2006 New York Code - Fund For Current Needs.

 
    §   13-138  Fund  for  current  needs.  For  the  purpose  of  meeting
  disbursements                       for                        pensions,
  pensions-providing-for-increased-take-home-pay,   annuities   and  other
  payments, there may be kept an available fund,  not  exceeding  ten  per
  cent  of  the  total  amount  in  the several funds provided for by this
  chapter, on deposit in any bank in this state organized under  the  laws
  thereof  or under the laws of the United States, or in any trust company
  incorporated by any law of this  state,  provided  such  bank  or  trust
  company  shall  furnish  adequate  security  for  such fund, and further
  provided that the sum deposited in any one bank or trust  company  shall
  not  exceed  twenty-five  per cent of the paid-up capital and surplus of
  such bank or trust company.