N.Y. General Municipal Law 93-D – Payroll payment by banks or trust companies
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§ 93-d. Payroll payment by banks or trust companies. The governing body of any municipal corporation, school district, district corporation, town or county improvement district, public authority, or public corporation may enter into a contract to provide for the deposit of the periodic payroll of such corporations, districts or authorities in a bank or trust company for disbursal by them in accordance with the provisions of § 96-b of the banking law.
Terms Used In N.Y. General Municipal Law 93-D
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.