2013 New York Consolidated Laws
PML - Racing, Pari-Mutuel Wagering and Breeding Law
Article 5 - (501 - 517) REGIONAL OFF-TRACK BETTING CORPORATIONS
503-A - Additional powers of the regional off-track betting corporations.

 
    §   503-a.   Additional  powers  of  the  regional  off-track  betting
  corporations. 1. In addition to the powers enumerated  in  section  five
  hundred  three of this article, financially insolvent regional off-track
  betting corporations, as determined by the  racing  and  wagering  board
  upon review of certified financial statements, are hereby authorized and
  may  file any petition with any United States district court or court of
  bankruptcy under any provision of laws of  the  United  States  for  the
  composition  or  adjustment  of  municipal  indebtedness,  provided such
  corporation is authorized by a resolution adopted by a majority  of  the
  participating  counties  to  such  region,  or, for a corporation wholly
  contained within one county, by a resolution adopted by such county. The
  provisions of this subdivision shall not apply to the  Suffolk  regional
  off-track betting corporation until April first, two thousand fourteen.
    * 2.  Notwithstanding  subdivision  one  of  this section, the Suffolk
  regional off-track betting corporation is hereby authorized and may file
  any  petition  with  any  United  States  district  court  or  court  of
  bankruptcy  under  any  provision  of  laws of the United States for the
  composition or adjustment of municipal indebtedness.
    * NB Repealed April 1, 2014