Section 1199-LL. Bonds legal investments for fiduciaries

The bonds of the
  authority  are  hereby made securities in which all public officials and
  bodies of the state and all municipalities, 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, investment companies and  other
  persons  carrying  on a banking business, and 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  the  state and all
  municipalities for any purposes for which the deposit of bonds or  other
  obligations of the state is now or hereafter may be authorized.
    * NB There are 2 § 1199-ll's