§ 179-y. Duties of the comptroller. 1. The state comptroller shall: (a) promulgate such rules and regulations as may be necessary to carry out the comptroller's responsibilities under this article including provisions for repayment; and (b) develop and implement a procedure for calculating the amount of interest, if any, due to any not-for-profit organization pursuant to the provisions of this article.

Terms Used In N.Y. State Finance Law 179-Y

  • organization: means a domestic corporation incorporated pursuant to or otherwise subject to the not-for-profit corporation law, a charitable organization registered with the secretary of state, a special act corporation created pursuant to chapter four hundred sixty-eight of the laws of eighteen hundred ninety-nine, as amended, a special act corporation formed pursuant to chapter two hundred fifty-six of the laws of nineteen hundred seventeen, as amended, a corporation authorized pursuant to an act of congress approved January fifth, nineteen hundred five, (33 stat. See N.Y. State Finance Law 179-Q

2. Nothing contained in this section shall be deemed to preclude the comptroller from subsequently promulgating, developing, or amending rules and regulations or procedures pursuant to, and consistent with, this article.

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