N.Y. Public Authorities Law Section 2052-H
Moneys of the authority

All moneys of the authority from whatever source derived shall be paid to the treasurer of the authority, or to the county commissioner of finance as agent of the authority if the board shall so determine, and shall be deposited forthwith in a bank or banks in the state designated by the board. The moneys in such accounts shall be paid out on check of the treasurer or county commissioner of finance, as the case may be, upon requisition by the board or of such other person or persons as the board may authorize to make such requisitions. All deposits of such moneys shall be secured by obligations of the United States or of the state or of the county or of any other municipality within the county of a market value equal at all times to the amount on deposit and all banks and trust companies are authorized to give such security for such deposits. Any moneys of the authority not required for immediate use or disbursement may, at the discretion of the authority, be invested in those obligations specified pursuant to the provisions of State Finance Law § 98-A (Investment of general funds, bond proceeds, and other funds not immediately required)section ninety-eight-a of the state finance law. With the approval of the comptroller, the authority shall prescribe a system of accounts.

Source: Section 2052-H — Moneys of the authority, https://www.­nysenate.­gov/legislation/laws/PBA/2052-H (updated Sep. 22, 2014; accessed Oct. 26, 2024).

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Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 2052-H’s source at nysenate​.gov

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