N.Y. Local Finance Law § 161.00

§ 161.00 Negotiability of obligations. All bonds and notes of a\nmunicipality, school district or district corporation, including notes\nissued by a city school district pursuant to section 26.00 of this\nchapter, whether payable to bearer or in registered form, shall be\nnegotiable instruments within the meaning of article eight of the\nuniform commercial code, except that such bonds or notes which have been\nregistered shall be transferred only in the manner provided in paragraph\nb of section 75.00 of this chapter.\n