RPTL 964 · Title 4. Acceptance of Taxes From Certain Loan Corporations
Deposit and delivery of conditional tax receipts
Text — Law content up to date as of October 30, 2026, as published by the New York State Senate (Open Legislation)
§ 964. Deposit and delivery of conditional tax receipts. 1. Immediately upon the execution of the loan contract between the taxpayer and the loan corporation, the loan corporation shall pay to the municipal corporation the moneys provided for therein. The taxpayer shall make payments on the loan to the banking institution with which the conditional tax receipt has been deposited for the account of the loan corporation.
2. When made, such payments shall be entered and acknowledged by the banking institution upon the conditional tax receipt, which receipt shall remain in the possession of the banking institution until either the loan is fully discharged or a default occurs thereon. In the event the loan is fully discharged, the conditional tax receipt shall be endorsed "paid" and delivered to the taxpayer or person making the payment. In the event of default, the conditional tax receipt shall be returned to the loan corporation at its option.
Source of truth
- Edition
- Law content up to date as of October 30, 2026, as published by the New York State Senate (Open Legislation)
- Official file
- https://legislation.nysenate.gov/pdf/laws/RPT964
- Text hash
- sha256 6b3012aed4efec78be500764e204ff18d8f1906801402c245ccb96a3d224675e
- 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.