Public Authorities Law § 2550 · Title 26. New York City Stabilization Reserve Corporation
Termination of authority and existence
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 2550. Termination of authority and existence. At such time as notes and bonds of the corporation or notes and bonds of the municipal assistance corporation for the city of New York, or any combination thereof, are outstanding in the aggregate principal amount equal to five hundred twenty million dollars, the purposes for which the corporation was created shall have been satisfied and the corporation shall not be authorized to issue any notes or bonds that would cause such aggregate amount to be exceeded. If the corporation has no notes or bonds outstanding at such time as its authorization to issue notes or bonds terminates, the existence of the corporation shall terminate.
Source of truth
- Edition
- Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/PBA2550
- Text hash
- sha256 055fff93b3ea6eda5db99186875b68f650ad2a6a686365964ccb2a623ab8f0d3
- 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.