Section 1199-LLLL. 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-llll's