EX-99.CERT 11(a)(1)

                    NEW YORK DAILY TAX FREE INCOME FUND, INC.
                   CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND
                            SENIOR FINANCIAL OFFICERS

I.       Covered Officers/Purpose of the Code

         This code of ethics (the "Code") applies to the Principal Executive
Officer and Principal Financial Officer (the "Covered Officers," each of whom
are set forth in Exhibit A) of the New York Daily Tax Free Income Fund, Inc.
(the "Fund") for the purpose of promoting:

o        honest and ethical conduct, including the ethical handling of actual or
         apparent conflicts of interest between personal and professional
         relationships;

o        full, fair, accurate, timely and understandable disclosure in reports
         and documents that a registrant files with, or submits to, the
         Securities and Exchange Commission ("SEC") and in other public
         communications made by the Fund;

o        compliance with applicable laws and governmental rules and regulations;

o        the prompt internal reporting of violations of the Code to an
         appropriate person or persons identified in the Code; and

o        accountability for adherence to the Code.

         Each Covered Officer should adhere to a high standard of business
ethics and should be sensitive to situations that may give rise to actual as
well as apparent conflicts of interest.

II.      Covered Officers Should Handle Ethically Actual and Apparent Conflicts
         of Interest

         Overview. A "conflict of interest" occurs when a Covered Officer's
private interest interferes with the interests of, or his service to, the Fund.
For example, a conflict of interest would arise if a Covered Officer, or a
member of his family, receives improper personal benefits as a result of his
position with the Fund.

         Certain conflicts of interest arise out of the relationships between
Covered Officers and the Fund and already are subject to conflict of interest
provisions in the Investment Company Act of 1940 ("Investment Company Act") and
the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example,
Covered Officers may not individually engage in certain transactions (such as
the purchase or sale of securities or other property) with the Fund because of
their status as "affiliated persons" of the Fund. The Fund's and the investment
adviser's compliance programs and procedures are designed to prevent, or
identify and correct, violations of these provisions. This Code does not, and is
not intended to, repeat or replace these programs and procedures, and such
conflicts fall outside of the parameters of this Code.

         Although typically not presenting an opportunity for improper personal
benefit, conflicts arise from, or as a result of, the contractual relationship
between the Fund and the investment adviser, of which the Covered Officers are
also officers or employees. As a result, this Code

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recognizes that the Covered Officers will, in the normal course of their duties
(whether formally for the Fund or for the adviser, or for both), be involved in
establishing policies and implementing decisions that will have different
effects on the adviser and the Fund. The participation of the Covered Officers
in such activities is inherent in the contractual relationship between the Fund
and the adviser and is consistent with the performance by the Covered Officers
of their duties as officers of the Fund. Thus, if performed in conformity with
the provisions of the Investment Company Act and the Investment Advisers Act,
such activities will be deemed to have been handled ethically. In addition, it
is recognized by the Fund's Board of Directors (the "Board") that the Covered
Officers may also be officers of one or more other investment companies covered
by this or other codes.

         Other conflicts of interest are covered by the Code, even if such
conflicts of interest are not subject to provisions in the Investment Company
Act and the Investment Advisers Act. The following list provides examples of
conflicts of interest under the Code, but Covered Officers should keep in mind
that these examples are not exhaustive. The overarching principle is that the
personal interest of a Covered Officer should not be placed improperly before
the interest of the Fund.

                                     * * * *

              Each Covered Officer must:

o        not use his personal influence or personal relationships improperly to
         influence investment decisions or financial reporting by the Fund
         whereby the Covered Officer would benefit personally to the detriment
         of the Fund;

o        not cause the Fund to take action, or fail to take action, for the
         individual personal benefit of the Covered Officer rather than the
         benefit of the Fund; and

o        not use material non-public knowledge of portfolio transactions made or
         contemplated for the Fund to trade personally or cause others to trade
         personally in contemplation of the market effect of such transactions.

         There are some potential conflict of interest situations that should be
discussed with Fund counsel in order to determine whether these situations pose
a material risk of causing detriment to the Fund. Examples of these include:

o        service as a director on the board of any public or private company;

o        the receipt of any non-nominal gifts from any company with which the
         Fund has current or prospective business dealings, to the extent the
         situation is not addressed by the Fund's 17j-1 Code of Ethics or the
         investment adviser's Code of Ethics;

o        the receipt of any entertainment from any company with which the Fund
         has current or prospective business dealings unless such entertainment
         is business-related, reasonable in cost, appropriate as to time and
         place, and not so frequent as to raise

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         any question of impropriety, to the extent the situation is not
         addressed by the Fund's 17j-1 Code of Ethics or the investment
         adviser's Code of Ethics;

o        any ownership interest in, or any consulting or employment relationship
         with, any of the Fund's service providers, other than its investment
         adviser, principal underwriter, administrator or any affiliated person
         thereof; and

o        a direct or indirect financial interest in commissions, transaction
         charges or spreads paid by the Fund for effecting portfolio
         transactions or for selling or redeeming shares other than an interest
         arising from the Covered Officer's employment, such as compensation or
         equity ownership.

