New York § 654 - 654Purpose of the fund
Full text of New York New York Consolidated Laws § 654 — 654Purpose of the fund, with citation guidance and answers to common questions.
§ 654. 654Purpose of the fund
§ 654. Purpose of the fund. There is hereby created a fund to be known as the "state transmitter of money insurance fund". The purpose of the fund shall be to insure the New York instruments of uninsured transmitters of money which, by reason of insolvency, bankruptcy or other inability to pay, have defaulted in making payment on their New York instruments, whether such default has occurred prior to or after the effective date of this act.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 654
What does New York Consolidated Laws § 654 cover?
Section 654 ("654Purpose of the fund") 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 § 654?
A common citation format is "New York Consolidated Laws § 654" (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 § 654 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.