suffolk county legislator kevin mccaffrey continuing to work hard to destroy rather than improve nassau otb for bettors and workers
| As of 04/17/2020 04:40PM, the Laws database is current through 2020 Chapters 1-25, 50-56, 58, 59 |
§ 503-a. Additional powers of the regional off-track betting
corporations. 1. In addition to the powers enumerated in section five
hundred three of this article, financially insolvent regional off-track
betting corporations, as determined by the racing and wagering board
upon review of certified financial statements, are hereby authorized and
may file any petition with any United States district court or court of
bankruptcy under any provision of laws of the United States for the
composition or adjustment of municipal indebtedness, provided such
corporation is authorized by a resolution adopted by a majority of the
participating counties to such region, or, for a corporation wholly
contained within one county, by a resolution adopted by such county. The
provisions of this subdivision shall not apply to the Suffolk regional
off-track betting corporation until April first, two thousand fourteen.
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