New York § 490-E - 490-EPowers and duties of trustee or trustees
Full text of New York New York Consolidated Laws § 490-E — 490-EPowers and duties of trustee or trustees, with citation guidance and answers to common questions.
§ 490-E. 490-EPowers and duties of trustee or trustees
§ 490-e. Powers and duties of trustee or trustees. It shall be the duty of the corporate trustee or the board of trustees, as the case may be, to collect the initial contribution to the fund, to call for, and to collect by legal proceedings if necessary, such subsequent contributions as become payable under the terms of the agreement, and to administer the fund so created in accordance with the terms of the agreement. Such part of the fund as is not required to be kept on hand or in bank for the purpose of meeting and satisfying demands made by the superintendent pursuant to the next succeeding section, may be invested in obligations of the United States and of the state of New York, and of any county or municipality of the state of New York.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 490-E
What does New York Consolidated Laws § 490-E cover?
Section 490-E ("490-EPowers and duties of trustee or trustees") 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 § 490-E?
A common citation format is "New York Consolidated Laws § 490-E" (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 § 490-E 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.