N.Y. Public Authorities Law § 1863: Bonds and notes legal investments for fiduciaries

§ 1863. Bonds and notes legal investments for fiduciaries. The bonds

and notes are hereby made securities in which all public officers and

bodies of the 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, savings associations, including savings and loan associations and

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 and notes of the

authority 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 and municipal subdivisions for any purpose for which

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

hereafter be authorized.