N.Y. Public Authorities Law § 565: Bonds legal investments for fiduciaries

§ 565. Bonds legal investments for fiduciaries. The bonds 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 saving

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 shall 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.