§ 11-666 Exemption of corporations owned by a municipality.
AC § 11-666
The provisions of this subchapter shall not apply to any corporation all of the capital stock of which is owned by a municipal corporation of this state.
NYC Administrative Code
§ 11-666 — Exemption of corporations owned by a municipality.
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What is NYC AC § 11-666?
Quick Answer
This section exempts corporations whose entire capital stock is owned by a municipal corporation from the provisions of the subchapter. This exemption applies to entities that are wholly owned by municipalities in New York State.
General informational summary. Not legal advice for your situation. Consult an attorney before acting on any specific matter.
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