N.Y. PBA Law § 2063

* § 2063. Bonds legal investments for public officers and fiduciaries.\nThe bonds are hereby made securities in which all public officers and\nbodies of this state and all municipalities and municipal 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,\ninvestment companies and other persons carrying on a banking business\nand all other persons whatsoever, except as hereinafter provided, who\nare 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; provided that,\nnotwithstanding the provisions of any other general or special law to\nthe contrary, such shall not be eligible for the investment of funds,\nincluding capital, trusts, estates or guardianships under the control of\nindividual administrators, guardians, executors, trustees and other\nindividual fiduciaries. The bonds are also hereby made securities which\nmay be deposited with and may be received by all public officers and\nbodies of this state and all municipalities and municipal subdivisions\nfor any purpose for which the deposit of bonds or other obligations of\nthis state is now or may hereafter be authorized.\n * NB Authority dissolved September 1, 1977\n