N.Y. Comp. Codes R. & Regs. tit. 21 § 504.11

Current through Register Vol. 46, No. 43, October 23, 2024

Section 504.11 - Court action or other legal processes

(a) Notwithstanding any other law to the contrary, the liability of the authority to make an interest payment to a contractor pursuant to this Part shall not extend beyond the date of a notice of intention to file a claim, the date of a notice of a claim, or the date commencing a legal action for the payment of such interest, whichever occurs first.

(b) With respect to the court action or other legal processes referred to in subdivision (a) of this section, any interest obligation incurred by the authority after the date specified therein pursuant to any provision of law other than Public Authorities Law, section 2880 shall be determined as prescribed by such separate provision of law, shall be paid as directed by the court, and shall be paid from any source of funds available for that purpose.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 504.11