{"data":{"id":"us-ny/n.y.-general-business-law-756-d","jurisdiction":"us-ny","citation":"N.Y. General Business Law § 756-d","heading":"Exceptions for failure of lender to disburse funds","body":"§ 756-d. Exceptions for failure of lender to disburse funds. The date\nof payment required by the owner, the contractor and/or subcontractor\npursuant to section seven hundred fifty-six-a of this article, shall be\nextended to the seventh day after the owner, contractor or\nsubcontractor, as the case may be, receives loan proceeds necessary to\nmake such payment in the event that:\n  1. the owner, contractor or subcontractor, as the case may be, has\nobtained a loan intended to pay for all or part of the construction\ncontract;\n  2. the owner, contractor or subcontractor, as the case may be, has\ntimely requested disbursement of proceeds from that loan; and\n  3. the lender is legally obligated to disburse such proceeds to the\nowner, contractor or subcontractor, as the case may be, but has failed\nto do so in a timely manner.","path":["General Business Law","Article 35-E. Construction Contracts"],"source_url":"https://legislation.nysenate.gov/api/3/laws/GBS/756-D","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"15ccd8a58201b362344a6e86cc2d07788ce508eeabe767e09caabd7d532b9262","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-general-business-law-756-c","next":"us-ny/n.y.-general-business-law-756-e"},"notice":"GroundRules: Original legal text. Not legal advice."}