N.Y. Public Authorities Law 3569 – Defense and indemnification
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§ 3569. Defense and indemnification. The provisions of sections seventeen and nineteen of the public officers law shall be applicable to employees of the corporation (as such term is defined in sections seventeen and nineteen of the public officers law) pursuant to subdivision two of such section; provided, however, that nothing contained within this § of the public officers law upon any independent contractor.
Terms Used In N.Y. Public Authorities Law 3569
- 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.
- 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