NY Pub Auth L § 3234 (2021)
2021 New York Laws PBA - Public Authorities Article 10-B Title 4 - New York Local Government Assistance Coporation 3234 - Administration of the Corporation.

§  3234.  Administration  of  the  corporation. 1. (a) The corporation shall be administered by seven directors,  one  of  whom  shall  be  the comptroller, one of whom shall be the director of the budget and five of whom  shall  be  appointed  by  the  governor.  The  comptroller and the director of the budget shall be entitled to designate  a  representative or  representatives  to attend meetings of the board in their place, and to vote or otherwise act on their behalf in  their  absence.  Notice  of such  designation  shall  be  furnished  in  writing to the board by the designating director. A representative shall serve at  the  pleasure  of the  designating  director  during  the  director's  term  of  office. A representative shall not be authorized to delegate any  of  his  or  her duties  or  functions to any other person. A director who is not a state official shall serve for a term expiring at the end of the term actually served by the officer making the appointment  and  may  be  removed  for cause by such officer after hearing on ten days notice.  (b) The secretary to the senate finance committee and the secretary to the assembly ways and means committee shall be nonvoting representatives who  shall  receive  notice of and be entitled to attend all meetings of the directors and who shall also receive the same supporting  and  other documentation  related to each vote to be taken by the directors at each meeting as is provided to the directors, at  the  same  time  as  it  is provided to the directors. The comments of the nonvoting representatives shall be entered upon the record of the meeting.   2.  The  governor shall designate a chairperson and a vice-chairperson from among  the  directors.  The  chairperson  shall  preside  over  all meetings  of  the  directors  and  shall  have  such other duties as the directors or the corporation  may  direct.  The  vice-chairperson  shall preside  over  all  meetings  of  the  directors  in  the absence of the chairperson and shall have such other duties as  the  directors  of  the corporation may prescribe.   3.  The  directors  of the corporation shall serve without salary, but each director shall be reimbursed for actual necessary expenses incurred in the performance of such director's official duties as a  director  of the  corporation. The directors of the corporation may engage in private employment or in a profession or business if  not  otherwise  prohibited from so doing by virtue of any other public office.   4.  Notwithstanding  any  inconsistent  provisions  of  law,  general, special or local, no officer or employee of the state of New  York,  any city,  county, town or village, any other political or civil division of the state, any  municipality,  any  governmental  entity  operating  any public school or college, any school district or any other public agency or  instrumentality  or  unit of government which exercises governmental powers under the laws of the state, shall forfeit office  or  employment by  reason  of  acceptance of appointment as a director, representative, officer or agent of the corporation nor shall service as such  director, representative,   officer   or   agent  of  the  corporation  be  deemed incompatible or in conflict with such office or employment.   5. A majority of the whole number of directors then  in  office  shall constitute  a quorum for the transaction of any business or the exercise of any power of the corporation. Except as otherwise specified  in  this title,  for the transaction of any business or the exercise of any power of the corporation, the  corporation  shall  have  power  to  act  by  a majority of the directors present at any meeting at which a quorum is in attendance;  provided  that  one  or more directors may participate in a meeting by means  of  conference  telephone  or  similar  communications equipment  allowing  all  directors participating in the meeting to hear each other at the same  time  and  participation  by  such  means  shall constitute  presence  in  person  at  a meeting. A unanimous vote of all  directors then in office shall be required for approval of a  resolution authorizing  the  issuance  of  bonds  or  notes  or any supplemental or amendatory resolution. The corporation may delegate to one  or  more  of its directors, or officers, agents and employees, such powers and duties as  the  directors  may  deem proper. Five days notice shall be given to each director and nonvoting representative prior to any meeting  of  the corporation.   6. On or before November fifteenth of each year, the corporation shall submit  a  financial  statement  and a report of its activities for such corporation's immediately preceding fiscal year  to  the  governor,  the temporary  president  of  the  senate,  the speaker of the assembly, the comptroller, the chair of the senate finance committee and the chair  of the assembly ways and means committee.