New York Court of Appeals
Methodist Hospital of Brooklyn, Appellants-Respondents v. State Insurance Fund, and Edward V. Regan, as Comptroller…
February 21, 198564 N.Y.2d 365
Summary
The New York Court of Appeals affirmed the Appellate Division, holding that the statutory transfer of $190 million from the State Insurance Fund to the State's general fund does not violate the Federal or New York State Constitution. The court reasoned that the Fund is a State agency, its policyholders have no property interest in its surplus, and the transfer does not constitute a taking, contract impairment, or improper legislative intrusion.