New York § 61 - 61Bonds and notes as legal investments
Full text of New York New York Consolidated Laws § 61 — 61Bonds and notes as legal investments, with citation guidance and answers to common questions.
§ 61. 61Bonds and notes as legal investments
§ 61. Bonds and notes as legal investments. The bonds and notes of the Utica transit authority are hereby made securities in which all public officers and bodies of the state and all municipalities and municipal subdivisions thereof, 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. Notwithstanding the provisions of any other general or special law to the contrary, the bonds and notes are also hereby made securities which may be deposited with and may be received by all public officers and bodies of the state of New York and all municipalities and municipal subdivisions thereof for any purpose for which the deposit of bonds or other obligations of the state is now, or may hereafter be, authorized.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 61
What does New York Consolidated Laws § 61 cover?
Section 61 ("61Bonds and notes as legal 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 § 61?
A common citation format is "New York Consolidated Laws § 61" (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 § 61 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.