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The New York Codes, Rules and Regulations (NYCRR) contains New York state rules and regulations. [1] The NYCRR is officially compiled by the New York State Department of State 's Division of Administrative Rules.
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
For example, North Carolina's Governor established the North Carolina Commission on Business Laws and the Economy, [153] New York Chief Judge Judith S. Kaye created a Commercial Courts Task Force, [154] a Nevada Legislative Commission formed a Subcommittee to Encourage Corporations and Other Business Entities to Organize and Conduct Business in ...
The New York Business Corporation Law is the primary corporation statute in the State of New York. It is an influential model in U.S. corporate law. It is chapter 4 of the Consolidated Laws of New York, originally enacted as chapter 567 of the Laws of 1890.
New York Business Corporation Law section 1104-a, the holders of 20 per cent of voting shares of a non-public corporation may request that the corporation be wound up on grounds of oppression. NY Bus Corp Law §1118 and Alaska Plastics, Inc. v. Coppock , 621 P.2d 270 (1980) the minority can sue to be bought out at a fair value, determined by ...
New York state public-benefit corporations are commonly used by the state government to perform a specific purpose, such as investment in infrastructure or regulation of horse racing. These corporations are frequently referred to as authorities .
The New York State Public Authorities Control Board is composed of five members, appointed by the Governor, some upon the recommendation of members of the Legislature.The five members of PACB are appointed by the Governor to serve one-year terms, with one member representing the Governor and acting as the chairperson.
The New York State Authorities Budget Office (ABO) is an independent office in the state of New York established by the Public Authorities Accountability Act of 2005 and signed into law by Governor Pataki in 2006. [1] In 2009, the ABO was restructured as part of the Public Authorities Reform Act. [2]