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NY A01114
Bill
Status
1/9/2025
Primary Sponsor
Angelo Santabarbara
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AI Summary
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Prohibits the New York Department of State from issuing a certificate of dissolution for the pension fund of former St. Clare's Hospital employees in Schenectady
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Blocks filing of any Supreme Court judgment or final order of dissolution for the pension fund until required investigations are completed
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Requires an investigation and/or audit by the NYS Department of Health, Attorney General, or State Comptroller to determine if there was impropriety in handling and management of pension fund assets
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Mandates a 60-day waiting period after the conclusion of any such investigation before dissolution can proceed
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Takes effect immediately upon passage
Legislative Description
Prohibits the New York Department of State from issuing a certificate of dissolution and filing a judgment or final order of dissolution for the pension fund for employees of the former St. Clare's Hospital in the city of Schenectady, county of Schenectady, until an investigation and/or audit by the New York State Department of Health, the New York State Attorney General or the New York State Comptroller has been conducted to ascertain whether there was any impropriety in the handling and management of funds in such pension plan.
Last Action
referred to governmental operations
1/7/2026