New York Laws
Title 28-BB - Albany Convention Center Authority
2675-M - Bonds; Legal Investment of Fiduciaries.

§ 2675-m. Bonds; legal investment 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, 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, 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.