Loading chat...
NY A02960
Bill
Status
1/21/2011
Primary Sponsor
James Bacalles
Click for details
AI Summary
-
Amends Public Authorities Law Section 1203 to establish that upon conveyance of transit facilities by deed, lease, license, or other arrangement, the authority shall be deemed the sole owner with respect to all obligations and liabilities imposed by law on property owners.
-
Amends Public Authorities Law Section 1203-a to establish that upon conveyance of any omnibus line acquired by the city to a subsidiary corporation, the subsidiary corporation shall be deemed the sole owner with respect to all obligations and liabilities imposed by law on property owners.
-
Takes effect immediately and applies to all matters arising on or after the effective date and to all pending matters as of the effective date.
Legislative Description
Directs, upon conveyance of certain transit facilities, that the New York city transit authority shall be deemed the sole owner of such facilities with respect to all obligations and liabilities imposed by law on property owners.
Last Action
referred to corporations, authorities and commissions
1/21/2011