N.Y. PBA Law § 2446

§ 2446. Moneys of the agency. (1) Subject to any agreement with\nbondholders or noteholders or except as otherwise authorized or provided\nin this act, all moneys of the agency from whatever source derived shall\nbe paid to the comptroller of the agency and shall be invested in any\ninvestments approved or authorized in accordance with the provisions of\nsection ninety-eight of the state finance law. The moneys in such\naccounts shall be paid by the comptroller or other agent duly designated\nby the agency on requisition of the chairman of the agency or of such\nother person or persons as the agency may authorize to make such\nrequisitions. All deposits of such moneys, shall, if required by the\nagency, be secured by (i) obligations of the United States of America or\nof the state of a market value equal at all times to the amount of the\ndeposit and all banks and trust companies are authorized to give such\nsecurity for such deposits or (ii) in such other manner as the agency\nmay require. The obligations securing such deposits shall either be\ndeposited with the comptroller of the agency or be held by a trustee or\nagent satisfactory to the agency. The comptroller or his legally\nauthorized representatives are authorized and empowered from time to\ntime to examine the accounts and books of the agency, including its\nreceipts, disbursements, contracts, leases, sinking funds, investments\nand any other records and papers relating to its financial standing.\n (2) The agency shall have power to contract with holders of any of its\nbonds or notes, as to the custody, collection, securing, investment, and\npayment of any moneys of the agency, of any moneys held in trust or\notherwise for the payment of bonds or notes, and to carry out such\ncontract. Moneys held in trust or otherwise for the payment of bonds or\nnotes or in any way to secure bonds or notes and deposits of such moneys\nmay be secured in the same manner as moneys of the agency, and all banks\nand trust companies are authorized to give such security for such\ndeposits.\n (3) Subject to the provisions of any contract with bondholders or\nnoteholders and to the approval of the comptroller, the agency shall\nprescribe a system of accounts.\n (4) The agency shall submit to the governor, chairman of the senate\nfinance committee, chairman of the assembly ways and means committee and\nthe comptroller, within thirty days of the receipt thereof by the\nagency, a copy of the report of every external examination of the books\nand accounts of the agency other than copies of the reports of such\nexaminations made by the comptroller.\n