N.Y. Public Authorities Law § 2518: Bonds and notes as legal investments

* § 2518. Bonds and notes as legal investments. The bonds and notes of

the authority 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, all administrators,

guardian 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

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 (Discontinued-Board of Directors never appointed)