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Local Finance Law § 85.60 · Title 6-A. Local Obligations: Financial Emergency; Condition Precedent to Claims; Stay of Claims; Repayment Plan For Municipality; Termination of Stay

Modification of plan

Verbatim from the official edition

Text — Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)

§ 85.60 Modification of plan. At any time prior to the entry of an order approving or disapproving a repayment plan pursuant to section 85.40 of this title, the municipality, with the approval of its financial emergency control board, or any such board with or without the approval of the municipality, may file modifications thereof, subject to the power of the court to enter an order prohibiting the filing of a further modification if it finds, after a hearing, that such modification or any prior modification or the repayment plan was not filed in good faith. At any time subsequent to the entry of an order approving a repayment plan, any such modifications may only be filed by leave of the court, after a hearing. Upon the filing at any time of any modification of a repayment plan, the court shall hold a hearing pursuant to section 85.40 of this title and shall enter an order continuing or extending such stay as may then be in effect pursuant to section 85.30 or 85.40 of this title for such additional period of time as may be required to permit the court to enter an order pursuant to section 85.40 of this title with respect to the modified plan.

Source of truth

Edition
Law content up to date as of September 4, 2026, as published by the New York State Senate (Open Legislation)
Official file
https://legislation.nysenate.gov/pdf/laws/LFN85.60
Text hash
sha256 b83948c089126e30168fd76549b775dde44aa30106f216772efdf6ec6b311c72
Composed by
gen_ny_statutes.py 2026-11-10: the Senate's Open Legislation law tree (GET /api/3/laws/<ID>?full=true) read in document order; the Senate's PDF of the whole law (GET /pdf/laws/<ID>?full=true), read with PDFium, prints the same words in the same order

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.