N.Y. State Finance Law 179-L – Provisions to control
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§ 179-l. Provisions to control. No contract entered into after July first, nineteen hundred eighty-four shall contain any provision requiring the payment of interest in a manner inconsistent with this article, and any provision contained in such contract which waives the right to the payment of interest is hereby declared to be contrary to public policy and wholly void.
Terms Used In N.Y. State Finance Law 179-L
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means an enforceable agreement entered into by a contractor and a state agency. See N.Y. State Finance Law 179-E