§ 2718. Limitation of liability; indemnification. 1. Neither the members of the authority nor any person acting in its behalf, while acting within the scope of their authority, shall be subject to any personal liability resulting from carrying out any of the powers expressly given in or authorized by this title.

Terms Used In N.Y. Public Authorities Law 2718

  • Authority: shall mean the public benefit corporation created by section twenty-seven hundred three of this title, known as the development authority of the north country. See N.Y. Public Authorities Law 2702
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Person: shall mean any natural person, partnership, association, joint venture or corporation, exclusive of a public corporation. See N.Y. Public Authorities Law 2702

2. The provisions of § 18 of the public officers law shall apply to members, officers, employees and agents of the authority in connection with any and all claims, demands, suits, actions or proceedings which may be made or brought against any of them arising out of any determinations made or actions taken or omitted to be taken in compliance with any obligations under or pursuant to the terms of this title.

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