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This entry was published on 2020-10-16
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Moneys of corporation
Racing, Pari-Mutuel Wagering and Breeding Law (PML) CHAPTER 47-A, ARTICLE 6
§ 610. Moneys of corporation. 1. The monetary transactions of the
corporation and the keeping of its books and accounts shall be under the
supervision of the director of the division of the budget. The chair of
the commission may at any time request and shall be provided for review
such books and accounts.

2. All moneys due the city pursuant to article five-A of this chapter
shall be paid to the New York city comptroller.

3. The state comptroller and his legally authorized representative are
authorized to examine the accounts and books of the corporation,
including its receipts, disbursements, contracts, leases, sinking funds,
investments and any other records and papers relating to its financial

4. The corporation shall have power, notwithstanding the provisions of
this section, to contract with the holders of any of its bonds as to the
custody, collection, securing, investment and payment of any moneys of
the corporation or any moneys held in trust or otherwise for the payment
of bonds in any way to secure bonds, and to carry out any such contract
notwithstanding that such contract may be inconsistent with the previous
provisions of this section.

5. Moneys held in trust or otherwise for the payment of bonds or in
any way to secure bonds and deposits of such moneys may be secured in
the same manner as moneys of the corporation, and all banks and trust
companies are authorized to give such security for such deposits.