Legislation
SECTION 569-C
Transfer and receipt of surplus funds
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 3, TITLE 3
§ 569-c. Transfer and receipt of surplus funds. Notwithstanding any
provision of this title or any other provision of law, general, special
or local, the authority shall, at the direction of the metropolitan
transportation authority, from time to time transfer and pay over all or
any part of its surplus funds to (a) metropolitan transportation
authority or (b) New York city transit authority, all in accordance with
the provisions of subdivision twelve of section five hundred fifty-three
of this title and the determination of the proportional allocation of
such amounts of surplus funds so deposited as between the New York city
transit authority and the commuter railroads operated by metropolitan
transportation authority shall be governed by the provisions of section
twelve hundred nineteen-a of this chapter and the authority may accept
and use any moneys transferred and paid over to it by metropolitan
transportation authority or New York city transit authority.
provision of this title or any other provision of law, general, special
or local, the authority shall, at the direction of the metropolitan
transportation authority, from time to time transfer and pay over all or
any part of its surplus funds to (a) metropolitan transportation
authority or (b) New York city transit authority, all in accordance with
the provisions of subdivision twelve of section five hundred fifty-three
of this title and the determination of the proportional allocation of
such amounts of surplus funds so deposited as between the New York city
transit authority and the commuter railroads operated by metropolitan
transportation authority shall be governed by the provisions of section
twelve hundred nineteen-a of this chapter and the authority may accept
and use any moneys transferred and paid over to it by metropolitan
transportation authority or New York city transit authority.