PROCUREMENT LOBBYING LAW
FREQUENTLY ASKED QUESTIONS (FAQs)
Replaces previously released version in its entirety
4.31. Are underwriting services associated with negotiated bond transactions considered to be Articles of Procurement subject to the requirements of Sections 139-j and 139-k of the State Finance Law? (Last Updated: 6/13/2008)
Yes. State Finance Law §§139-j(1)(b) and 139-k(1)(b) specifically include “services” within their definitions of the term “Article of Procurement” when it is the subject of a Governmental Procurement. Providing underwriting services in conjunction with a negotiated bond sale is a service within the meaning of State Finance Law §§139-j and 139-k. Therefore, when a Governmental Entity undertakes a Governmental Procurement to procure underwriting services the transaction is subject to the requirements of State Finance Law §§139-j and 139-k.