New York Court of Appeals
Flushing National Bank
November 19, 197640 N.Y.2d 731
Summary
The New York Court of Appeals held that the New York City Emergency Moratorium Act of 1975 is unconstitutional because it violates the New York State Constitution's faith‑and‑credit clause (Art. VIII, §2) and is not justified by the emergency‑power clause (Art. III, §25). The Court reversed the Appellate Division’s judgment upholding the statute. Judge Cooke dissented, arguing the Act is constitutional.