N.Y. General Municipal Law § 5-a: Electronic or wire transfers

§ 5-a. Electronic or wire transfers. 1. Notwithstanding any other law

to the contrary, whenever an officer of a local government, as that term

is defined in section ten of this article, is authorized or directed

pursuant to law to disburse or transfer on behalf of the local

government funds in the custody of the officer, that officer shall be

authorized to disburse or transfer such funds by means of electronic or

wire transfer. Such disbursement shall be otherwise subject to

applicable laws, provided that:

(a) the governing board of the local government has entered into a

written agreement with the bank or trust company in which such funds

have been deposited, prescribing the manner in which electronic or wire

transfer of such funds shall be accomplished, identifying by number and

name those accounts from which electronic or wire transfers may be made,

identifying which officer or officers are authorized to order the

electronic or wire transfer of funds from those accounts, and

implementing a security procedure as defined in section 4-A-201 of the

uniform commercial code; and

(b) the bank or trust company processing the transfer shall provide to

the officer ordering the electronic or wire transfer of funds written

confirmation of each such transaction no later than the business day

following the day on which the funds are transmitted.

2. It shall be the duty of the governing board of the local government

to adopt a system of internal controls for the documentation and

reporting of all transfers or disbursements of funds accomplished by

electronic or wire transfer.