N.Y. PBA Law § 1199-KKKK*2

* § 1199-kkkk. Bonds legal investments for fiduciaries. The bonds of\nthe authority are hereby made securities in which all public officials\nand bodies of the state and all municipalities, all insurance companies\nand associations and other persons carrying on an insurance business,\nall banks, bankers, trust companies, savings banks and savings\nassociations, including savings and loan associations, investment\ncompanies and other persons carrying on a banking business, and\nadministrators, guardians, executors, trustees and other fiduciaries and\nall other persons whatsoever, who are now or may hereafter be authorized\nto invest in bonds or other obligations of the state, may properly and\nlegally invest funds including capital in their control or belonging to\nthem. The bonds are also hereby made securities which may be deposited\nwith and may be received by all public officers and bodies of the state\nall municipalities for any purposes for which the deposit of bonds or\nother obligations of the state is now or hereafter may be authorized.\n * NB There are 2 § 1199-kkkk's\n