2012 New York Consolidated Laws
PBA - Public Authorities
Article 2 - PARK, PARKWAY AND HIGHWAY AUTHORITIES
Title 4 - (200 - 214) BETHPAGE PARK AUTHORITY
210 - Rights and remedies of creditors.

 
    *  §  210.  Rights and remedies of creditors. 1. All real and personal
  property, including fees and revenues of the authority and  debts  owing
  to  it  are  exempt  from levy and sale by virtue of an execution and no
  execution or other judicial process shall issue  against  the  same.  No
  judgment  against  the authority shall be a charge upon real property or
  chattels real of the authority. This clause shall not limit  the  rights
  of  mortgagees and pledgees to enforce their lien or other rights by any
  appropriate suit, action or proceeding.
    2. Any purchaser at a sale of property of the authority pursuant to  a
  judgment in an action to foreclose a mortgage thereon shall obtain title
  free  from  any  trust  or  other obligation to operate or maintain such
  property as a public park or public recreation center and free from  any
  obligation to the public or the state as to its use or disposition.
    3. Any creditor of the authority, including a trustee for bondholders,
  shall  have  the  right,  subject to any contractual limitations binding
  upon such creditor or trustee, and subject  to  the  prior  or  superior
  rights of others,
    (a)  by  suit,  action  or  special  proceeding, to enforce his rights
  against the authority and the board, including the right to require  the
  authority  and  the board to collect fees and revenues adequate to carry
  out any agreement as to, or pledge of, such fees  and  revenues  and  to
  require the authority and the board to carry out any other covenants and
  agreements and to perform its and their duties under this title;
    (b) by action or suit in equity to require the authority to account as
  if it were the trustee of an express trust;
    (c) by action or suit in equity to enjoin any acts or things which may
  be unlawful or in violation of the rights of such creditor;
    (d) in the discretion of the court to the appointment of a receiver of
  the  property  of  the  authority  or any part or parts thereof, who may
  enter and take possession of the property of the authority or  any  part
  or  parts  thereof,  and  operate  and maintain the same and collect and
  receive  all  fees,  rentals  and  other  revenues  thereafter   arising
  therefrom in the same manner as the authority itself might do, and shall
  deposit  all  such  moneys  in  a separate account and apply the same in
  accordance with the obligations of the  authority  as  the  court  shall
  direct.  The  authority may give the holders of its bonds or any trustee
  for their benefit by  agreement  the  right  to  the  appointment  of  a
  receiver.
    * NB (Abolished in 1975)