NY Pub Auth L § 3020 (2021)
2021 New York Laws PBA - Public Authorities Article 10 - New York State Municipal Assistance Corporation Act Title 2 - General Provisions Relating to Municipal Assistance Corporations 3020 - Actions Against a Municipal Assistance Corporation; Indemnification.

§   3020.   Actions   against   a  municipal  assistance  corporation;   indemnification.  1. Except in an action for wrongful death,  an  action   against  a  municipal  assistance  corporation  for  personal  injury or   property damage or founded on tort shall not be commenced more than  one   year  and  ninety  days after the cause of action shall have accrued nor   unless a notice of claim shall have been served on a  director  of  such   corporation,  or  an  officer  or  employee  thereof  designated  by the   corporation for such  purpose,  within  the  time  limited  by,  and  in   compliance  with  the  requirements  of  section  fifty-e of the general   municipal law. An action against a municipal assistance corporation  for   wrongful death shall be commenced in accordance with the notice of claim   and  time  limitation provisions of title eleven of article nine of this   chapter.2. The venue of every  action,  suit  or  special  proceeding  brought   against a corporation shall be laid in the county in which the principal   office of such corporation is located.3.  a. The state shall save harmless and indemnify directors, officers   and employees of and representatives to a corporation, all of whom shall   be deemed officers and employees of the state for  purposes  of  section   seventeen  of  the public officers law, against any claim, demand, suit,   or judgment arising by reason of any act or  omission  to  act  by  such   director, officer, employee or representative occurring in the discharge   of  his  duties  and  within  the scope of his service on behalf of such   corporation, including any claim, demand,  suit  or  judgment  based  on   allegations   that  financial  loss  was  sustained  by  any  person  in   connection with the acquisition, disposition or holding of securities or   other obligations of  a  corporation  (or  those  of  any  other  public   corporation  if  such  loss  allegedly  resulted from its dealing with a   municipal assistance corporation). In  the  event  of  any  such  claim,   demand,  suit  or  judgment,  a  director,  officer  or  employee  of or   representative to a municipal  assistance  corporation  shall  be  saved   harmless  and  indemnified,  notwithstanding  the limitations of section   seventeen of the public officers law, unless such individual is found by   a final judicial determination not to have acted, in good faith,  for  a   purpose  which he reasonably believed to be in the best interest of such   corporation or not to have had reasonable  cause  to  believe  that  his   conduct was lawful.b.  In  connection with any such claim, demand, suit, or judgment, any   director, officer or employee of or representative  to  the  corporation   shall  be entitled to representation by private counsel of his choice in   any civil judicial proceeding whenever the attorney  general  determines   based  upon  his investigation and review of the facts and circumstances   of the case  that  representation  by  the  attorney  general  would  be   inappropriate.  The  attorney  general  shall  notify  the individual in   writing of such determination that the  individual  is  entitled  to  be   represented  by  private counsel. The attorney general may require, as a   condition to payment of the fees and expenses  of  such  representation,   that  appropriate  groups of such individuals be represented by the same   counsel. If the individual  or  group  of  individuals  is  entitled  to   representation  by private counsel under the provisions of this section,   the attorney general shall so certify  to  the  comptroller.  Reasonable   attorney's  fees  and  litigation expenses shall be paid by the state to   such private counsel from time to time during the pendency of the  civil   action  or  proceeding  subject  to certification that the individual is   entitled to representation  under  the  terms  and  conditions  of  this   section  by  the  chairman  of the board of directors of the corporation   upon the audit and warrant of the comptroller. The  provisions  of  this   subdivision  shall  be  in  addition  to  and  shall  not  supplant  any    indemnification or other benefits heretofore or hereafter conferred upon   directors,  officers  or  employees  of  and  representatives   to   the   corporation  by  section seventeen of the public officers law, by action   of  the  corporation,  or  otherwise. The provisions of this subdivision   shall  inure  only  to  directors,  officers  and   employees   of   and   representatives  to  the  corporation, shall not enlarge or diminish the   rights of any other party, and shall not impair,  limit  or  modify  the   rights and obligations of any insurer under any policy of insurance.