N.Y. PBA Law § 1869
This is the official text of N.Y. PBA Law § 1869, part of New York’s PBA Law — part of the compiled statutory law of New York, published by the state as "PBA Law." Browse the sections below, each linked to its official government source.
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Termination of the authority
Official statutory text
§ 1869. Termination of the authority. The authority and its corporate\nexistence shall continue until terminated by law, provided, however,\nthat no such law shall take effect so long as the authority shall have\nbonds, notes or other obligations outstanding. Upon termination of the\nexistence of the authority all its rights, property, assets and funds\nshall pass to and be vested in the state. For the purposes of this\nsection, any appropriation or advance made to the authority by the\nstate, which has not been repaid, shall not be deemed to be an\noutstanding obligation of the authority.\n
Status: in_force · Read it on the official government site
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