N.Y. Public Authorities Law Section 1493-M
Bonds legal investments for public officers

The bonds are hereby made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, and all other persons whatsoever except as hereinafter provided, who are now or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest funds including capital in their control or belonging to them; provided that, notwithstanding the provisions of any other general or special law to the contrary, such bonds shall not be eligible for the investment of funds, including capital, of trusts, estates or guardianships under the control of individual administrators, guardians, executors, trustees and other individual fiduciaries. The bonds are also hereby made securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of bonds or other obligations of this state is now or may hereafter be authorized.

Source: Section 1493-M — Bonds legal investments for public officers, https://www.nysenate.gov/legislation/laws/PBA/1493-M (updated Sep. 22, 2014; accessed Nov. 1, 2025).

1493–A
Short title 1493–B
Definitions 1493–C
Albany parking authority 1493–D
Purpose and powers of the authority 1493–E
Civil service status of officers and employees 1493–F
Conveyance of property by the city to the authority 1493–G
Construction and purchase contracts 1493–H
Moneys of the authority 1493–I
Bonds of the authority 1493–J
Notes of the authority 1493–K
Agreements of the state 1493–L
State and city not liable on bonds 1493–M
Bonds legal investments for public officers 1493–N
Tax exemptions 1493–O
Tax contract by the state 1493–P
Remedies of bondholders 1493–Q
Actions against the authority 1493–R
Title not affected if in part unconstitutional or ineffective 1493–S
Inconsistent provisions in other acts superseded

Up to date

Verified:
Nov. 1, 2025

Last modified:
Sep. 22, 2014

§ 1493-M. Bonds legal investments for public officers's source at nysenate.gov

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Location: https://newyork.public.law/laws/n.y._public_authorities_law_section_1493-m

Original Source: Section 1493-M — Bonds legal investments for public officers, https://www.nysenate.gov/legislation/laws/PBA/1493-M (last accessed Nov. 1, 2025).

N.Y. Public Authorities Law Section 1493-M Bonds legal investments for public officers

N.Y. Public Authorities Law Section 1493-M
Bonds legal investments for public officers