N.Y. Public Authorities Law § 1562*2: Bonds legal investments for public officers

* § 1562. Bonds legal investments for public officers. 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, and all other persons whatsoever except as hereinafter

provided, 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; provided that

notwithstanding the provisions of any other general or special law to

the contrary, such bonds shall not be eligible for the investment of

funds, including capital, of trusts, estates or guardianships under the

control of individual administrators, guardians, executors, trustees and

other individual fiduciaries. 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.

* NB Dissolved December 31, 1977

* NB There are 2 § 1562's