N.Y. Public Authorities Law Section 1863
Bonds and notes legal investments for fiduciaries

The bonds and notes are hereby made securities in which all public officers and bodies of the 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, savings associations, including savings and loan associations and building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or who 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. Notwithstanding any other provisions of law, the bonds and notes of the authority are also hereby made securities which may be deposited with and may 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 the state is now or may hereafter be authorized.

Source: Section 1863 — Bonds and notes legal investments for fiduciaries, https://www.­nysenate.­gov/legislation/laws/PBA/1863 (updated Sep. 22, 2014; accessed Feb. 15, 2025).

1850
Short title 1850‑A
Legislative declaration 1851
Definitions 1852
New York state energy research and development authority 1853
Approval power of the governor 1854
Purposes and specific powers of the authority 1854‑A
Nuclear waste repository siting 1854‑B
Low-level radioactive waste management facilities 1854‑C
Permanent disposal facilities 1854‑D
Generator reporting and fees 1855
General powers of the authority 1856
Acquisition of real property 1857
Officers and employees 1858
Assistance by state officers, departments, boards, divisions and commissions 1859
Deposit, investment and accounting of moneys of the authority 1860
Bonds and notes 1860‑A
Reserve funds and appropriations 1861
Exemption from taxation of the property and income of the authority 1862
Exemption from taxation of bonds and notes 1863
Bonds and notes legal investments for fiduciaries 1864
Right of state to require redemption of bonds 1865
Rights and remedies of bondholders and noteholders 1866
State not liable on bonds and notes 1867
Annual reports 1867‑A
Federal insurance or guaranty 1868
Inconsistent provisions of other acts 1868‑A
Actions 1869
Termination of the authority 1870
Title not affected if in part unconstitutional or ineffective 1871
Public service law not applicable to authority 1872
Green residential building program 1872‑A
Affordable residential green building program 1873
Examination and reporting of energy efficiency grant recipients 1875
Legislative findings and declaration of intent 1876
High temperature technology research program established 1877
Purposes of the high temperature technology research program 1878
State coordination, oversight and technology transfer 1879
Funds 1880
Legislative findings and declaration of intent 1881
High phase order electric transmission research project 1882
School energy efficiency collaboration program 1883
State oversight and funding 1884
Zero-emission bus roadmap
Green check means up to date. Up to date

Accessed:
Feb. 15, 2025

Last modified:
Sep. 22, 2014

§ 1863’s source at nysenate​.gov

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