N.Y. Racing, Pari-Mutuel Wagering and Breeding Law Section 432
Powers of the fund

The fund shall have power:

1.

To sue and be sued.

2.

To have a seal and to alter the seal at its pleasure.

3.

To make by-laws for the management and regulation of its affairs.

4.

To acquire, hold and dispose of personal property for its corporate purposes.

5.

To appoint officers, agents and employees, to prescribe their qualifications and to fix their compensation.

6.

To perform such other acts and engage in such other activities as may be necessary and proper for exercising its powers and performing its duties under this article.

Source: Section 432 — Powers of the fund, https://www.­nysenate.­gov/legislation/laws/PML/432 (updated Sep. 22, 2014; accessed Jul. 12, 2025).

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Verified:
Jul. 12, 2025

Last modified:
Sep. 22, 2014

§ 432. Powers of the fund's source at nysenate​.gov

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