New York Education Law Part 1 - CORPORATE STRUCTURE

• 651 - Definitions.
  As used in this article, the following terms shall have the following meanings unless otherwise specified: 1. "Corporation" shall mean the New York state higher...
• 652 - New York State Higher Education Services Corporation; Purposes; Board of Trustees.
  1. There is hereby created in the State Education Department and within the University of the State of New York as established under the Board...
• 652-a - Employees of the New York State Higher Education Services Corporation; Background Checks.
  1. Current and prospective employees of the corporation shall be subject to background and security clearance investigations required in the ordinary course of the corporation's...
• 653 - Powers and Duties of the Board.
  In furtherance of the purposes set forth in this article, the board of trustees shall have the following powers and duties: 1. To take, hold...
• 654 - President of the Corporation.
  1. The governor shall appoint, with the advice and consent of the senate, the president of the corporation. The president shall be the chief executive...
• 655 - Powers and Duties of the President.
  In administering the provisions of this article, the president shall have the following powers and duties: 1. To administer the student financial aid programs specified...
• 656 - Contributions to Corporation; Tax Deduction Thereof.
  Notwithstanding the provisions of any general or special law all domestic corporations or associations organized for the purpose of carrying on business in this state,...
• 657 - Tax Exemption of Corporation.
  1. The property, income, obligations and activities of the corporation shall be exempt from all taxes and assessments. 2. The state of New York does...
• 658 - Supervision by the Superintendent of Financial Services.
  The corporation in its administration of student loan programs shall be subject to the supervision and examination of the superintendent of financial services, but shall...
• 659 - Audits.
  Notwithstanding any other provision of this chapter, the state comptroller shall, from time to time but not less than once in every three years, examine...
• 660 - Expenditure of Funds.
  All moneys appropriated for the Corporation, or derived from other sources in the course of the administration thereof, shall be expended upon vouchers approved by...

Last modified: February 3, 2019