New York § 1020-M Legal investments

New York Statutes

§ 1020-M — Legal investments

New York § 1020-M

Law PBAPublic Authorities

Title 1-ALong Island Power Authority

Art. 5Public Utility Authorities

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Bluebook

N.Y. Public Authorities § 1020-M (2026).

Text

  * § 1020-m. Legal investments. Any bonds or notes issued by the\nauthority are hereby made securities in which all public officers and\nbodies of this state and all municipalities, all insurance companies and\nassociations and other persons carrying on an insurance business, all\nbanks, bankers, trust companies, savings banks and savings associations,\nincluding savings and loan associations, building and loan associations,\ninvestment companies and other persons carrying on a banking business,\nall trusts, estates and guardianships and all other persons whatsoever,\nwho are now or may hereafter be authorized to invest in bonds or other\nobligations of the state, may properly and legally invest funds,\nincluding capital in their control or belonging to them. The bonds and\nnotes are also

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* § 1020-m. Legal investments. Any bonds or notes issued by the\nauthority are hereby made securities in which all public officers and\nbodies of this state and all municipalities, all insurance companies and\nassociations and other persons carrying on an insurance business, all\nbanks, bankers, trust companies, savings banks and savings associations,\nincluding savings and loan associations, building and loan associations,\ninvestment companies and other persons carrying on a banking business,\nall trusts, estates and guardianships and all other persons whatsoever,\nwho are now or may hereafter be authorized to invest in bonds or other\nobligations of the state, may properly and legally invest funds,\nincluding capital in their control or belonging to them. The bonds and\nnotes are also hereby made securities which may be deposited with and\nshall be received by all public officers and bodies of the state and all\nmunicipalities for any purpose for which the deposit of bonds or other\nobligations of the state is now or may hereafter be authorized.\n * NB There are 2 § 1020-m's\n