N.Y. Private Housing Finance Law Section 557
Supervision of certain housing companies

The provisions of § 13 (Limited-profit housing companies)section thirteen of this chapter requiring the approval by the commissioner of housing of the persons incorporating a limited-profit housing company, and the provisions of § 14 (Consent of commissioner to incorporation)section fourteen of this chapter requiring the consent of the commissioner of housing to the filing of a certificate of incorporation of a limited-profit housing company in the office of the secretary of state and amendments thereof, shall not apply to a municipally-aided housing company organized for the purpose of purchasing or leasing a federally-aided project or municipally-aided project from a municipality or housing authority. The deed or lease shall, in such cases, make provision for the supervision of such companies by one or more state, federal or municipal agencies.

Source: Section 557 — Supervision of certain housing companies, https://www.­nysenate.­gov/legislation/laws/PVH/557 (updated Sep. 22, 2014; accessed Jun. 15, 2024).

Jun. 15, 2024

Last modified:
Sep. 22, 2014

§ 557’s source at nysenate​.gov

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