N.Y. Public Authorities Law § 2053-n: Bonds and notes as legal investment

§ 2053-n. Bonds and notes as legal investment. The bonds of the

authority are hereby made securities in which all public officials and

bodies of the state and all municipalities, 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, investment companies and other

persons carrying on a banking business, and 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 notes, 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 for any purposes for which the deposit

of bonds or notes or other obligations of this state is now or hereafter

may be authorized.