Statute · New York County Law
N.Y. County Law § 906 — Liability of city of New York for loss of court and trust funds
N.Y. County Law § 906
- Type
- Statute
- Source
- New York County Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 906. Liability of city of New York for loss of court and trust funds. The city of New York shall be responsible for all property or moneys deposited with the commissioner of finance by virtue of any judgment, decree or order of a court of record in this state provided, however, that the city…
Citator
N.Y. County Law § 906 — Liability of city of New York for loss of court and trust funds is in force in the current edition of the Code, and nothing recorded condemns it.
§ 906. Liability of city of New York for loss of court and trust funds. The city of New York shall be responsible for all property or moneys deposited with the commissioner of finance by virtue of any judgment, decree or order of a court of record in this state provided, however, that the city shall not be held liable for any loss due to the depreciated value of an investment legal at the time of its purchase and which continued to be a legal investment during the period of the trust. An action to recover any loss to or of such fund may be brought against the city by any party aggrieved or by the state comptroller in a court of competent jurisdiction.