2006 New York Code - Bonds, Notes Or Other Obligations Legal Investments For Public Officers And Fiduciaries.

 
    § 2083. Bonds, notes or other obligations legal investments for public
  officers  and  fiduciaries.  The  bonds,  notes or other obligations 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
  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, notes or other obligations 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.