NY S05019

The board shall wind up the affairs of the Clifton-Fine Health Care Corporation (public benefit corporation) by December 31, 2012, at which point the corporation ceases to exist.

All assets, functions, powers, rights, privileges, liabilities, obligations, and duties transfer to the Clifton-Fine Health Care Corporation, a not-for-profit corporation, by December 31, 2012.

All books, papers, records, and property of the public benefit corporation must be delivered to the not-for-profit corporation by December 31, 2012.

All outstanding tax-exempt bonds, notes, and other rights and properties must be repaid or transferred to the not-for-profit corporation by December 31, 2012.

The transfer requires no further approval or consent under public health law, mental hygiene law, social services law, or other state laws or regulations.

Title 5 of article 10-C of the public authorities law is repealed.