New York Laws
Title 4 - Roswell Park Cancer Institute Corporation Act
3563 - Moneys of the Corporation.

§ 3563. Moneys of the corporation. All moneys of the corporation from
whatever source derived shall be paid to the treasurer of the
corporation and shall be deposited forthwith in a bank or banks
designated by the corporation. The moneys in such accounts shall be
paid out on check of the treasurer upon requisition by such person or
persons as the corporation may authorize to make such requisitions. All
deposits of such moneys shall be secured by obligations of the United
States or of the state or of any municipality of a market value equal at
all times to the amount on deposit and all banks and trust companies are
authorized to give such security for such deposits. To the extent
practicable, consistent with the cash requirements of the corporation,
all such moneys shall be deposited in interest bearing accounts. The
corporation shall have power, notwithstanding the provisions of this
section, to contract with the holders of any bonds as to the custody,
collection, security, investment and payment of any moneys of the
corporation or any moneys held in trust or otherwise for the payment of
bonds or in any way to secure bonds, and carry out any such contract
notwithstanding that such contract may be inconsistent with the
provisions of this section. Moneys held in trust or otherwise for the
payment of bonds or in any way to secure bonds and deposits of such
moneys may be secured in the same manner as moneys of the corporation
and all banks and trust companies are authorized to give such security
for such deposits. Any moneys of the corporation not required for
immediate use or disbursement may, at the discretion of the corporation,
be invested in those obligations specified pursuant to the provisions of
section ninety-eight-a of the state finance law. Subject to the
provisions of any contract with bondholders and the approval of the
comptroller, the corporation shall prescribe a system of accounts.