N.Y. Public Housing Law § 639: Legal investment and deposit

§ 639. Legal investment and deposit. The bonds, notes or other

obligations of the trust 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 or in other obligations of

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

their control or belonging to them. The 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.