Public Authorities Law § 2977 · Title 10. State Governmental Cost Recovery System
Applicability of title
Text — Law content up to date as of October 2, 2026, as published by the New York State Senate (Open Legislation)
§ 2977. Applicability of title. 1. The provisions of this title shall not be construed to, nor shall they be implemented in such a manner as to:
(a) require the application of monies pledged to the security of bonds, notes or other obligations in violation of applicable bond covenants; or
(b) otherwise impair the rights of bondholders of the public benefit corporations affected by this title.
2. To the extent precluded by interstate or international compact which creates any public benefit corporation, the provisions of this title shall not apply to any such public benefit corporation until the passage of legislation, by the other party to such compact, which validates or has the same effect as this title.
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/PBA2977
- Text hash
- sha256 ed1c9d00a44e75535ccc76389863519612d50a25829365dccf5fce4030e6ef12
- 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.