§ 99-Y — SUNY Stony Brook Affiliation escrow fund

New York § 99-Y

• Jurisdiction: New York
• Law STF: State Finance
• Art. 6: Funds of the State

Text

* § 99-y. SUNY Stony Brook Affiliation escrow fund. 1. Notwithstanding\nany other provision of law, rule, regulation, or practice to the\ncontrary, there is hereby established in the joint custody of the\ncomptroller and the chancellor of the state university of New York\n(SUNY) a trust and agency fund, to be known as the "SUNY Stony Brook\nAffiliation escrow fund" which shall be available without fiscal year\nlimitation.\n 2. The SUNY Stony Brook Affiliation escrow fund shall consist of (i)\nall monies generated through the activities of Stony Brook at\nSouthampton Hospital, including but not limited to patient revenue,\nfederal reimbursement, and other associated revenue sources, (ii) rent\npayments made by Stony Brook University Hospital to the Southampton\nHospital Association under a certain lease agreement approved by the\ndirector of the budget, the office of the New York state attorney\ngeneral and the office of the New York state comptroller and (iii) to\nthe extent permitted under the lease agreement referred to in paragraph\n(ii) of this subdivision, working capital advances and capital\nacquisition advances made by Stony Brook University Hospital to the\nSouthampton Hospital Association.\n 3. Monies of the SUNY Stony Brook Affiliation escrow fund shall be\nexpended only for the purposes of Stony Brook Hospital at Southampton.\n * NB There are 3 § 99-y's\n