9 CRR-NY 1725-1.1NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 9. EXECUTIVE DEPARTMENT
SUBTITLE S. DIVISION OF HOUSING AND COMMUNITY RENEWAL
CHAPTER IV. STATE-ASSISTED HOUSING CONSTRUCTED BY PRIVATE ENTERPRISE
SUBCHAPTER C. HOUSING COMPANY MANAGEMENT
PART 1725. GENERAL ADMINISTRATION
SUBPART 1725-1. BASIC REFERENCES
9 CRR-NY 1725-1.1
9 CRR-NY 1725-1.1
1725-1.1 Private Housing Finance Law.
(a) The basic reference governing the general administration of housing companies is the Private Housing Finance Law, effective March 1, 1962. Prior to that date, the provisions of the law concerning housing companies were contained in articles IX and XII of the Public Housing Law.
(b) Housing companies organized pursuant to article II of the Private Housing Finance Law (formerly Public Housing Law, article XII) are defined as limited-profit housing companies.
(c) Housing companies organized pursuant to article IV of the Private Housing Finance Law (formerly Public Housing Law, article IX) are defined as limited-dividend housing companies.
(d) Projects under both programs may be available for occupancy on either a rental or a cooperative basis.
(e) Officers of the corporation, members of the board of directors, counsel and all other responsible employees should be familiar with:
(1) particular law or laws under which the company was organized; and
(2) the provisions of the certificate of incorporation.
(f) Although all sections of the Private Housing Finance Law are important, the following are of special significance:
ItemLimited dividendLimited profit
General policy§ 70§ 11
Powers and limitations§ 82§ 27
Regulation of housing company§ 84§ 32
Rentals and selection of tenants§ 85§ 31
9 CRR-NY 1725-1.1
Current through September 15, 2021
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.