New York Laws
Title 15 - Auburn Industrial Development Authority
2324 - Bonds as Legal Investments.

§ 2324. 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 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 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.