New York § 178 - 178Additional limitations on eligible investments
Full text of New York New York Consolidated Laws § 178 — 178Additional limitations on eligible investments, with citation guidance and answers to common questions.
§ 178. 178Additional limitations on eligible investments
§ 178. Additional limitations on eligible investments. Notwithstanding any other provision of law, including the provisions of the administrative code of the city of New York, the trustee or trustees of a fund shall not have the power to invest in any insured mortgage or conventional mortgage of an unpaid principal amount at the time of investment of less than two hundred fifty thousand dollars; provided, however, that this limitation shall be inapplicable as to those mortgages pledged, assigned or transferred to the fund as collateral security for the unpaid balance of the bonds and notes purchased from any bank, trust company, savings bank or savings and loan association authorized by subdivision four of section one hundred seventy-seven of this chapter; and provided further that, with respect to any fund administered for employees of the city of New York, the trustee or trustees of such a fund shall be authorized to invest in any insured mortgage or conventional mortgage of an unpaid principal amount at the time of investment of not less than one hundred thousand dollars.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 178
What does New York Consolidated Laws § 178 cover?
Section 178 ("178Additional limitations on eligible investments") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 178?
A common citation format is "New York Consolidated Laws § 178" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 178 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.