§ 98. Investment of state funds. The comptroller shall invest and keep\ninvested all moneys belonging to any and all funds which the comptroller\nnow is or hereafter shall be authorized to invest, in any of the\nfollowing securities:\n 1. Bonds and notes of the United States.\n 2. Bonds and notes of this state.\n 2-a. General obligation bonds and notes of any state other than this\nstate, provided that such bonds and notes receive the highest rating of\nat least one independent rating agency designated by the comptroller.\n 3. Obligations for the payment of which the faith and credit of the\nUnited States or of this state are pledged.\n 3-a. Notes, bonds, debentures, mortgages and other evidences of\nindebtedness of the United States Postal Service; the federal national\nmortgage association; federal home loan mortgage corporation; student\nloan marketing association; federal farm credit system or any other\nUnited States government sponsored agency, provided that at the time of\nthe investment such agency or its obligations are rated and the agency\nreceives, or its obligations receive, the highest rating of all\nindependent rating agencies that rate such agency or its obligations,\nprovided, however, that no more than five hundred million dollars may be\ninvested in the obligations of any one agency.\n 4. Judgments or awards of the court of claims of this state.\n 5. Stocks, bonds, or notes of any county, town, city, village, fire\ndistrict or school district of this state issued pursuant to law.\n 6. Mortgage bonds or any obligations for the payment of money, no\nmatter how designated, secured by another instrument representing a lien\non specific real property or a leasehold thereof, heretofore or\nhereafter and at the time of the assignment thereof to the comptroller\ninsured by the federal housing administrator or any of his successors in\noffice and guaranteed by the United States under the provisions of the\nnational housing act, as amended or supplemented. Any such mortgage\nbonds or obligations as aforesaid in which the comptroller has invested\nor shall have invested pursuant to this subdivision shall be serviced by\nthe comptroller or in his discretion, by mortgagees, as such are defined\nby the national housing act, as amended or supplemented, duly appointed\nby him and subject to the inspection and supervision of some\ngovernmental agency. The comptroller may receive and hold such\ndebentures and certificates or other obligations as are issued in\npayment of such insurance or guarantee.\n 7. Bonds and notes of the Savings and Loan Bank of the state of New\nYork.\n 8. Bonds or notes of any housing authority of this state duly issued\npursuant to law.\n 9. Bonds or notes of any regulating district of this state duly issued\npursuant to law.\n 10. Bonds or notes of any drainage improvement district of this state\nduly issued pursuant to law.\n 11. Bonds or notes of the authorities or commissions set forth below\nwhen issued pursuant to law:\n a. Port of New York Authority.\n b. Niagara Frontier Authority.\n c. Triborough bridge and tunnel authority.\n d. Thousand Islands Bridge Authority.\n e. New York State Bridge Authority.\n f. New York City Tunnel Authority.\n g. Lake Champlain Bridge Commission.\n h. Lower Hudson Regional Market Authority.\n i. Albany Regional Market Authority.\n k. American Museum of Natural History Planetarium Authority.\n l. Industrial Exhibit Authority.\n m. Buffalo Sewer Authority.\n n. Whiteface Mountain Authority.\n o. Pelham-Portchester Parkway Authority.\n p. Jones Beach State Parkway Authority.\n q. Bethpage Park Authority.\n r. Dormitory Authority.\n s. Central New York Regional Market Authority.\n t. Erie County Water Authority.\n u. Suffolk County Water Authority.\n v. New York State Thruway Authority.\n w. Genesee Valley Regional Market Authority.\n x. Onondaga county water authority.\n y. Power Authority of the state of New York.\n z. Ogdensb
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.