§ 604 — Powers of the corporation

New York § 604

• Jurisdiction: New York
• Law PML: Racing, Pari-Mutuel Wagering and Breeding Law
• Art. 6: New York City Off-track Betting Corporation

Text

§ 604. Powers of the corporation. The corporation shall have power:\n 1. To sue and be sued;\n 2. To have a seal and to alter the same at its pleasure;\n 3. To acquire, hold, lease, rent and dispose of personal property for\nits corporate purpose;\n 4. To acquire, in the name of the state, by purchase, condemnation,\ngift, grant or devise or otherwise, and to use, real property which is\nnecessary or convenient for carrying out its corporate purpose; provided\nthat the corporation shall not condemn any real property without first\nhaving obtained the consent of the mayor. All real property acquired by\nthe corporation by condemnation shall be acquired in the manner provided\nby law for the condemnation of real property by the state;\n 5. To make by-laws for the management and regulation of its affairs;\n 6. With the consent of the state, to use agents, officers, employees,\nand facilities of the state, paying to the state its agreed proportion\nof the compensation or costs;\n 7. To appoint officers, agents and employees, to prescribe their\nqualifications and to fix their compensation; subject, however, to the\nprovisions of section six hundred six of this article;\n 8. To make contracts and leases, including joint ventures with third\nparties or entities, and to execute all instruments necessary or\nconvenient to accomplish its corporate purpose; provided, however, that\nthe corporation may only enter into agreements for the purchase or lease\nof any property to be used in whole or in part as an off-track betting\nbranch office which is conditioned upon the location thereof being\napproved by the site selection board; and further provided, that such\nlocation prior to its use as such off-track betting branch office shall\nhave been approved by the site selection board;\n 9. To construct such buildings, structures and facilities as may be\nnecessary;\n 10. To accept grants, loans and contributions from the United States,\nthe state or any agency or instrumentality of either of them, or the\ncity, or any person, including gifts or transfers by bequest or\notherwise, and to use same or expend the proceeds thereof for its\ncorporate purpose;\n 11. In the manner and subject to the terms and conditions set forth in\nthis article, and article five-a of this chapter to establish and\nconduct a system of off-track pari-mutuel betting in the city on horse\nraces;\n 12. a. To promulgate, amend and repeal such rules and regulations,\nconsistent with the provisions of this article, as it may deem necessary\nor desirable for the carrying out of the purposes of this article. Such\nrules and regulations shall have the force and effect of law.\n b. No rule or regulation promulgated by the corporation pursuant to\nthe provisions of this subdivision shall be effective until a copy\nthereof is filed with the commission.\n c. Any violation of any rule or regulation, filed with the commission\nand designated by the letter "R" by resolution of the board of directors\nof the corporation, shall be an offense triable by a judge of the\ncriminal court of the city, and shall be punishable by imprisonment for\nnot more than six months, or by a fine of not more than one thousand\ndollars, or by both such imprisonment and fine. All such fines collected\nshall be paid into the general fund of the state. Any such rule or\nregulation shall be effective, notwithstanding that any act or omission\nmade an offense or punishable thereby may be a crime or offense or\npunishable under any other provision of law;\n 13. To perform such other acts and engage in such other activities as\nmay be necessary and proper for exercising its powers and performing its\nduties under this article.\n