Section 569-C. Transfer and receipt of surplus funds  


Latest version.
  • Notwithstanding any
      provision of this title or any other provision of law, general,  special
      or  local,  the  authority  shall,  at the direction of the metropolitan
      transportation authority, from time to time transfer and pay over all or
      any part  of  its  surplus  funds  to  (a)  metropolitan  transportation
      authority or (b) New York city transit authority, all in accordance with
      the provisions of subdivision twelve of section five hundred fifty-three
      of  this  title  and the determination of the proportional allocation of
      such amounts of surplus funds so deposited as between the New York  city
      transit  authority  and  the commuter railroads operated by metropolitan
      transportation authority shall be governed by the provisions of  section
      twelve  hundred  nineteen-a of this chapter and the authority may accept
      and use any moneys transferred and  paid  over  to  it  by  metropolitan
      transportation authority or New York city transit authority.