™Your Policy Risk Impact Agent
0 chapters · 3,273 sections in this title.
N.Y. Public Authorities Law § 2405-E Purchase of employer assisted forward commitment mortgages
2.5K chars
§ 2405-e. Purchase of employer assisted forward commitment mortgages. (1) In accordance with the authority set forth in section twenty-four hundred five-b of this title, the agency may purchase employer assisted forward commitment mortgages from banks at such prices and upon suc…
N.Y. Public Authorities Law § 2405-F New York state community restoration fund
14.1K chars
§ 2405-f. New York state community restoration fund. (1) Definitions. For the purposes of this section, the following terms shall have the following meanings: (a) "fund" shall mean the New York state community restoration fund established pursuant to subdivision two of this sect…
N.Y. Public Authorities Law § 2406 Bonds and notes of the agency
10.8K chars
§ 2406. Bonds and notes of the agency. (1) Subject to the approval of the New York public authorities control board in accordance with the provisions of chapter thirty-nine of the laws of nineteen hundred seventy-six, as amended and subject to the provisions of section two thous…
N.Y. Public Authorities Law § 2407 Bond limits
5.0K chars
§ 2407. Bond limits. (1) Except for notes issued in nineteen hundred seventy and nineteen hundred seventy-one, the agency shall not issue bonds and notes, the interest on which is not included in the gross income of the holders of the bonds and notes under the United States Inte…
N.Y. Public Authorities Law § 2408 Reserve funds and appropriations
8.5K chars
§ 2408. Reserve funds and appropriations. (1) The agency may create and establish one or more reserve funds to be known as debt service reserve funds and pay into any such reserve fund (a) any moneys appropriated by the state for the purposes of such fund, (b) any proceeds of sa…
N.Y. Public Authorities Law § 2409 Remedies of bondholders and noteholders
2.9K chars
§ 2409. Remedies of bondholders and noteholders. (1) In the event that the agency shall default in the payment of principal or of interest on any issue of bonds or notes after the same shall become due, whether at maturity or upon call for redemption, and such default shall cont…
N.Y. Public Authorities Law § 2410 State and municipalities not liable on bonds, notes or insurance commitments or contracts or development corporation credit support
0.5K chars
§ 2410. State and municipalities not liable on bonds, notes or insurance commitments or contracts or development corporation credit support. The bonds, notes, insurance commitments or contracts or development corporation credit support and other obligations of the agency shall n…
N.Y. Public Authorities Law § 2411 Agreement of the state
0.8K chars
§ 2411. Agreement of the state. The state of New York does hereby pledge to and agree with the holders of any bonds or notes or any mortgage insurance contract issued under this title that the state will not limit or alter the rights hereby vested in the agency to fulfill the te…
N.Y. Public Authorities Law § 2412 Property and income
0.8K chars
§ 2412. Property and income. 1. The property of the agency and its income and operations shall be exempt from taxation or assessments of every kind and nature, other than assessments for local improvements and the tax imposed by article eleven of the tax law; nor shall the agenc…
N.Y. Public Authorities Law § 2413 Exemption from taxation of bonds and notes and insurance commitments and loans
1.1K chars
§ 2413. Exemption from taxation of bonds and notes and insurance commitments and loans. It is hereby determined that the creation of the agency is in all respects for the benefit of the people of the state, for the improvement of their health and welfare, and for the promotion o…
N.Y. Public Authorities Law § 2414 Bonds and notes as legal investments for public officers and fiduciaries
1.2K chars
§ 2414. Bonds and notes as legal investments for public officers and fiduciaries. The bonds and notes of the agency are hereby made securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and ass…
N.Y. Public Authorities Law § 2415 Moneys of the agency
2.5K chars
§ 2415. Moneys of the agency. (1) All moneys of the agency from whatever source derived, except as otherwise authorized or provided in this title, shall be paid to the treasurer of the agency and shall be deposited forthwith in a bank or banks in the state designated by the agen…
N.Y. Public Authorities Law § 2416 Actions
0.9K chars
§ 2416. Actions. In any case founded upon tort a notice of claim shall be required as a condition precedent to the commencement of an action or special proceeding against the agency or any officer, appointee or employee thereof, and the provisions of section fifty-e of the gener…
N.Y. Public Authorities Law § 2417 Limitation of liability
0.3K chars
§ 2417. Limitation of liability. Neither the members of the agency, nor any person or persons acting in its behalf, while acting within the scope of their authority, shall be subject to any personal liability resulting from carrying out any of the powers expressly given in this …
N.Y. Public Authorities Law § 2418 Assistance by state officers, departments, boards and commissions; transfer of officers and employees
0.9K chars
§ 2418. Assistance by state officers, departments, boards and commissions; transfer of officers and employees. (1) The department of audit and control, department of law, and all other state agencies may render such services to the agency within their respective functions as may…
N.Y. Public Authorities Law § 2419 Annual report
2.4K chars
§ 2419. Annual report. The agency shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the comptroller and the director of the budget within six months after the end of its fiscal year, a complete and …
N.Y. Public Authorities Law § 2419-A Additional reports
0.9K chars
§ 2419-a. Additional reports. 1. Within six months after the end of its fiscal year the agency shall submit to the governor, the majority leader of the senate, the speaker of the assembly, the comptroller and the director of the budget a complete and detailed report setting fort…
N.Y. Public Authorities Law § 2420 Court proceedings; preferences; venue
0.8K chars
§ 2420. Court proceedings; preferences; venue. Any action or proceeding to which the agency or the people of the state of New York may be parties, in which any question arises as to the validity of this act, shall be preferred over all other civil causes except election causes i…
N.Y. Public Authorities Law § 2420-A Validity
0.3K chars
§ 2420-a. Validity. Bonds, insurance commitments or contracts and development corporation credit support may contain a recital that they are issued or executed, respectively, pursuant to this section, which recital shall be conclusive evidence of their validity, respectively, an…
N.Y. Public Authorities Law § 2421 Inconsistent provisions of other laws superseded
0.4K chars
§ 2421. Inconsistent provisions of other laws superseded. Insofar as the provisions of this title are inconsistent with the provisions of any other law, general, special or local, the provisions of this title shall be controlling. It is the intent of the legislature that the pro…
N.Y. Public Authorities Law § 2422 Construction
0.2K chars
§ 2422. Construction. This title, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.
