N.Y. Public Authorities Law § 2063: Bonds legal investments for public officers and fiduciaries

* § 2063. 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,

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 shall not be eligible for the investment of funds,

including capital, 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 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.

* NB Authority dissolved September 1, 1977