N.Y. Public Authorities Law § 1437: Bonds legal investments for public officers and fiduciaries

§ 1437. Bonds legal investments for public officers and fiduciaries.

The bonds 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. The bonds 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 municipal subdivisions for any purpose for which the

deposit of bonds or other obligations of this state is now or may

hereafter be authorized.