Internal prototype — noindexed, not linked from public navigation yet.

Statutes » New York » ACA Law » Title E

N.Y. ACA Law § 20.31

This is the official text of N.Y. ACA Law § 20.31, part of New York’s ACA Law — part of the compiled statutory law of New York, published by the state as "ACA Law." Browse the sections below, each linked to its official government source.

Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.

Bonds and notes as legal investments

Official statutory text

§ 20.31. Bonds and notes as legal investments. The bonds and notes of\na trust are hereby made securities in which all public officers and\nbodies of this state and all municipalities and political subdivisions,\nall insurance companies and associations and other persons carrying on\nan insurance business, all banks, bankers, trust companies, savings\nbanks and savings associations, including savings and loan associations,\nbuilding and loan associations, investment companies and other persons\ncarrying on a banking business, all administrators, guardians,\nexecutors, trustees and other fiduciaries, and all other persons who are\nnow or may hereafter be authorized to invest in bonds or other\nobligations of the state, may properly and legally invest funds\nincluding capital in their control or belonging to them. The bonds and\nnotes are also hereby made securities which may be deposited with and\nmay be received by all public officers and bodies of this state and all\nmunicipalities and political subdivisions for any purpose for which the\ndeposit of bonds or other obligations of this state is now or may\nhereafter be authorized.\n

Status: in_force · Read it on the official government site

Need a lawyer in New York?

Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.