§ 610 — Moneys of corporation

New York § 610

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

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§ 610. Moneys of corporation. 1. The monetary transactions of the\ncorporation and the keeping of its books and accounts shall be under the\nsupervision of the director of the division of the budget. The chair of\nthe commission may at any time request and shall be provided for review\nsuch books and accounts.\n 2. All moneys due the city pursuant to article five-A of this chapter\nshall be paid to the New York city comptroller.\n 3. The state comptroller and his legally authorized representative are\nauthorized to examine the accounts and books of the corporation,\nincluding its receipts, disbursements, contracts, leases, sinking funds,\ninvestments and any other records and papers relating to its financial\nstanding.\n 4. The corporation shall have power, notwithstanding the provisions of\nthis section, to contract with the holders of any of its bonds as to the\ncustody, collection, securing, investment and payment of any moneys of\nthe corporation or any moneys held in trust or otherwise for the payment\nof bonds in any way to secure bonds, and to carry out any such contract\nnotwithstanding that such contract may be inconsistent with the previous\nprovisions of this section.\n 5. Moneys held in trust or otherwise for the payment of bonds or in\nany way to secure bonds and deposits of such moneys may be secured in\nthe same manner as moneys of the corporation, and all banks and trust\ncompanies are authorized to give such security for such deposits.\n