N.Y. Racing, Pari-Mutuel Wagering and Breeding Law 127 – Transfer of assets and liabilities
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§ 127. Transfer of assets and liabilities. All assets and liabilities of the former division of the lottery and former racing and wagering board are hereby transferred to and assumed by the commission.
Terms Used In N.Y. Racing, Pari-Mutuel Wagering and Breeding Law 127
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.