ยง 20.25. Remedies of bondholders and noteholders. 1. The supreme court
shall have jurisdiction of any suit, action or proceeding by or on
behalf of the holders of any bonds or notes issued by a trust. The venue
of any such suit, action, or proceeding shall be laid in the county in
which the principal office of the trust is located.
2. Before the principal of notes or bonds of a trust is declared due
and payable by or on behalf of bondholders and noteholders thereof,
thirty days notice shall first be given in writing to the governor, to
the attorney general of the state, to the mayor of the municipality or
chief executive officer of the county in which the principal office of
the trust is located and to the trust.
Structure New York Laws
ACA - Arts and Cultural Affairs
Title E - New York State Cultural Resources Act
Article 20 - New York State Cultural Resources Act
20.05 - Legislative Findings and Determinations, and Statement of Purposes.
20.07 - Creation and Purposes of a Trust.
20.09 - Administration of a Trust.
20.11 - General Powers of a Trust.
20.13 - Special Powers of a Trust.
20.17 - Bonds and Notes of a Trust.
20.19 - Security for Bonds or Notes.
20.23 - State's Right to Require a Redemption of Bonds.
20.25 - Remedies of Bondholders and Noteholders.
20.27 - State and Municipalities Not Liable on Bonds and Notes.
20.29 - Agreement of the State.
20.31 - Bonds and Notes as Legal Investments.
20.33 - Exemption From Taxation.
20.35 - Actions by and Against a Trust.
20.37 - Cooperation With the State, Counties and Municipalities.
20.39 - Annual and Other Reports.