21 CRR-NY 2252.5NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 21. MISCELLANEOUS
CHAPTER XXXVII. STATE OF NEW YORK MORTGAGE AGENCY
PART 2252. PROMPT PAYMENT POLICY
21 CRR-NY 2252.5
21 CRR-NY 2252.5
2252.5 Miscellaneous provisions.
(a) Statement amendment.
The agency shall have the power to amend this policy statement by promulgating amended rules and regulations at any time.
(b) Contract incorporation.
The policy statement in effect at the time of the creation of a contract is hereby incorporated into and made a part of that contract.
(c) Public access.
The agency shall make copies of this policy statement, as well as the annual report, available to the public upon reasonable request at the agency's main office. In addition, the agency shall provide a copy of this policy statement to each contractor.
(d) Inapplicability of statute.
The statute authorizing this statement is not applicable to the agency's contracts with other governmental agencies, to interest on judgments rendered by a court against the agency pursuant to any other statute, or in situations where the agency exercises a legally authorized setoff against all or part of a payment due a contractor.
(e) Legal processes.
The agency is under no liability to pay interest pursuant to the statute after a contractor has filed a claim or given notice of an intention to file a claim or commenced legal action for payment of interest.
21 CRR-NY 2252.5
Current through May 31, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.