N.Y. Public Authorities Law § 3968: Bonds, notes or other obligations legal for investment and deposit

§ 3968. Bonds, notes or other obligations legal for investment and

deposit. Bonds, notes or other obligations of the authority are hereby

made securities in which all public officers and bodies of the state and

all public corporations, 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, conservators,

guardians, executors, trustees and other fiduciaries, and all other

persons whatsoever who are now or may hereafter be authorized to invest

in bonds, notes or other obligations of the state, may properly and

legally invest funds, including capital, in their control or belonging

to them. Such bonds, notes or other obligations 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 and public

corporations for any purpose for which the deposit of bonds, notes or

other obligations of the state is now or may hereafter be authorized.