Statute · New York Racing, Pari-Mutuel Wagering and Breeding Law
N.Y. Rac. Pari-Mut. Wag. & Breed. Law § 624 — Termination of the corporation
N.Y. Rac. Pari-Mut. Wag. & Breed. Law § 624
- Type
- Statute
- Source
- New York Racing, Pari-Mutuel Wagering and Breeding Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 624. Termination of the corporation. The corporation and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the corporation shall have bonds, notes or other obligations outstanding. Upon termination of the existence…
Citator
N.Y. Rac. Pari-Mut. Wag. & Breed. Law § 624 — Termination of the corporation is in force in the current edition of the Code, and nothing recorded condemns it.
§ 624. Termination of the corporation. The corporation and its corporate existence shall continue until terminated by law; provided, however, that no such law shall take effect so long as the corporation shall have bonds, notes or other obligations outstanding. Upon termination of the existence of the corporation all of its rights, property, assets and funds shall thereupon vest in and be possessed by the state.