§ 50. When county divided or boundaries altered. Whenever the legislature divides a county or alters its boundaries, the act shall provide the method and manner of the disposition of assets and apportionment of liabilities of such county or counties.

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Terms Used In N.Y. County Law 50

  • 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.