2006 New York Code - Fund For Current Needs.

 
    §   13-237  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
  subchapter, 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.