New York § 85.60 Modification of plan

New York Statutes

§ 85.60 — Modification of plan

New York § 85.60

Law LFNLocal Finance

Title 6-ALocal Obligations: Financial Emergency; Condition Precedent to Claims; Stay of Claims; Repayment Plan For Municipality; Termination of Stay

Art. 2Local Indebtedness

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Bluebook

N.Y. Local Finance § 85.60 (2026).

Text

  § 85.60 Modification of plan.  At any time prior to the entry of an\norder approving or disapproving a repayment plan pursuant to section\n85.40 of this title, the municipality, with the approval of its\nfinancial emergency control board, or any such board with or without the\napproval of the municipality, may file modifications thereof, subject to\nthe power of the court to enter an order prohibiting the filing of a\nfurther modification if it finds, after a hearing, that such\nmodification or any prior modification or the repayment plan was not\nfiled in good faith. At any time subsequent to the entry of an order\napproving a repayment plan, any such modifications may only be filed by\nleave of the court, after a hearing. Upon the filing at any time of any\nmodification of a repayment 

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§ 85.60 Modification of plan. At any time prior to the entry of an\norder approving or disapproving a repayment plan pursuant to section\n85.40 of this title, the municipality, with the approval of its\nfinancial emergency control board, or any such board with or without the\napproval of the municipality, may file modifications thereof, subject to\nthe power of the court to enter an order prohibiting the filing of a\nfurther modification if it finds, after a hearing, that such\nmodification or any prior modification or the repayment plan was not\nfiled in good faith. At any time subsequent to the entry of an order\napproving a repayment plan, any such modifications may only be filed by\nleave of the court, after a hearing. Upon the filing at any time of any\nmodification of a repayment plan, the court shall hold a hearing\npursuant to section 85.40 of this title and shall enter an order\ncontinuing or extending such stay as may then be in effect pursuant to\nsection 85.30 or 85.40 of this title for such additional period of time\nas may be required to permit the court to enter an order pursuant to\nsection 85.40 of this title with respect to the modified plan.\n