238 – Linked Loans.
§ 238. Linked loans. Linked loans shall be made by lenders pursuant to the program only to eligible borrowers in connection with eligible projects. No such loans shall be made after September thirtieth, two thousand eleven. The credit decisions for making a linked loan shall be made solely by the lender.
239 – Linked Loans Interest Rate; Limitation on Lender’s Fees.
§ 239. Linked loans interest rate; limitation on lender’s fees. 1. Linked loans shall bear interest at the linked loan interest rate. Lenders shall certify to the corporation that the linked loan interest rate is below the interest rate the lender would have charged for the loan in the absence of a linked deposit. 2. […]
220 – Renewal of Linked Deposit.
§ 220. Renewal of linked deposit. A lender may, on behalf of a borrower, apply to the commissioner of economic development to request a renewal of the linked deposit for an additional four year period to correspond with a second four year period of a borrower’s linked loan. The commissioner may grant such application if […]
221 – Liability; Early Repayment and Withdrawal.
§ 221. Liability; early repayment and withdrawal. Nothing contained in this article shall impose liability on the state or any of its departments or employees for payment or delays in payment of the principal or interest of a linked loan. Any delay in payments or any default on a linked loan shall in no way […]
222 – Monitoring and Report.
§ 222. Monitoring and report. 1. The commissioner of economic development shall monitor the activities of participating lenders and businesses and may require periodic reports or other information the commissioner of economic development deems necessary from participating lenders and businesses on the status of the linked loans and the projects to ensure compliance with the […]
223 – Promotion of Program.
§ 223. Promotion of program. The department, through its regional offices and with the assistance of the department of financial services and other appropriate state agencies and public benefit corporations, shall actively market and promote awareness of the program in all geographical areas of the state among banks, banking organizations, manufacturing firms, manufacturing organizations, and […]
209-A – Workers’ Compensation Supplementation Allowance.
§ 209-a. Workers’ compensation supplementation allowance. 1. Notwithstanding any other law, rule or regulation to the contrary, where, and to the extent that, an agreement between the state or the New York state canal corporation and an employee organization entered into pursuant to article fourteen of the civil service law on behalf of employees in […]
209-B – Severance Benefits for Certain State Officers and Employees.
§ 209-b. Severance benefits for certain state officers and employees. 1. Notwithstanding any other law, rule or regulation to the contrary, where, and to the extent that, an agreement between the state and an employee organization entered into pursuant to article fourteen of the civil service law on behalf of employees in a collective negotiating […]
212 – Short Title.
§ 212. Short title. This article shall be known and may be cited as the “excelsior linked deposit act”.
213 – Definitions.
§ 213. Definitions. When used in this article, unless a different meaning clearly appears from the context, the following terms shall have the following meanings: 1. “Authorized depositor” means the comptroller with respect to linked deposits made by the comptroller and the commissioner of taxation and finance with respect to linked deposits made by the […]