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| Re: What is the construction at Atlantic Yard about? (1478156) | |||
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Re: What is the construction at Atlantic Yard about? |
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Posted by LA Scott on Wed Jun 13 14:03:03 2018, in response to Re: What is the construction at Atlantic Yard about?, posted by Dyre Dan on Wed Jun 13 01:41:03 2018. The practical meaning is that the subsidiaries are 100% owned by the MTA, and have effectively no legal identify outside of the MTA.They are all governed by the same New York laws. The MTA can create new subsidiaries, dissolve existing ones, and transfer assets with minimal legal requirements. The affiliates are legally connected to the MTA, but are not owned by the MTA and have a clear legal identify outside of the MTA. T NYCT and TBTA each have separate sets of laws that govern them outside of the overall MTA laws. The MTA cannot transfer assets to and from the affiliates outside of strictly controlled processes. |
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