§ 2712. Bonds as legal investments. The bonds of the authority 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 savings 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 may 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 of this state is now or may hereafter be authorized.

Terms Used In N.Y. Public Authorities Law 2712

  • Authority: shall mean the public benefit corporation created by section twenty-seven hundred three of this title, known as the development authority of the north country. See N.Y. Public Authorities Law 2702
  • Bonds: shall mean s the bonds, notes or other evidences of indebtedness issued by the authority pursuant to this title and the provisions of this title relating to bonds and bondholders shall apply with equal force and effect to notes and noteholders, respectively, unless the context otherwise clearly requires. See N.Y. Public Authorities Law 2702
  • State: shall mean the state of New York. See N.Y. Public Authorities Law 2702
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