N.Y. Public Authorities Law 2551 – Bonds or notes legal investments for public authorities
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§ 2551. Bonds or notes legal investments for public authorities. Bonds and notes of the corporation are hereby declared to be legal investments for monies of public corporations of the state of New York and may be used to secure deposits of monies of such corporations in banks or trust companies authorized to do business in the state of New York.
Terms Used In N.Y. Public Authorities Law 2551
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.