2006 New York Code - Temporary Advances

 
    §  298.  Temporary  advances.    At  any time after this article shall
  become law and prior to the date upon which assets and other  funds  are
  transferred  from  the  employees'  retirement  system to the retirement
  system established by this article, the comptroller is  empowered,  upon
  his  warrant,  to  direct  the  head of the division of the treasury, to
  transfer from funds kept on deposit to the credit of the New York  state
  employees'  retirement  system  an  amount,  not  exceeding five million
  dollars, to the credit of the  retirement  system  established  by  this
  article.  Such monies shall be deposited as provided in subdivision e of
  section three hundred thirteen of this article, and shall  be  used  for
  the  purpose  of meeting disbursements for pensions, annuities and other
  payments ordered by the comptroller, and for expenses of maintenance and
  operation, including personal service. The amount so advanced  shall  be
  deducted  from  the  total  amount  to  be transferred by the employees'
  retirement system to the retirement system established by this  article,
  upon  the final settlement of all accounts by such system as provided in
  this article.