New York § 2324 Bonds as legal investments

New York Statutes

§ 2324 — Bonds as legal investments

New York § 2324

Law PBAPublic Authorities

Title 15Auburn Industrial Development Authority

Art. 8Miscellaneous Authorities

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Bluebook

N.Y. Public Authorities § 2324 (2026).

Text

  § 2324. Bonds as legal investments. The bonds are hereby made\nsecurities in which all public officers and bodies of this state and all\nmunicipalities and municipal subdivisions, 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,\nand all other persons whatsoever except as hereinafter provided, who are\nnow 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: provided that,\nnotwithstanding the pr

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§ 2324. Bonds as legal investments. The bonds are hereby made\nsecurities in which all public officers and bodies of this state and all\nmunicipalities and municipal subdivisions, 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,\nand all other persons whatsoever except as hereinafter provided, who are\nnow 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: provided that,\nnotwithstanding the provisions of any other general or special law to\nthe contrary, such bonds shall not be eligible for the investment of\nfunds, including capital, of trusts, estates or guardianships under the\ncontrol of individual administrators, guardians, executors, trustees and\nother individual fiduciaries. The bonds are also hereby made securities\nwhich may be deposited with and shall be received by all public officers\nand bodies of this state and all municipalities and municipal\nsubdivisions for any purpose for which the deposit of bonds or other\nobligations of this state is now or may hereafter be authorized.\n