10 CRR-NY 900.10NY-CRR
10 CRR-NY 900.10
10 CRR-NY 900.10
900.10 Authorization to begin construction.
(a) Upon issuance of a certificate of authority, the operator may begin construction of the model units and a sales office.
(b) Construction of the community may begin upon written authorization of the commissioner. Such authorization shall be granted upon:
(1) proof of execution of contracts for at least 50 percent of all living units or approved phase of living units accompanied by a deposit of at least 10 percent of the entrance fee. Such proof shall consist of a listing certified by the operator which includes the names, addresses and phone numbers of prospective residents and amounts of the deposits paid;
(2) obtaining all applicable permits and approvals; and
(3) satisfaction of all certificate of authority contingencies.
10 CRR-NY 900.10
Current through July 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, 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 Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.