N.Y. Public Authorities Law 1621-R – Termination of the authority
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* § 1621-r. Termination of the authority. Whenever all of the bonds and notes issued by the authority shall have been redeemed or cancelled, and all its liabilities and duties met or discharged, the authority shall cease to exist and all rights, title and interests and all obligations and liabilities thereof vested in or possessed by the authority shall thereupon vest in and be possessed by the city of Middletown.
Terms Used In N.Y. Public Authorities Law 1621-R
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
* NB Repealed per § 1621-r (see chapter 597 of 2023 § 2 for specifics)