2006 New York Code - Bonds Legal Investment For Fiduciaries.

 
    §  2789.  Bonds  legal  investment  for  fiduciaries. The bonds of the
  authority are hereby made securities in which all  public  officers  and
  bodies  of the state and all municipalities, 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,
  and 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.  Notwithstanding other provisions of law, the bonds
  are also hereby made securities which may be deposited with and  may  be
  received  by  all  public  officers  and  bodies  of  the  state and all
  municipalities for any purposes for which the deposit of bonds or  other
  obligations of this state is now or hereafter may be authorized.