N.Y. Public Authorities Law § 2423 Separability
0.4K chars
§ 2423. Separability. If any clause, sentence, paragraph, section or part of this title shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to t…
N.Y. Public Authorities Law § 2425 Statement of legislative findings and purpose with respect to insurance commitments or contracts by the agency
4.6K chars
§ 2425. Statement of legislative findings and purpose with respect to insurance commitments or contracts by the agency. It is hereby found that there exist in many cities, towns and villages of the state neighborhoods which are blighted, are becoming blighted or may become bligh…
N.Y. Public Authorities Law § 2426 Definitions
12.1K chars
§ 2426. Definitions. As used in sections twenty-four hundred twenty-five through twenty-four hundred twenty-nine inclusive. 1. "Financial institution". Any bank, trust company, national bank, savings bank, state or federal savings and loan association, or state or federal credit…
N.Y. Public Authorities Law § 2427 Additional powers of the agency
4.4K chars
§ 2427. Additional powers of the agency. The agency shall have the following additional powers only with respect to insuring mortgage loans and providing development corporation credit support: 1. To establish and levy fees and charges in connection with the processing of applic…
N.Y. Public Authorities Law § 2428 Insurance of mortgages
23.9K chars
§ 2428 Insurance of mortgages. 1. The agency is authorized, subject to the provisions of this article, to make commitments to insure and to contract to insure mortgage loans eligible for insurance hereunder. * 1-a. The agency may issue commitments to provide and may provide pool…
N.Y. Public Authorities Law § 2428-A Development corporation credit support account as source of development corporation credit support
2.2K chars
§ 2428-a. Development corporation credit support account as source of development corporation credit support. 1. The agency is authorized, subject to the provisions of this title, to provide the development corporation credit support account as a source or potential source of pa…
N.Y. Public Authorities Law § 2429 Rentals
1.5K chars
§ 2429. Rentals. Notwithstanding the provisions of, or any regulation promulgated pursuant to, the emergency housing rent control law, the local emergency housing rent control act or local law enacted pursuant thereto, all dwelling units in a multiple dwelling the rehabilitation…
N.Y. Public Authorities Law § 2429-A Payment of insurance and development corporation credit support
2.4K chars
§ 2429-a. Payment of insurance and development corporation credit support. 1. The agency shall establish procedures to be followed by a mortgagee in the event of a default under the terms of any mortgage insured by the agency. The agency may require that prior to submitting a cl…
N.Y. Public Authorities Law § 2429-B Mortgage insurance fund
17.9K chars
§ 2429-b. Mortgage insurance fund. * 1. (a) The agency shall create and establish a mortgage insurance fund. Within such fund, the agency shall establish: (i) a special account, which shall be divided into sub-accounts for each region as defined in subdivision nine of section tw…
N.Y. Public Authorities Law § 2429-C Charges and fees
1.7K chars
§ 2429-c. Charges and fees. * 1. The agency shall fix a premium charge for its insurance of mortgages pursuant to this article which, except for pool insurance, shall not be less than an amount equivalent to one-quarter of one per centum per annum nor more than an amount equival…
N.Y. Public Authorities Law § 2429-D Contributions to agency
0.4K chars
§ 2429-d. Contributions to agency. Notwithstanding the provisions of any general or special law or the provisions of any certificate of incorporation, charter or other articles of organization, all domestic corporations or associations organized for the purpose of carrying on bu…
N.Y. Public Authorities Law § 2429-E Examination
0.7K chars
§ 2429-e. Examination. At least once in each calendar year the agency shall be examined by the superintendent of financial services for the purposes of determining the agency's net worth and the soundness of its management and operating policies. The agency shall not, however, b…
N.Y. Public Authorities Law § 2429-F Special provisions relating to directors of the agency
0.6K chars
§ 2429-f. Special provisions relating to directors of the agency. The agency may purchase from, sell to, borrow from, loan to, contract with or otherwise deal with any corporation, trust, association, partnership or other entity in which any director of the agency has a financia…
N.Y. Public Authorities Law § 2430 Short title
0.1K chars
§ 2430. Short title. This title shall be known and may be cited as the "state of New York municipal bond bank agency act"
N.Y. Public Authorities Law § 2431 Legislative findings
7.6K chars
§ 2431. Legislative findings. It is hereby declared to be in the public interest and to be the policy of the state to foster and promote by all reasonable means the provision of adequate capital markets and facilities for borrowing money by its several municipalities for the fin…
