* § 1020-c. Long Island power authority; creation. 1. For the purpose of effectuating the policy declared in section one thousand twenty-a of this title, there is hereby created a corporate municipal instrumentality of the state to be known as the "Long Island power authority", which shall be a body corporate and politic and a political subdivision of the state, exercising essential governmental and public powers.

Terms Used In N.Y. Public Authorities Law 1020-C

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.

2. The area of operations of the authority shall be the service area.

3. The authority is not created or organized, and its operations shall not be conducted, for the purpose of making a profit. No part of the revenues or assets of the authority shall inure to the benefit of or be distributable to its trustees or officers or any other private persons, except as herein provided for actual services rendered.

* NB There are 2 § 1020-c's

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