New York § 1962 Bonds legal investments for public officers

New York Statutes

§ 1962 — Bonds legal investments for public officers

New York § 1962

Law PBAPublic Authorities

Title 11Troy Industrial Development Authority

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 1962 (2026).

Text

  § 1962. Bonds legal investments for public officers. The bonds or\nnotes are hereby made securities in which all public officers and bodies\nof this state and all municipalities and municipal subdivisions, all\ninsurance companies and associations and other persons carrying on an\ninsurance business, all banks, bankers, trust companies, savings banks\nand savings associations, including savings and loan associations,\nbuilding and loan associations, investment companies and other persons\ncarrying on a banking business, and all other persons whatsoever except\nas hereinafter provided, who are now or may hereafter be authorized to\ninvest in bonds or other obligations of the state, may properly and\nlegally invest funds including capital in their control or belonging to\nthem: provided th

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§ 1962. Bonds legal investments for public officers. The bonds or\nnotes are hereby made securities in which all public officers and bodies\nof this state and all municipalities and municipal subdivisions, all\ninsurance companies and associations and other persons carrying on an\ninsurance business, all banks, bankers, trust companies, savings banks\nand savings associations, including savings and loan associations,\nbuilding and loan associations, investment companies and other persons\ncarrying on a banking business, and all other persons whatsoever except\nas hereinafter provided, who are now or may hereafter be authorized to\ninvest in bonds or other obligations of the state, may properly and\nlegally invest funds including capital in their control or belonging to\nthem: provided that, notwithstanding the provisions of any other general\nor special law to the contrary, such bonds shall not be eligible for the\ninvestment of funds, including capital, of trusts, estates or\nguardianships under the control of individual administrators, guardians,\nexecutors, trustees and other individual fiduciaries. The bonds or notes\nare also hereby made securities which may be deposited with and shall be\nreceived by all public officers and bodies of this state and all\nmunicipalities and municipal subdivisions for any purpose for which the\ndeposit of bonds or other obligations of this state is now or may\nhereafter be authorized.\n