N.Y. Executive Law 209-G – Transfer of assets and liabilities
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§ 209-g. Transfer of assets and liabilities. Upon the transfer pursuant to section two hundred nine-d of this Article -A of the public authorities law to the office as prescribed by section two hundred nine-d of this article, except as otherwise provided in section two hundred nine-f of this article, all assets and liabilities of the science and technology foundation are hereby transferred to and assumed by the office.
Terms Used In N.Y. Executive Law 209-G
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Office: shall mean the New York state office of science, technology and academic research. See N.Y. Executive Law 209