New York § 756-D - 756-DExceptions for failure of lender to disburse funds
Full text of New York New York Consolidated Laws § 756-D — 756-DExceptions for failure of lender to disburse funds, with citation guidance and answers to common questions.
§ 756-D. 756-DExceptions for failure of lender to disburse funds
§ 756-d. Exceptions for failure of lender to disburse funds. The date of payment required by the owner, the contractor and/or subcontractor pursuant to section seven hundred fifty-six-a of this article, shall be extended to the seventh day after the owner, contractor or subcontractor, as the case may be, receives loan proceeds necessary to make such payment in the event that: 1. the owner, contractor or subcontractor, as the case may be, has obtained a loan intended to pay for all or part of the construction contract; 2. the owner, contractor or subcontractor, as the case may be, has timely requested disbursement of proceeds from that loan; and 3. the lender is legally obligated to disburse such proceeds to the owner, contractor or subcontractor, as the case may be, but has failed to do so in a timely manner.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 756-D
What does New York Consolidated Laws § 756-D cover?
Section 756-D ("756-DExceptions for failure of lender to disburse funds") 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 § 756-D?
A common citation format is "New York Consolidated Laws § 756-D" (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 § 756-D 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.