NY Gen Mun L § 856 (2021)
2021 New York Laws GMU - General Municipal Article 18-A - Industrial Development Title 1 - Agencies, Organization and Powers 856 - Organization of Industrial Development Agencies.

§  856.  Organization  of industrial development agencies. 1. (a) Upon the establishment of an industrial development agency by special act  of the  legislature,  the  governing  body  of  the  municipality for whose benefit such agency is established shall file within  six  months  after the  effective  date  of the special act of the legislature establishing such  agency  or  before  the  first  day  of  July,  nineteen   hundred sixty-nine,  whichever  date  shall  be  later,  in  the  office  of the secretary of state, a certificate setting forth: (1) the date of passage of the special act establishing the agency; (2) the name of the  agency; (3) the names of the members and their terms of office, specifying which member  is  the  chairman;  and  (4) facts establishing the need for the establishment of an agency in such municipality.  (b) Every such agency shall be perpetual in duration, except  that  if (1) such certificate is not filed with the secretary of state within six months  after  the  effective date of the special act of the legislature establishing such agency or before  the  first  day  of  July,  nineteen hundred  sixty-nine,  whichever  date  shall  be later, or if (2) at the expiration of ten years subsequent to the effective date of the  special act,   there   shall  be  outstanding  no  bonds  or  other  obligations theretofore issued by such agency or  by  the  municipality  for  or  in behalf  of the agency, then the corporate existence of such agency shall thereupon terminate and it shall thereupon be deemed to be and shall  be dissolved.  (c)  On  or  before  March  first of each year, the secretary of state shall prepare a list of agencies which failed to file a  certificate  in accordance  with  provisions of paragraph (a) of this subdivision within the preceding calendar year and transmit a copy  of  such  list  to  the state  comptroller  and  the  commissioner of the department of economic development. On or before March first of each year the  commissioner  of the  department of economic development shall prepare a list of agencies which have dissolved pursuant to paragraph (b) of  this  subdivision  or have  ceased  to  exist  pursuant to section eight hundred eighty-two of this chapter and shall transmit  a  copy  of  such  list  to  the  state comptroller.   2.  An agency shall be a corporate governmental agency, constituting a public benefit corporation. Except as otherwise provided by special  act of  the  legislature, an agency shall consist of not less than three nor more than seven members who shall be appointed by the governing body  of each  municipality and who shall serve at the pleasure of the appointing authority. Such members may include representatives of local government, school boards, organized labor and business. A member shall continue  to hold  office  until  his  successor  is appointed and has qualified. The governing body of each municipality shall designate the  first  chairman and  file  with  the  secretary of state a certificate of appointment or reappointment of any member. Such members shall receive no  compensation for  their  services  but  shall  be entitled to the necessary expenses, including traveling expenses, incurred in the discharge of their duties.   3. A majority of the members of an agency shall constitute a quorum.   4. Any one or more of the members of an agency may be an  official  or an  employee  of  the  municipality. In the event that an official or an employee of the municipality shall be  appointed  as  a  member  of  the agency,  acceptance or retention of such appointment shall not be deemed a forfeiture of his municipal  office  or  employment,  or  incompatible therewith  or  affect his tenure or compensation in any way. The term of office of a member of an agency who is an official or an employee of the municipality when appointed as a member thereof by special  act  of  the legislature  creating  the industrial development agency shall terminate at the expiration of the term of his municipal office.