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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
CourtAppellate Division of the Supreme Court of the State of New York
DecidedJune 3, 1996
StatusPublished
Cited by2 cases

This text of 228 A.D.2d 428 (Serf Realty Co. v. State) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
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).

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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Related

Mazur Bros. Realty, LLC v. State
117 A.D.3d 949 (Appellate Division of the Supreme Court of New York, 2014)

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Bluebook (online)
228 A.D.2d 428, 643 N.Y.2d 663, 643 N.Y.S.2d 663, 1996 N.Y. App. Div. LEXIS 6212, Counsel Stack Legal Research, https://law.counselstack.com/opinion/serf-realty-co-v-state-nyappdiv-1996.