N.Y. Public Authorities Law § 3018: Notes and bonds as legal investments

§ 3018. Notes and bonds as legal investments. The notes and bonds of a

corporation are hereby made securities in which all public officers and

bodies of this state and all political subdivisions of the state 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 in other obligations of

the state, may properly and legally invest funds, including capital, in

their control or belonging to them. Such notes and 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 political subdivisions

of the state and public corporations for any purpose for which the

deposit of bonds or other obligations of the state is now or may

hereafter be authorized.