New York Laws
Title 18 - State of New York Municipal Bond Bank Agency Act
2445 - Bonds and Notes as Legal Investments for Public Officers and Fiduciaries.

§ 2445. Bonds and notes as legal investments for public officers and
fiduciaries. The bonds and notes of the agency 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,
all administrators, guardians, executors, trustees and other
fiduciaries, 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 and notes 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.