N.Y. Arts and Cultural Affairs Law § 20.25: Remedies of bondholders and noteholders

§ 20.25. Remedies of bondholders and noteholders. 1. The supreme court

shall have jurisdiction of any suit, action or proceeding by or on

behalf of the holders of any bonds or notes issued by a trust. The venue

of any such suit, action, or proceeding shall be laid in the county in

which the principal office of the trust is located.

2. Before the principal of notes or bonds of a trust is declared due

and payable by or on behalf of bondholders and noteholders thereof,

thirty days notice shall first be given in writing to the governor, to

the attorney general of the state, to the mayor of the municipality or

chief executive officer of the county in which the principal office of

the trust is located and to the trust.