Public Authorities Law § 2642-l · Title 28-AA. Chautauqua, Cattaraugus, Allegany and Steuben Southern Tier Extension Railroad Authority
Monies of the authority
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 2642-l. Monies of the authority. All monies of the authority from whatever source derived shall be paid to the treasurer of the authority and shall be deposited forthwith in an interest-bearing account in a bank or banks designated by the authority. The monies in such accounts shall be paid out or withdrawn on the order of such person or persons as the authority may authorize to make such requisitions. All deposits of such monies shall be secured by obligations of the United States or of the state or of any municipality of a market value equal at all times to the amount on deposit and all banks and trust companies are authorized to give such security for such deposits. To the extent practicable, consistent with the cash requirements of the authority, all such monies shall be deposited in interest-bearing accounts. Any monies of the authority not required for immediate use or disbursement may, be invested in accordance with section ninety-eight or ninety-eight-a of the state finance law.
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/PBA2642-L
- Text hash
- sha256 d0dd5df63b20929411c87fc3b257731cf1018b488dcd1180b2a5b983482dc192
- 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.