New York Laws
Title 11 - Troy Industrial Development Authority
1962 - Bonds Legal Investments for Public Officers.

§ 1962. Bonds legal investments for public officers. The bonds or
notes 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 or notes
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.