N.Y. Public Authorities Law § 2480: Bonds and notes as legal investments for public officers and fiduciaries

* § 2480. Bonds and notes as legal investments for public officers and

fiduciaries. The bonds and notes of the authority are hereby made

securities in which all public officers and bodies of this state and all

political subdivisions thereof, 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,

all administrators, guardians, executors, trustees and other

fiduciaries, and all other persons 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 political subdivisions thereof for any

purpose for which the deposit of bonds or other obligations of this

state is now or may hereafter be authorized.

* NB (Disbanded March, 1980)