N.Y. Comp. Codes R. & Regs. tit. 17 § 100.1

Current through Register Vol. 46, No. 50, December 11, 2024

Section 100.1 - Negotiated settlements

Interest at the rate of four percent per annum to August 1, 1966 and at the rate of six percent per annum thereafter will be paid by the State on either agreements of adjustment or agreements for partial and advance payment approved on and after July 1, 1962 by the Commissioner of Transportation and, when required by statute, by the Comptroller regardless of when the property was acquired by the State on the following conditions:

(a) Interest shall accrue on all such claims:

(1) upon the date of entry on the property for construction purposes when title has not vested by the filing of the appropriation map in the county clerk's office; or

(2) upon the date of vesting of title to property when entry for construction purposes has not been effected.

(b) Suspensions. Such interest will be paid on agreements of adjustment and agreements for partial and advance payment from such dates, whichever is earlier, to the date of payment of the claim except as follows:

(1) provided an acceptable agreement had not been delivered to the State, interest shall be suspended as follows:

(i) for claims accruing by vesting of title prior to July 2, 1971, six months after title vesting unless a claim had been filed pursuant to the Court of Claims Act.

(ii) for claims accruing by the vesting of title on or after July 2, 1971, six months after the personal service of the notice of appropriation, map and description upon claimant, unless a claim had been filed pursuant to the Court of Claims Act.

(2) provided the amount of a claim had not been agreed upon, and claimant failed or refused to sign an agreement for partial or advance payment of the value of the claim as determined by the commissioner, interest shall be suspended on the amount of the claim so offered either:

(i) from the date of claimant's refusal, or

(ii) the date 90 days after notification by the commissioner of such offer by registered mail, or

(iii) the date six months after title vesting or personal service, whichever is applicable under paragraph (b)(1) above, unless a claim had been filed pursuant to the Court of Claims Act, whichever of dates (i), (ii) or (iii) is earlier to the date claimant subsequently accepts such offer of partial or advance payment and delivers an acceptable agreement to the State

(3) interest shall be suspended from the expiration of 30 days after either:

(i) the date of the approval of the agreement by the commissioner and, when required by statute, the Comptroller, or

(ii) the date of delivery of closing papers to claimant, whichever date is later and shall remain suspended until the Attorney-General is presented with all proper proofs, instruments and vouchers in satisfactory form which he requires in order to authorize payment of the claim.

(c) Extensions. In those cases where the Commissioner of Transportation is restrained by judicial order or proceedings, or delayed by other causes, from proceeding with the adjustment of claims, the said period of six months referred to in the subdivisions above may be extended by the commissioner for the duration of such restraint or delay and for such additional period up to and not to exceed six months after the restraint or delay is terminated.

N.Y. Comp. Codes R. & Regs. Tit. 17 § 100.1