N.Y. Public Authorities Law § 2676-l: Bonds legal investment for fiduciaries

§ 2676-l. Bonds legal investment for fiduciaries. The bonds of the

authority are hereby made securities in which all public officers 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, building 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 upon the

effective date of this title, or thereafter, 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.

Notwithstanding other provisions of law, the bonds are also hereby made

securities which may be deposited with and may be received by all public

officers and bodies of the state and all municipalities for any purposes

for which the deposit of bonds or other obligations of this state is

upon the effective date of this title, or thereafter authorized.