New York § 345 - 345Execution of contracts
Full text of New York New York Consolidated Laws § 345 — 345Execution of contracts, with citation guidance and answers to common questions.
§ 345. 345Execution of contracts
§ 345. Execution of contracts. (a) The secretary of state, or his designee, on behalf of the state, and the endorsing municipality may execute a games support contract that is required by a site selection organization in connection with the committee's bid to host an olympic games. (b) The local organizing committee shall provide any information reasonably requested by the state, with copies to the leaders of both houses of the legislature, and/or the endorsing municipality to assist in reviewing the games support contract. (c) The secretary of state, or his designee, on behalf of the state, and the endorsing municipality, may agree in a games support contract, that the state and endorsing municipality will fulfill their obligations under a games support contract to indemnify and insure against any net financial deficit resulting from the conduct of the games. (d) With respect to the olympic games, (1) any liability, any potential liability and financial commitments or liability of the state and endorsing municipality will not exceed two hundred fifty million dollars in the aggregate; (2) any financial commitments of the state will be satisfied exclusively by recourse of the olympic games guaranty fund in accordance with section eighty-four-a of the state finance law; (3) notwithstanding any other provision of this act, no agreement entered into pursuant to this act may obligate the state to pay any part of the cost of acquiring any interest in real or personal property, or the cost of planning, designing, or constructing any improvement to real or personal property, or otherwise financially obligate the state, other than the guaranty specifically provided for in this act.
Frequently Asked Questions About New York § 345
What does New York Consolidated Laws § 345 cover?
Section 345 ("345Execution of contracts") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 345?
A common citation format is "New York Consolidated Laws § 345" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 345 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.