§ 2671. 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 2671

  • 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

2. The board shall elect the provisions of § 18 of the public officers law to apply to the 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 failed to be taken in compliance with any obligations under or pursuant to the terms of this title.

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