New York § 1810 Moneys of the authority

New York Statutes

§ 1810 — Moneys of the authority

New York § 1810

JurisdictionNew York

Law PBAPublic Authorities

Title 8New York Job Development Authority

Subtitle 1General Provisions

Art. 8Miscellaneous Authorities

This text of New York § 1810 (Moneys of the authority) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Public Authorities § 1810 (2026).

Text

§ 1810. Moneys of the authority.

1.All moneys of the authority, from\nwhatever source derived, shall be paid to the commissioner of taxation\nand finance as agent of the authority, who shall not commingle such\nmoneys with any other moneys. Such moneys shall be deposited in a\nseparate bank account or accounts. The moneys in such accounts shall be\npaid out on checks signed by the commissioner of taxation and finance on\nrequisition of the president of the authority or of such other officer\nor employee or officers or employees of the authority as the authority\nshall authorize to make such requisition. All deposits of such moneys\nshall, if required by the commissioner of taxation and finance or the\nauthority, be secured by obligations of the United States of America or\nof the state

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§ 1810. Moneys of the authority. 1. All moneys of the authority, from\nwhatever source derived, shall be paid to the commissioner of taxation\nand finance as agent of the authority, who shall not commingle such\nmoneys with any other moneys. Such moneys shall be deposited in a\nseparate bank account or accounts. The moneys in such accounts shall be\npaid out on checks signed by the commissioner of taxation and finance on\nrequisition of the president of the authority or of such other officer\nor employee or officers or employees of the authority as the authority\nshall authorize to make such requisition. All deposits of such moneys\nshall, if required by the commissioner of taxation and finance or the\nauthority, be secured by obligations of the United States of America or\nof the state of a market value equal at all times to the amount of the\ndeposit and all banks and trust companies are authorized to give such\nsecurity for such deposits.\n 2. Notwithstanding the provisions of subdivision one of this section,\nthe authority shall have power, subject to the approval of the\ncommissioner of taxation and finance, to contract with the holders of\nany of its bonds or notes, as to the custody, collection, securing,\ninvestment and payment of any moneys of the authority, or of any moneys\nheld in trust or otherwise for the payment of bonds or notes, and to\ncarry out such contracts. Moneys held in trust or otherwise for the\npayment of bonds or notes or in any way to secure bonds or notes and\ndeposits of such moneys may be secured in the same manner as moneys of\nthe authority, and all banks and trust companies are authorized to give\nsuch security for such deposits.\n 3. Any moneys of the authority not required for immediate use or\ndisbursement may, at the discretion of the authority, be invested by the\ncommissioner of taxation and finance in accordance with all of the\notherwise consistent provisions of section ninety-eight-a of the state\nfinance law.\n 4. Subject to the provisions of any contract with bondholders and\nnoteholders and to the approval of the comptroller, the authority shall\nprescribe a system of accounts.\n