NY Pub Auth L § 1201 (2021)
2021 New York Laws PBA - Public Authorities Article 5 - Public Utility Authorities Title 9 - New York City Transit Authority 1201 - New York City Transit Authority.

§  1201.  New York city transit authority.--1. A board, to be known as   "New York City Transit Authority" is hereby created. Such board shall be   a body corporate and politic constituting a public benefit  corporation.   It  shall  consist  of  seventeen members, all serving ex officio. Those   members shall be the persons who  from  time  to  time  shall  hold  the   offices   of   chairman   and  members  of  metropolitan  transportation   authority.2. The chairman of such board shall be the  chairman  of  metropolitan   transportation  authority,  serving ex officio, and, provided that there   is an executive director of the metropolitan  transportation  authority,   the  executive director of the authority shall be the executive director   of  the  metropolitan  transportation  authority,  serving  ex  officio.   Notwithstanding any provision of law to the contrary, the chairman shall   be the chief executive officer of the authority and shall be responsible   for  the  discharge  of  the  executive and administrative functions and   powers of the authority. The chairman and executive  director,  if  any,   each  shall  be empowered to delegate his or her functions and powers to   one or more officers or employees designated by him or her.3. The chairman, other members of the board and the executive director   shall not be entitled to compensation for their services  but  shall  be   entitled  to  reimbursement  for  their  actual  and  necessary expenses   incurred in the performance of their official duties.4. Notwithstanding any inconsistent provisions of this  or  any  other   law,  general,  special or local, no officer or employee of the state or   any public corporation, as defined in the general corporation law, shall   be deemed to have forfeited or shall forfeit his office or employment or   any benefits provided under the retirement and social  security  law  or   under any public retirement system maintained by the state or any of its   subdivisions  by  reason  of  his  being a member or the chairman of the   authority.5. A majority of the whole number of members of the authority then  in   office  shall constitute a quorum for the transaction of any business or   the exercise  of  any  power  of  the  authority.  Except  as  otherwise   specified  in  this  title,  for  the transaction of any business or the   exercise of any power of the authority, the  authority  shall  have  the   power to act by a majority vote of the members present at any meeting at   which a quorum is in attendance. In the event of a tie vote the chairman   shall  cast  one  additional  vote.  For  the purposes of the voting and   quorum  requirements  of  this  subdivision,  the  voting   and   quorum   requirements  set  forth  in subdivision three of section twelve hundred   sixty-three of this article  and  in  any  by-law  of  the  metropolitan   transportation  authority  adopted  pursuant  to  the provisions of such   subdivision shall be applicable hereto.6. The authority and its  corporate  existence  shall  continue  until   terminated  by law, provided however, that no such law shall take effect   so long as the authority or any of its  subsidiaries,  the  metropolitan   transportation  authority  or the Triborough bridge and tunnel authority   shall have outstanding any notes or bonds or lease,  sublease  or  other   contractual  obligations  issued  or incurred pursuant to section twelve   hundred seven-m of this title or issued or incurred in  connection  with   the transfer of its interest in and the lease from the transferee of any   property  furnished  to  it  pursuant  to  chapter twelve of the laws of   nineteen hundred  seventy-nine  or  section  fifteen  of  chapter  three   hundred  fourteen of the laws of nineteen hundred eighty-one, or section   twelve hundred sixty-six-c or twelve hundred seventy-d of this  article,   unless  adequate provision has been made for the payment or satisfaction   of such outstanding notes, bonds, lease, sublease or  other  contractual   obligations.