N.Y. PBA Law § 1114-K*2

* § 1114-k. Bonds; legal investments for fiduciaries. The bonds of the\nauthority are hereby made securities in which all public officials and\nbodies of the 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, investment companies and other\npersons carrying on a banking business, and administrators, guardians,\nexecutors, trustees and other fiduciaries and all other persons\nwhatsoever, who are now or may hereafter be authorized to invest in\nbonds or other obligations of the state, may properly and legally invest\nfunds including capital in their control or belonging to them. The bonds\nare also hereby made securities which may be deposited with and may be\nreceived by all public officers and bodies of the state and all\nmunicipalities for any purposes for which the deposit of bonds or other\nobligations of the state is now or hereafter may be authorized.\n * NB There are 2 § 1114-k's\n