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The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
The New York Community Trust (The Trust) is a community foundation that serves New York City's five boroughs, Long Island, and Westchester County. The Trust administers more than 2,200 charitable funds. Established in 1924, The Trust is one of the nation's 10 largest community foundations with nearly $3.3 billion in assets. [1]
Bank of America Private Bank (formerly U.S. Trust) was founded in 1853 as the United States Trust Company of New York. [1] It operated independently until 2000, when it was acquired by Charles Schwab, and Co. [2] and subsequently sold to, and became a subsidiary of, Bank of America in 2007. [3]
In this Commercial Division Update, Thomas J. Hall and Judith A. Archer write: '1545 Ocean Ave.' and its progeny have clarified the requirements for satisfying the “not reasonably practicable ...
The firm and its subsidiaries maintain offices in New York City, and several other locations. [3] Fiduciary Trust is part of Franklin Templeton Investments. [4] Fiduciary Trust Company International manages separate portfolios of client-focused equity and fixed income assets, investing globally in public equities, fixed income and alternative ...
The National Center for Policy Analysis (NCPA) was a non-profit American think tank [3] whose goals were to develop and promote private alternatives to government regulation and control. Topics it addressed include reforms in health care, taxes, Social Security , welfare, education, and environmental regulation.
This would be ordinarily be administered by the New York City sheriff or via a judgment lien. [359] [360] As of December 2024, Donald Trump's debt of $454 million (i.e., the original judgment of a $354 million disgorgement plus $100 million interest) had increased to $485 million (due to interest accrued over 2024). [361]
Established in 1973, The Depository Trust Company (DTC) was created to alleviate the rising volumes of paperwork and the lack of security that developed after rapid growth in the volume of transactions in the U.S. securities industry in the late 1960s. [17] DTC was formed under the special incorporation laws of New York for trust companies.
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