N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 610: Moneys of corporation

§ 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

standing.

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.