N.Y. Public Authorities Law § 2432 Definitions
11.4K chars
§ 2432. Definitions. As used in this title, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) "Agency". The state of New York municipal bond bank agency, the corporate governmental agency…
N.Y. Public Authorities Law § 2433 State of New York municipal bond bank agency
5.0K chars
§ 2433. State of New York municipal bond bank agency. (1) There is hereby created the state of New York municipal bond bank agency. The agency shall be a body corporate and politic constituting a public benefit corporation. Its membership shall consist of seven directors as foll…
N.Y. Public Authorities Law § 2434 Powers of the agency
10.0K chars
§ 2434. Powers of the agency. Except as otherwise limited by this title, the agency shall have power: (1) To sue and be sued; (2) To have a seal and alter the same at pleasure; (3) To make and execute contracts and all other instruments necessary or convenient for the exercise o…
N.Y. Public Authorities Law § 2435 Loans to municipalities
2.8K chars
§ 2435. Loans to municipalities. 1. The agency may purchase, and contract to purchase, municipal bonds from municipalities at such price or prices, upon such terms and conditions and in such manner, not inconsistent with the provisions of the local finance law, as the agency sha…
N.Y. Public Authorities Law § 2435-A Special program agreements
3.3K chars
§ 2435-a. Special program agreements. (1) In order to fulfill the purposes of this title and to provide a means by which the special program municipalities may (a) receive moneys to refund certain property taxes determined to be in excess of state constitutional tax limits or to…
N.Y. Public Authorities Law § 2435-B Tax lien purchase and sale agreements
2.4K chars
§ 2435-b. Tax lien purchase and sale agreements. (1) In order to fulfill the purposes of this title and to provide a means by which municipalities may collect the moneys necessary to fund their expenditures and provide revenue to fund any other lawful purpose and notwithstanding…
N.Y. Public Authorities Law § 2435-C Purchase of tax liens
2.6K chars
§ 2435-c. Purchase of tax liens. (1) The agency or its tax lien entity may purchase, and contract to purchase, tax liens from municipalities at such price or prices, upon such terms and conditions and in such manner, as the agency shall deem advisable. (2) The agency shall requi…
N.Y. Public Authorities Law § 2435-D Special school purpose agreements
3.5K chars
§ 2435-d. Special school purpose agreements. In order to fulfill the purposes of this title and to provide a means by which the special school purpose municipalities may receive assistance to meet their obligations and, notwithstanding any general or special law to the contrary,…
N.Y. Public Authorities Law § 2435-E Special School Deficit Program Agreements
2.1K chars
§ 2435-e. Special School Deficit Program Agreements. (1) In order to fulfill the purposes of this title and to provide a means by which a special school deficit program district may receive assistance to meet its obligations and, notwithstanding any general or special law to the…
N.Y. Public Authorities Law § 2436 State aid guarantee
4.7K chars
§ 2436. State aid guarantee. 1. In the event that a municipality fails to make any payment of principal or interest on its municipal bonds, the chairman of the agency shall certify to the comptroller that the municipality has failed to meet its obligations. Such certificate shal…
N.Y. Public Authorities Law § 2436-A School aid revenues
1.7K chars
§ 2436-a. School aid revenues. With respect to each issue of outstanding special school purpose bonds, the chairman of the agency shall annually certify, or in the case of the first such certificate within thirty days after the sale of an issue of special school purpose bonds, t…
N.Y. Public Authorities Law § 2436-B Local ARRA bonds
15.7K chars
§ 2436-b. Local ARRA bonds. (1) The agency may purchase local ARRA bonds using the proceeds of recovery act bonds, subject to the provisions of this section and to any other provision of law applicable to the municipality and bonds it issues, including any debt limitation applic…
N.Y. Public Authorities Law § 2436-C Local public safety communications bonds
2.8K chars
§ 2436-c. Local public safety communications bonds. (1) The agency may purchase local public safety communications bonds using the proceeds of public safety communication bonds, subject to the provisions of this section and to any other provision of law applicable to the municip…
N.Y. Public Authorities Law § 2437 Bonds and notes of the agency
11.9K chars
§ 2437. Bonds and notes of the agency. (1) Subject to the provisions of section two thousand four hundred thirty-eight of this title, the agency shall have the power and is hereby authorized from time to time to issue its negotiable bonds and notes in conformity with applicable …