Serf Realty Co. v. State
228 A.D.2d 428, 643 N.Y.2d 663, 643 N.Y.S.2d 663, 1996 N.Y. App. Div. LEXIS 6212
Appellate Division of the Supreme Court of the State of New York·Decided June 3, 1996·Published·Cited by 2 cases
Opinion
The State’s obligation to pay interest terminates upon deposit of an advance payment into an interest-bearing account pursuant to State Finance Law § 97-dd (see, EDPL 304 [E]; 514). Therefore, for the period when the advance payment was deposited in that account, the rate earned by the State’s short-term investment pool was the correct rate of interest.
In light of our determination, we need not reach the appellant’s remaining contentions. Thompson, J. P., Altman, Gold-stein and McGinity, JJ., concur.
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Serf Realty Co. v. State, 228 A.D.2d 428, 643 N.Y.2d 663, 643 N.Y.S.2d 663, 1996 N.Y. App. Div. LEXIS 6212 (N.Y. Ct. App. 1996).
228 A.D.2d 428 (Serf Realty Co. v. State) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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