N.Y. Public Authorities Law Section 2053-N
Bonds and notes as legal investment

The bonds of the authority are hereby made securities in which all public officials and bodies of the state and all municipalities, 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, investment companies and other persons carrying on a banking business, and administrators, guardians, executors, trustees and other fiduciaries and all other persons whatsoever, who are now or may hereafter be authorized to invest in bonds or notes, or other obligations of the state may properly and legally invest funds including capital in their control or belonging to them. The bonds and notes 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 for any purposes for which the deposit of bonds or notes or other obligations of this state is now or hereafter may be authorized.

Source: Section 2053-N — Bonds and notes as legal investment, https://www.­nysenate.­gov/legislation/laws/PBA/2053-N (updated Sep. 22, 2014; accessed Mar. 1, 2025).

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Accessed:
Mar. 1, 2025

Last modified:
Sep. 22, 2014

§ 2053-N’s source at nysenate​.gov

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