New York § 1306 - 1306Financial organizations
Full text of New York New York Consolidated Laws § 1306 — 1306Financial organizations, with citation guidance and answers to common questions.
§ 1306. 1306Financial organizations
§ 1306. Financial organizations. 1. The board shall engage, after an open bid process, a financial organization or organizations to invest assets of the program. In selecting the financial organization or organizations, the board shall take into consideration and give weight to the financial organization's fees and charges in order to reduce the program's administrative expenses. 2. The financial organizations shall comply with applicable federal and state laws, rules, and regulations, as well as rules, policies, and guidelines promulgated by the board with respect to the program, including, but not limited to, the investment policy. 3. The financial organization or organizations shall provide such reports as the board deems necessary for the board to oversee each financial organization's performance and the performance of the program.
Frequently Asked Questions About New York § 1306
What does New York Consolidated Laws § 1306 cover?
Section 1306 ("1306Financial organizations") 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 § 1306?
A common citation format is "New York Consolidated Laws § 1306" (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 § 1306 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.