2006 New York Code - Trustees Of Funds; Investments.

 
    §  13-134  Trustees  of  funds;  investments. The members of the board
  shall be the trustees of the several funds provided for by this chapter,
  and shall have full power to invest the  same,  subject  to  the  terms,
  conditions,  limitations  and  restrictions  imposed by law upon savings
  banks in the making and disposing of investments by savings banks;  and,
  subject  to  like  terms, conditions, limitations and restrictions, such
  trustees shall have full power to hold, purchase, sell, assign, transfer
  or dispose of any of the securities or investments in which any  of  the
  funds  provided  for by this chapter shall have been invested as well as
  of the proceeds of such investments and of any moneys belonging to  such
  funds.