N.Y. Executive Law 209-F – Transfer of certain functions of the science and technology foundation
§ 209-f. Transfer of certain functions of the science and technology foundation. 1. Transfer of the small business technology investment fund. Upon the transfer pursuant to section two hundred nine-d of this Article -A of the public authorities law to the office as prescribed by section two hundred nine-d of this article, notwithstanding section twenty-eight of section one of chapter one hundred seventy-four of the laws of nineteen hundred sixty-eight, the administration of the small business technology investment fund shall be transferred and assigned to, assumed by and devolved upon the urban development corporation, and the administration of the small business technology investment fund is hereby determined to be a corporate purpose of the urban development corporation.
Terms Used In N.Y. Executive Law 209-F
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Office: shall mean the New York state office of science, technology and academic research. See N.Y. Executive Law 209
2. Transfer of certain assets and liabilities. Upon the transfer pursuant to section two hundred nine-d of this Article -A of the public authorities law to the office as prescribed by section two hundred nine-d of this article, all of the assets and liabilities of the small business technology investment fund established pursuant to appropriations made by various chapters of the law including, but not limited to chapter fifty-three of the laws of nineteen hundred eighty-one, chapter fifty-three of the laws of nineteen hundred eighty-five, chapter fifty-three of the laws of nineteen hundred eighty-six, chapter fifty-three of the laws of nineteen hundred eighty-seven, chapter fifty-three of the laws of nineteen hundred eighty-eight, chapter fifty-three of the laws of nineteen hundred eighty-nine, chapter fifty-three of the laws of nineteen hundred ninety, chapter fifty-three of the laws of nineteen hundred ninety-one, chapter fifty-three of the laws of nineteen hundred ninety-two, chapter fifty-three of the laws of nineteen hundred ninety-three, chapter fifty-three of the laws of nineteen hundred ninety-four, and chapter fifty-three of the laws of nineteen hundred ninety-five shall be transferred to the urban development corporation.
3. Transfer of certain appropriations. Upon the transfer pursuant to section two hundred nine-d of this Article -A of the public authorities law to the office as prescribed by section two hundred nine-d of this article, appropriations enacted heretofore for the small business technology investment fund made pursuant to various chapters of the law including, but not limited to, chapter fifty-three of the laws of nineteen hundred eighty-one, chapter fifty-three of the laws of nineteen hundred eighty-five, chapter fifty-three of the laws of nineteen hundred eighty-six, chapter fifty-three of the laws of nineteen hundred eighty-seven, chapter fifty-three of the laws of nineteen hundred eighty-eight, chapter fifty-three of the laws of nineteen hundred eighty-nine, chapter fifty-three of the laws of nineteen hundred ninety, chapter fifty-three of the laws of nineteen hundred ninety-one, chapter fifty-three of the laws of nineteen hundred ninety-two, chapter fifty-three of the laws of nineteen hundred ninety-three, chapter fifty-three of the laws of nineteen hundred ninety-four, and chapter fifty-three of the laws of nineteen hundred ninety-five, all appropriations and reappropriations heretofore made to the science and technology foundation, or segregated pursuant to law, to the extent of remaining unexpended or unencumbered balances thereof, whether allocated or unallocated and obligated or unobligated, shall be transferred and made available to for use and expenditure by the urban development corporation for the same purpose for which originally appropriated or reappropriated and shall be payable on vouchers certified or approved by the commissioner of taxation and finance, on audit and warrant of the comptroller.
4. Transfer of certain records. Upon the transfer pursuant to section two hundred nine-d of this Article -A of the public authorities law to the office as prescribed by section two hundred nine-d of this article, all books, papers, records and property pertaining to the small business technology investment fund shall be maintained by the urban development corporation.