New York Consolidated Laws, Retirement and Social Security Law - RSS § 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 this article shall govern.

Nothing contained in this article shall be construed to affect any lawful investment made prior to the effective date of this article   1 by the trustee or trustees of a fund, and any such investment may be retained or disposed of by such trustee or trustees in accordance with any other provision of law.