New York Laws
Title 3 - Erie County Water Authority
1062 - Bonds Legal Investments for Fiduciaries.

§ 1062. 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 savings
associations, including savings and loan associations, building and loan
associations, investment companies and other persons carrying on a
banking business, and all other persons whatsoever, except as
hereinafter provided, 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; provided that, notwithstanding the provisions of any other general
or special law to the contrary, such bonds shall not be eligible for the
investment of funds including capital, of trusts, estates or
guardianships under the control of individual administrators, guardians,
executors, trustees and other individual fiduciaries. The bonds are also
hereby made securities which may be deposited with and may 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.