(a) The Connecticut Housing Finance Authority shall establish a subsidiary to be known as the State Housing Authority. The SHA shall be the successor to the Connecticut Housing Authority. The powers of the SHA shall be vested in and exercised by a board of directors, which shall consist of three members to be appointed by the board of directors of the Connecticut Housing Finance Authority. One such member of the board of directors of the SHA shall be an officer or employee of the Connecticut Housing Finance Authority, and two such members of the board of directors of the SHA shall be members of the board of directors of the Connecticut Housing Finance Authority. Any vacancy on the board of directors of the SHA shall be filled by the board of directors of the Connecticut Housing Finance Authority. The chairperson of the board of directors of the SHA shall be appointed by the board of directors of the Connecticut Housing Finance Authority. Action may only be taken by the SHA by a majority vote of the members of the board of directors thereof. Members of the board of directors of the SHA shall receive no compensation for the performance of their duties under this section but shall be reimbursed for necessary expenses incurred in the performance thereof. A member of the board of directors of the SHA shall be eligible for reappointment. Any member of the board of directors of the SHA may be removed by a majority vote of the board of directors of the Connecticut Housing Finance Authority for misfeasance, malfeasance or wilful neglect of duty. Each member of the board of directors of the SHA before entering upon his duties shall take and subscribe the oath of affirmation required by article XI, section 1, of the state Constitution. A record of each such oath shall be filed in the office of the Secretary of the State. In the event a member of the board of directors of the SHA is an ex-officio director of the Connecticut Housing Finance Authority, then such director may designate his deputy or any member of his staff to represent him at meetings of the board with full power to act and vote on his behalf.
(b) Notwithstanding the provisions of any other law, no officer or employee of this state shall be deemed to have forfeited or shall forfeit his office or employment by reason of his acceptance of membership on the board of directors of the SHA or his services thereon.
(P.A. 95-250, S. 4, 42; 95-309, S. 11, 12.)
History: P.A. 95-309 changed effective date of P.A. 95-250 but did not affect this section.
See Sec. 8-121(e) re limited continuing function of Connecticut Housing Authority.
See Sec. 32-1k for definitions.
Structure Connecticut General Statutes
Title 8 - Zoning, Planning, Housing and Economic and Community Development
Chapter 134 - Connecticut Housing Finance Authority Act
Section 8-241. - Short title: Connecticut Housing Finance Authority Act.
Section 8-242. - Declaration of policy.
Section 8-242a. - Establishment of subsidiaries by authority.
Section 8-244a. - Commissioner of Economic Development to be member of authority.
Section 8-244b. - Establishment of State Housing Authority.
Section 8-244c. - State Housing Authority to be successor to Connecticut Housing Authority.
Section 8-244d. - Bonds, notes or other obligations.
Section 8-244e. - Definitions. Additional powers and duties of Commissioner of Housing.
Section 8-245. - State personnel may be board members of authority.
Section 8-246. - Executive director. Appointment and duties.
Section 8-248. - Perpetual succession of authority.
Section 8-249. - Quorum. Board action. Written procedures.
Section 8-250. - Purpose and powers of authority.
Section 8-252. - Issuance of bonds by authority.
Section 8-253. - Mortgage loans and insurance of mortgage payments.
Section 8-253a. - Additional loan conditions.
Section 8-254. - Applications for mortgage insurance.
Section 8-254a. - Tenant selection plans of mortgagors.
Section 8-255. - Mortgage insurance premiums.
Section 8-256. - Default by mortgagor and subsequent action.
Section 8-260. - Reports to Governor and General Assembly. Audit.
Section 8-261. - Pledge by state as to limitation or alteration of rights vested in authority.
Section 8-262. - Interpretation of powers.
Section 8-262a. - Penalty for false statement.
Section 8-263. - Provisions controlling over inconsistent law.
Section 8-264 and 8-265. - Purchase of or loans on mortgages insured by state agencies. Bond issue.
Section 8-265a. - Land of authority subject to local regulation.
Section 8-265b. - Tax-exempt status of authority. Payment in lieu of taxes.
Section 8-265bb. - Contract for state assistance to authority.
Section 8-265cc. - Definitions.
Section 8-265e. - Annual study of current market rent levels.
Section 8-265g. - Mortgage assistance for low or moderate income families or persons.
Section 8-265h. - Housing advisory panel.
Section 8-265hh. - Repayment agreement.
Section 8-265i. - Reverse annuity mortgage program.
Section 8-265ii. - Adoption of procedures.
Section 8-265jj. - Filing of notice of agreement to participate in program with the authority.
Section 8-265mm. - Pilot program of home purchasing assistance for police officers.
Section 8-265o. - Definitions.
Section 8-265oo. - Residential mortgage loan refinancing guarantee program.
Section 8-265p. - Residential mortgage refinancing guarantee program.
Section 8-265pp. - Mortgage assistance program for certain teachers.
Section 8-265q. - Mortgagee participation.
Section 8-265qq. - Assessment increase deferred for rehabilitated properties.
Section 8-265r. - Eligibility of loans.
Section 8-265rr. - Mortgage refinancing program for homeowners with adjustable rate mortgages.
Section 8-265ss. - Homeowner's Equity Recovery Opportunity loan program.
Section 8-265t. - Points. Annual premium.
Section 8-265tt. - Definitions.
Section 8-265u. - Termination of loan guarantee.
Section 8-265v. - Written procedures.