N.Y. Public Authorities Law § 2712: Bonds as legal investments

§ 2712. Bonds as legal investments. The bonds 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, guardians, executors, trustees and

other fiduciaries, and all other persons whatsoever 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 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 of this

state is now or may hereafter be authorized.