N.Y. RPT Law § 964
This is the official text of N.Y. RPT Law § 964, part of New York’s RPT Law — part of the compiled statutory law of New York, published by the state as "RPT Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Deposit and delivery of conditional tax receipts
Official statutory text
§ 964. Deposit and delivery of conditional tax receipts. 1.\nImmediately upon the execution of the loan contract between the taxpayer\nand the loan corporation, the loan corporation shall pay to the\nmunicipal corporation the moneys provided for therein. The taxpayer\nshall make payments on the loan to the banking institution with which\nthe conditional tax receipt has been deposited for the account of the\nloan corporation.\n 2. When made, such payments shall be entered and acknowledged by the\nbanking institution upon the conditional tax receipt, which receipt\nshall remain in the possession of the banking institution until either\nthe loan is fully discharged or a default occurs thereon. In the event\nthe loan is fully discharged, the conditional tax receipt shall be\nendorsed "paid" and delivered to the taxpayer or person making the\npayment. In the event of default, the conditional tax receipt shall be\nreturned to the loan corporation at its option.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.