(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.
Structure New York Laws
Article 2 - Limited-Profit Housing Companies
11 - Policy and Purposes of Article.
11-A - Additional Policy and Purposes of Article.
13 - Limited-Profit Housing Companies; How Created.
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; Partnership Relations.
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.
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.
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.
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; Application of Shares.
32 - Supervision and Regulation.
32-A - Additional Supervision and Regulation.
34 - Foreclosure and Judgments.
35-A - Requirements Regarding Dissolution.
36 - Sale of Project Prior to Termination of Tax Exemption.