New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle A - Governor's Office › Chapter I - Executive Orders › Part 4 - Executive Orders (Mario M. Cuomo) › Section 4.49 - Executive Order No. 49: Establishing a Temporary Task Force on the New York Business Development Corporation. [*] [DAGGER]

Current through Register Vol. 46, No. 28, July 10, 2024
WHEREAS, the New York Business Development Corporation was
					 created in 1955 to serve as a vehicle to place private investment capital with
					 business enterprises located in the State when the capital needs of those
					 business enterprises are beyond the limitations of conventional bank financing;
					 and
WHEREAS, the financial needs of New York's businesses have
					 changed dramatically since the creation of the New York Business Development
					 Corporation; and
WHEREAS, it is anticipated that the New York Business
					 Development Corporation will continue to serve as a vehicle to enhance the
					 economic development of the State;
NOW, THEREFORE, I, Mario M. Cuomo, Governor of the State of
					 New York, by virtue of the authority vested in me by the Constitution and laws
					 of the State of New York, do hereby create a Temporary Task Force on the New
					 York Business Development Corporation. The Task Force shall consist of 18
					 members to be appointed by the Governor as follows:
the Chairman of the New York Business Development
					 Corporation, who shall serve as Chairman of the Task Force;
five other members nominated by the Chairman, who shall be
					 representative of stockholders of the Business Development Corporation, and New
					 York commercial banks, thrift institutions, insurance companies, and the
					 economic development community;
one person nominated by the Speaker of the Assembly;
one person nominated by the Temporary President of the
					 Senate;
one person nominated by the Minority Leader of the
					 Assembly;
one person nominated by the Minority Leader of the
					 Senate;
the Commissioner of Commerce;
the Superintendent of Banks;
the Superintendent of Insurance; and
five other persons selected by the Governor, who shall
					 include representatives of small businesses, businesses owned by women, and
					 businesses owned by members of minority groups.
The members of the Task Force shall receive no compensation
					 but shall be entitled to reimbursement for any necessary expenses incurred in
					 connection with the performance of their duties.
The Task Force shall review and evaluate the mission and
					 resources of the New York Business Development Corporation and shall issue an
					 interim report by December 15, 1984 and a final report no later than February
					 1, 1985, both of which are to be delivered to the Governor, the Legislature,
					 and the Board of Directors of the New York Business Development Corporation.
					 Such reports shall address, but shall not be limited to, the following:
(i) a review of the New York Business
				  Development Corporation's utilization of capital, resources and authority,
				  lending practices, including those affecting businesses owned by women and
				  members of minority groups, methods to enhance the size and composition of its
				  capital structure and methods to support growth in its loan portfolio;
				  particular consideration shall be given to identification of possible sources
				  of long-term financing and fixed-rate financing;
(ii) the human and financial resources
				  available to the New York Business Development Corporation to foster and
				  encourage its growth, particularly in the fields of export financing, and
				  assistance to businesses owned by women and members of minority
				  groups;
(iii) methods and means by
				  which the New York Business Development Corporation could increase the number
				  of stockholders and the equity capital provided therefrom, and the number of
				  New York Business Development Corporation members and the debt capital provided
				  therefrom; and
(iv) methods and
				  means to promote awareness in the business community and the public sector of
				  the mission, resources and activities of the New York Business Development
				  Corporation.
The Task Force may request and shall receive from any
					 department, division, board, bureau, commission or agency of the State such
					 assistance and data as will enable it properly to carry out its powers and
					 responsibilities hereunder.
The Task Force shall cease to exist on July 1, 1985.
Signed: Mario M. Cuomo
Dated: October 10, 1984
Footnotes
* [Revoked by Executive Order
					 No. 31 (George E. Pataki),
infra.
]
[DAGGER] [Revoked by Executive
					 Order No. 5 (Eliot Spitzer),
infra.
] [Revoked by Executive
					 Order No. 9 (David A. Paterson),
infra.
] [Revoked by Executive
					 Order No. 2 (Andrew M. Cuomo),
infra.
]