N.Y. Public Authorities Law § 1980: Bonds and notes legal investments for public officers and fiduciaries

§ 1980. Bonds and notes legal investments for public officers and

fiduciaries. The bonds and notes 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, 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 and notes 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 this state is now or may hereafter be authorized.