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Statutes » New York » PBA Law » Article 5

N.Y. PBA Law § 1020-M

This is the official text of N.Y. PBA Law § 1020-M, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.

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Legal investments

Official statutory text

* § 1020-m. Legal investments. Any bonds or notes issued by the\nauthority are hereby made securities in which all public officers and\nbodies of this state and all municipalities, all insurance companies and\nassociations and other persons carrying on an insurance business, all\nbanks, bankers, trust companies, savings banks and savings associations,\nincluding savings and loan associations, building and loan associations,\ninvestment companies and other persons carrying on a banking business,\nall trusts, estates and guardianships and all other persons whatsoever,\nwho are now 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\nshall be received by all public officers and bodies of the state and all\nmunicipalities for any purpose for which the deposit of bonds or other\nobligations of the state is now or may hereafter be authorized.\n * NB There are 2 § 1020-m's\n

Status: in_force · Read it on the official government site

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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.