New York Laws
Title 4 - New York Local Government Assistance Coporation
3244 - Bonds and Notes as Legal Investments.

§ 3244. Bonds and notes as legal investments. The bonds and notes of
the corporation are hereby made securities in which all public officers
and bodies of this state and all municipalities and political
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 in 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
the state and all municipalities, political subdivisions and public
corporations for any purpose for which the deposit of bonds or other
obligations of the state is now or may hereafter be authorized.