N.Y. Public Authorities Law Section 2636
Moneys of the commission

All moneys of the commission from whatever source derived shall be paid to the treasurer and shall be deposited forthwith in one or more banks and/or trust companies in the state designated by the commission. The moneys in such accounts shall be paid out on checks of the treasurer upon requisition by the chairman of the commission or of such other officer or officers as the commission may authorize to make such requisitions. All deposits of such moneys shall be secured by obligations of or guaranteed by the United States of America or of the state 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 commission not required for immediate use or disbursement may, at the discretion of the commission, 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.

Source: Section 2636 — Moneys of the commission, https://www.­nysenate.­gov/legislation/laws/PBA/2636 (updated Sep. 22, 2014; accessed Apr. 12, 2025).

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Accessed:
Apr. 12, 2025

Last modified:
Sep. 22, 2014

§ 2636’s source at nysenate​.gov

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