§ 176. Definitions. 1. The term “fund”, as used in this article four-a, shall mean any public retirement system or pension fund which grants retirement or pension benefits to employees of the city of New York, employees of the state of New York, employees of any department or agency of the city of New York […]
§ 177. Eligible investments. In addition to the powers contained in 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 have the power to invest the moneys thereof in: 1. Such securities in which the trustees of a […]
§ 177-a. Investment in certain conventional mortgages. Notwithstanding any provision contained in this chapter or any other general, special or local law or code to the contrary, within the limitations authorized for investment in conventional mortgages, the trustees of the fund may invest a part of its assets in first mortgages on real property located […]
§ 177-c. Investment in mortgage pass-through certificates. Notwithstanding the provisions of section one hundred seventy-seven, or of section one hundred seventy-eight of this article, the trustees of any fund may invest in mortgage pass-through certificates. As used in this section, the term “mortgage pass-through certificates” shall mean certificates evidencing ownership of undivided interests in pools […]
§ 177-d. Security loan agreements. 1. A fund may enter into security loan agreements with broker-dealers and with New York state or national banks for the purpose of prudently supplementing the income normally received from investments. 2. The trustees of the funds involved shall monitor the market value of the loaned marketable securities daily. In […]
§ 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 […]
§ 178-a. Custody and nominee registration of stock and securities. 1. Notwithstanding any other provision of law, including the provisions of the administrative code of the city of New York and the education law, the public officer or officers designated by law as the custodian of a fund are authorized, in accordance with the provisions […]
§ 179. Investments in municipal assistance corporation obligations; indemnification. 1. It is hereby found and declared that obligations of the municipal assistance corporation for the city of New York are reasonable, prudent, proper and legal investments for any fund described in subdivision one of section one hundred seventy-six of this article or for any board […]
§ 179-a. Construction. In the event of any conflict or inconsistency between the provisions of this article four-a and the provisions of any other provision of law as to the percentage of assets of a fund which may be invested in any one type of investment or in any one particular investment, the provisions of […]
