N.Y. Public Authorities Law Section 565
Bonds legal investments for fiduciaries


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 saving associations, including savings and loan associations, 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 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. 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 565 — Bonds legal investments for fiduciaries, https://www.­nysenate.­gov/legislation/laws/PBA/565 (updated Sep. 22, 2014; accessed Dec. 2, 2023).

550
Short title
551
Definitions
552
Triborough bridge and tunnel authority
552–A
Consolidation
553
Powers of the authority
553–A
Additional powers in relation to Brooklyn Richmond project
553–B
Additional powers and provisions in relation to convention center
553–C
Additional powers and provisions in relation to railroad and rapid transit projects
553–D
Special Triborough bridge and tunnel authority special obligation bonds and notes
553–E
Laws applicable to certain activities
553–F
Tokens
553–G
Fire training
553–H
Tokens
553–I
Marine Parkway Bridge
553–J
Additional powers and provisions in relation to central business district tolling program
553–K
Traffic mobility review board
554
Transfer of officers and employees
555
Selection of site
556
Acquisition of lands by the city for the project
557
Grant of land by the city to the authority
557–A
Lands, easements and rights in land
558
Consent of state
559
Construction contracts
560
Moneys of the authority
561
Bonds of the authority
562
Redemption of bonds
563
Agreement of the state
564
State and city not liable on bonds
565
Bonds legal investments for fiduciaries
566
Exemptions from taxation
566–A
Tax contract by the state
567
Remedies of bondholders
568
Continuity of jurisdiction
569
Protection of prior bondholders
569–A
Actions against the authority
569–B
Restrictions on signs and billboards
569–C
Transfer and receipt of surplus funds
569–D
Protection of bondholders
570
Title not affected if in part unconstitutional or ineffective
571
Inconsistent provisions in other acts superseded

Accessed:
Dec. 2, 2023

Last modified:
Sep. 22, 2014

§ 565’s source at nysenate​.gov

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