2006 New York Code - Bonds And Notes As Legal Investments For Public Officers And Fiduciaries.

 
    §  2445.  Bonds and notes as legal investments for public officers and
  fiduciaries.  The  bonds  and  notes  of  the  agency  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, 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 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 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.