N.Y. Public Authorities Law § 584: Bonds as legal investments

§ 584. Bonds as legal investments. 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 savings institutions

and 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 in the state 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. Notwithstanding any other provision of law, the

notes of the authority are hereby made securities in which the county

may properly and legally invest funds, including capital in its control

or belonging to it, when approved by the supervisors.