§ 342-C — Tolling of the period of limitations by proceedings of the United States

New York § 342-C

• Jurisdiction: New York
• Law GBS: General Business
• Art. 22: Monopolies

Text

§ 342-c. Tolling of the period of limitations by proceedings of the\nUnited States. Whenever any civil or criminal proceeding is instituted\nby the federal government to prevent, restrain, or punish violations of\nthe federal antitrust laws, the running of the period of limitations in\nrespect of every right of action arising under sections three hundred\nforty, three hundred forty-two and three hundred forty-two-a of this\narticle, based in whole or in part on any matter complained of in the\nfederal proceeding, shall be suspended during the pendency of said\nproceeding and for one year thereafter; provided, however, that whenever\nthe running of the period of limitations in respect of a right of action\narising under sections three hundred forty, three hundred forty-two or\nthree hundred forty-two-a of this article is suspended hereunder, any\naction to enforce such right of action shall be forever barred unless\ncommenced either within the period of suspension or within the period of\nlimitations otherwise prescribed in this article.\n