III.     Disclosure and Compliance

o        Each Covered Officer should familiarize himself with the disclosure
         requirements generally applicable to the Fund;

o        each Covered Officer should not knowingly misrepresent, or cause others
         to misrepresent, facts about the Fund to others, whether within or
         outside the Fund, including to the Fund's directors and auditors, and
         to governmental regulators and self-regulatory organizations;

o        each Covered Officer should, to the extent appropriate within his area
         of responsibility, consult with other officers and employees of the
         Fund and the adviser with the goal of promoting full, fair, accurate,
         timely and understandable disclosure in the reports and documents the
         Fund files with, or submits to, the SEC and in other public
         communications made by the Fund;

o        each Covered Officer should comply with his or her obligations under
         the Fund's Disclosure Controls and Procedures and certification
         requirements relating to the reports on Form N-CSR (certified
         shareholder reports) and Form N-Q (quarterly schedule of portfolio
         holdings) that the Fund is required to file; and

o        it is the responsibility of each Covered Officer to promote compliance
         with the standards and restrictions imposed by applicable laws, rules
         and regulations.

IV.      Reporting and Accountability

              Each Covered Officer must:

o        upon adoption of the Code (or thereafter as applicable, upon becoming a
         Covered Officer), affirm in writing to the Board that he has received,
         read, and understands the Code;

o        annually thereafter affirm to the Board that he has complied with the
         requirements of the Code;
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o        not retaliate against any other Covered Officer or any employee of the
         Fund or its affiliated persons for reports of potential violations that
         are made in good faith; and

o        notify the Audit Committee promptly if he knows of any violation of
         this Code.  Failure to do so is itself a violation of this Code.

         Fund counsel is responsible for applying this Code to specific
situations in which questions are presented under it and has the authority to
interpret this Code in any particular situation. Any approvals or waivers(1)
sought by the Covered Officers must be considered Fund counsel.

         The Fund will follow these procedures in investigating and enforcing
this Code:

o        Fund counsel will take all appropriate action to investigate any
         potential violations reported to it;

o        if, after such investigation, Fund counsel believes that no violation
         has occurred, Fund counsel is not required to take any further action;

o        if Fund counsel determines that a violation has occurred it will inform
         and make a recommendation to the full Board, which will consider
         appropriate action, which may include (i) review of, and appropriate
         modifications to, applicable policies and procedures;   (ii)
         notification to appropriate personnel of the investment adviser or its
         board; or (iii) a recommendation to dismiss the Covered Officer;

o        Fund counsel will be responsible for granting waivers, as appropriate;
         and

o        any changes to or waivers of this Code will, to the extent required, be
         disclosed as provided by SEC rules.

V.       Other Policies and Procedures

         This Code shall be the sole code of ethics adopted by the Fund for
purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms
applicable to registered investment companies thereunder. Insofar as other
policies or procedures of the Fund, the Fund's adviser, principal underwriter,
or other service providers govern or purport to govern the behavior or
activities of the Covered Officers who are subject to this Code, they are
superseded by this Code to the extent that they overlap or conflict with the
provisions of this Code. The Fund's and its investment adviser's and principal
underwriter's codes of ethics under Rule 17j-l under the Investment Company Act,
and any other codes of conduct applicable to such entities, are separate
requirements applying to the Covered Officers and others, and are not part of
this Code.
_______________________________

(1)      Item 2 of Form N-CSR defines "waiver" as "the approval by the
         registrant of a material departure from a provision of the code of
         ethics" and "implicit waiver," which must also be disclosed, as "the
         registrant's failure to take action within a reasonable period of time
         regarding a material departure from a provision of the code of ethics
         that has been made known to an executive officer" of the registrant.

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VI.      Amendments

         Any amendments to this Code, other than amendments to Exhibit A, must
be approved or ratified by a majority vote of the Board.

VII.     Confidentiality

         All reports and records prepared or maintained pursuant to this Code
will be considered confidential and shall be maintained and protected
accordingly. Except as otherwise required by law or this Code, such matters
shall not be disclosed to anyone other than Fund counsel and the Board of
Directors (and its counsel) of the Fund where such reports or records pertain to
a Covered Officer of the Fund.

VIII.    Internal Use

         The Code is intended solely for the internal use by the Fund and does
not constitute an admission, by or on behalf of the Fund, as to any fact,
circumstance, or legal conclusion.


Adopted: September 16, 2003, as amended September 22, 2004, December 4, 2007 and
June 3, 2008.

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                                                             EX-99.CERT 11(a)(1)



                                    Exhibit A
                     Persons Covered by this Code of Ethics

Michael P. Lydon
Principal Executive Officer

Joseph Jerkovich
Principal Financial Officer