New York § 609 Contracts of corporation

New York Statutes

§ 609 — Contracts of corporation

New York § 609

Law PMLRacing, Pari-Mutuel Wagering and Breeding Law

Art. 6New York City Off-track Betting Corporation

This text of New York § 609 (Contracts of corporation) 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. Racing, Pari-Mutuel Wagering and Breeding Law § 609 (2026).

Text

§ 609. Contracts of corporation. 1. The corporation shall let\ncontracts for construction or any other work, including the furnishing\nof materials or supplies incident thereto, and contracts for the\npurchase or procurement of equipment, materials or supplies:

(i)in the\nmanner provided by law with respect to the letting of such contracts by\nthe state, except that where the estimated expense of a contract does\nnot exceed ten thousand dollars, such contract may be entered into\nwithout public letting, provided however, that where the corporation\ndetermines with respect to any contract that it would not be in the\npublic interest to comply with this section and the office of general\nservices, concurs in such determination, then it may enter into such\ncontract without public letting

Free access — add to your briefcase to read the full text and ask questions with AI

§ 609. Contracts of corporation. 1. The corporation shall let\ncontracts for construction or any other work, including the furnishing\nof materials or supplies incident thereto, and contracts for the\npurchase or procurement of equipment, materials or supplies: (i) in the\nmanner provided by law with respect to the letting of such contracts by\nthe state, except that where the estimated expense of a contract does\nnot exceed ten thousand dollars, such contract may be entered into\nwithout public letting, provided however, that where the corporation\ndetermines with respect to any contract that it would not be in the\npublic interest to comply with this section and the office of general\nservices, concurs in such determination, then it may enter into such\ncontract without public letting as authorized; or (ii) in the manner\nprovided in section five hundred seven of this chapter, if in\nconjunction with one or more regional off-track betting corporations.\n 2. The corporation may make rules and regulations governing the\nqualifications of bidders entering into such a contract where the cost\nof such a contract exceeds ten thousand dollars. The bidding may be\nrestricted to those who shall have qualified prior to the receipt of\nbids according to standards fixed by the corporation; provided, however,\nthat notice or notices for the submission of qualifications shall be\npublished in the state register and in an appropriate trade journal\npublished in the state, at least once, not less than ten days prior to\nthe date fixed for the filing of qualifications.\n 3. It shall be a misdemeanor for a director of the corporation or an\nofficer, agent, executive or other employee retained, employed or\nappointed by the corporation to be in any manner or way interested,\ndirectly or indirectly, as principal, surety or otherwise in a contract,\nthe expense or consideration whereof is payable out of funds of the\ncorporation. The corporation shall be subject to procurement lobbying as\nprovided in sections one hundred thirty-nine-j and one hundred\nthirty-nine-k of the state finance law.\n