85.60 - Modification of plan. - New York Statutes

§ 85.60 Modification of plan. At any time prior to the entry of an order approving or disapproving a repayment plan pursuant to section 85.40 of this title, the municipality, with the approval of its financial emergency control board, or any such board with or without the approval of the municipality, may file modifications thereof, subject to the power of the court to enter an order prohibiting the filing of a further modification if it finds, after a hearing, that such modification or any prior modification or the repayment plan was not filed in good faith. At any time subsequent to the entry of an order approving a repayment plan, any such modifications may only be filed by leave of the court, after a hearing. Upon the filing at any time of any modification of a repayment plan, the court shall hold a hearing pursuant to section 85.40 of this title and shall enter an order continuing or extending such stay as may then be in effect pursuant to section 85.30 or 85.40 of this title for such additional period of time as may be required to permit the court to enter an order pursuant to section 85.40 of this title with respect to the modified plan.