N.Y. Private Housing Finance Law Section 13-A
The applicability of not-for-profit corporation law

1.

The not-for-profit corporation law applies to every company heretofore or hereafter formed under this article and the not-for-profit corporation law, provided that:

(a)

If any provision of the not-for-profit corporation law conflicts with any provision of this article, the provision of this article shall prevail and the conflicting provision of the not-for-profit corporation law shall not apply in any such case. If any provision of this article relates to a matter embraced in the not-for-profit corporation law but is not in conflict therewith, both provisions shall apply.

(b)

The following provisions of the not-for-profit corporation law shall not apply to companies formed pursuant to this article and the not-for-profit corporation law: Paragraphs (7) and (8) of subdivision (a) of section one hundred twelve, section one hundred thirteen, section one hundred fourteen, section two hundred one, section three hundred four, section three hundred seven, section four hundred four, subdivision (3) of paragraph (a) of section five hundred ten, section six hundred nine, section six hundred seventeen, paragraphs (a) and (b) of section eight hundred four, article nine, section ten hundred eleven, section ten hundred twelve, article thirteen, article fourteen.

2.

Every corporation to which the not-for-profit corporation law is made applicable by this section is a charitable corporation as defined in paragraph (a) of section one hundred two (Definitions) of the not-for-profit corporation law for all purposes of that law.

Source: Section 13-A — The applicability of not-for-profit corporation law, https://www.­nysenate.­gov/legislation/laws/PVH/13-A (updated Sep. 22, 2014; accessed Dec. 21, 2024).

10
Short title 11
Policy and purposes of article 11‑A
Additional policy and purposes of article 12
Definitions 13
Limited-profit housing companies 13‑A
The applicability of not-for-profit corporation law 13‑B
Verification of papers filed with supervising agency 13‑C
Voting, election and referendum procedures 14
Consent of commissioner to incorporation 15
Participation by certain corporations and individuals 16
Limited-profit housing companies 17
Powers 18
Designation of and service of process on secretary of state and registered agent 19
Consideration for issuance of stock, bonds or income debentures 20
Mortgages, mortgage bonds and notes 21
Capital structure 22
State loans 22‑A
Redevelopment loans 22‑B
Loans for state-aided limited-profit housing companies 23
Municipal loans and municipally aided projects 23‑A
Mortgage modifications, evidence of pre-existing indebtedness 23‑B
Participation in loan or investment 23‑C
Mortgage modifications 24
Income debentures 25
Working capital 26
Conditions and security for loans 26‑A
Findings for municipally-aided projects 26‑B
Special provisions with respect to state urban development corporation projects 26‑C
Special provisions with respect to Battery Park city projects 27
Limitations 28
Payments from earnings 29
Acquisition of property 30
Transfer of real property 31
Rentals and selection of tenants 31‑A
Resale price of shares 31‑B
Assignment or pledge of tenant cooperator’s shares 31‑C
Tenant-cooperators 32
Supervision and regulation 32‑A
Additional supervision and regulation 32‑B
Annual reports 33
Tax exemptions 34
Foreclosure and judgments 35
Voluntary dissolution 35‑A
Requirements regarding dissolution 36
Sale of project prior to termination of tax exemption 36‑A
Additional powers of municipalities 37
Separability clause
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Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 13-A’s source at nysenate​.gov

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