N.Y. Public Authorities Law Section 1599-L*3
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. * NB Authority ceased to exist 07/01/1974 * NB There are 4 § 1599-l’s

Source: Section 1599-L*3 — Bonds legal investments for public officers, https://www.nysenate.gov/legislation/laws/PBA/1599-L*3 (updated Sep. 22, 2014; accessed Oct. 18, 2025).

1599
Short title 1599–A*3
Definitions 1599–B*3
Niagara Falls parking authority 1599–C*3
Purpose and powers of the authority 1599–D*3
Civil service status of officers and employees 1599–E*3
Conveyance of property by the city to the authority 1599–F*3
Construction contracts 1599–G*3
Moneys of the authority 1599–H*3
Bonds of the authority 1599–I*3
Notes of the authority 1599–J*3
Agreements of the state 1599–K*3
State and city not liable on bonds 1599–L*3
Bonds legal investments for public officers 1599–M*3
Tax exemptions 1599–N*3
Tax contract by the state 1599–O*3
Remedies of bondholders 1599–P*3
Actions against the authority 1599–Q*3
Termination of the authority 1599–R*3
Title not affected if in part unconstitutional or ineffective 1599–S*3
Inconsistent provisions in other acts superseded

Up to date

Verified:
Oct. 18, 2025

Last modified:
Sep. 22, 2014

§ 1599-L*3. 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_1599-l*3

Original Source: Section 1599-L*3 — Bonds legal investments for public officers, https://www.nysenate.gov/legislation/laws/PBA/1599-L*3 (last accessed Oct. 18, 2025).

N.Y. Public Authorities Law Section 1599-L*3 Bonds legal investments for public officers

N.Y. Public Authorities Law Section 1599-L*3
Bonds legal investments for public officers