authority are also hereby made securities which may be deposited with

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

and all municipalities and political subdivisions for any purpose for

which the deposit of bonds or other obligations of the state is now or

may hereafter be authorized.