N.Y. PBA Law § 2518

* § 2518. Bonds and notes as legal investments. The bonds and notes of\nthe authority are hereby made securities in which all public officers\nand bodies of this state and all municipalities and municipal\nsubdivisions, all insurance companies and associations and other persons\ncarrying on an insurance business, all banks, bankers, trust companies,\nsavings banks and savings associations, including savings and loan\nassociations, building and loan associations, investment companies and\nother persons carrying on a banking business, all administrators,\nguardian executors, trustees and other fiduciaries, and all other\npersons who are now or may hereafter be authorized to invest in bonds or\nother obligations 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\nmay be received by all public officers and bodies of this state and all\nmunicipalities and municipal subdivisions for any purpose for which the\ndeposit of bonds or other obligations of this state is now or may\nhereafter be authorized.\n * NB (Discontinued-Board of Directors never appointed)\n