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HUNT v. NEW YORK STATE HOUS. FIN. AGENCY

Index No. 159158/12. Appeal No. 13764. Case No. 2019-05147.

194 A.D.3d 446 (2021)

143 N.Y.S.3d 522

2021 NY Slip Op 02873

Stephen J. Hunt, Appellant, v. New York State Housing Finance Agency et al., Respondents.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 6, 2021.

Attorney(s) appearing for the Case

Law Offices of David J. Squirrell, P.C., Bedford Hills ( David J. Squirrell of counsel), for appellant.

Schoeman Updike Kaufman & Gerber LLP, New York ( Steven Gerber of counsel), for respondents.

Concur—Renwick, J.P., Kapnick, Singh, Kennedy, JJ.

The motion court correctly concluded that the 2002 senior officers' incentive plan, which was not subject to approval by defendants' boards of directors and was adopted by the signatures of plaintiff, then CEO and president of defendants, and the respective board chairs, was nullified by the passage of the Public Authorities Accountability Act of 2005 (PAAA) (L 2005, ch 766). The legislative history shows that the legislature had...

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