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 Oct. 26, 2024).

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

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 1863’s source at nysenate​.gov

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