209-D - Transfer of powers of science and technology foundations. - New York Statutes

§ 209-d. Transfer of powers of science and technology foundations. Except as otherwise provided in section two hundred nine-f of this article, the functions and powers possessed by and all of the obligations and duties of the science and technology foundation as established pursuant to article ten-A of the public authorities law shall be transferred and assigned to, assumed by and devolved upon the office. Such transfer shall occur no later than January thirty-first, two thousand, provided, however, that such transfer may occur prior to January thirty-first, two thousand pursuant to a memorandum of understanding executed by the chairman of the science and technology foundation and the executive director of the office, and provided that, in the event that it is impractical to effectuate such transfer on or before January thirty-first, two thousand, the chairperson of the science and technology foundation and the executive director of the office may upon notification to the governor, temporary president of the senate, and speaker of the assembly on or before January fifteenth, two thousand, execute a memorandum of understanding to govern the expeditious transfer required pursuant to this section.