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NYC Administrative Code

§ 11-2709 — Reserves.

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What is NYC AC § 11-2709?

Quick Answer

This section outlines the requirement for the comptroller to establish appropriate reserves when a person liable for the vault charge applies for a refund and initiates an article seventy-eight proceeding to review an adverse determination. Applies to individuals contesting vault charge refunds.

General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.

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§ 11-2709 Reserves.

AC § 11-2709

In cases where the person or persons liable for the vault charge imposed by this chapter has applied for a refund and has instituted a proceeding under article seventy-eight of the civil practice law and rules to review a determination adverse to him or her on his or her application for refund, the comptroller shall set up appropriate reserves to meet any decision adverse to the city.

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