New York Laws
Article 2 - Limited-Profit Housing Companies
14 - Consent of Commissioner to Incorporation.

ยง 14. Consent of commissioner to incorporation. Whenever any such
certificate shall be presented to the secretary of state, he shall not
file such certificate unless there shall accompany the same a
certificate of the commissioner that he consents to the filing of such
certificate; nor shall any amendment to the certificate of incorporation
be filed unless it is accompanied by a certificate of the commissioner
consenting thereto. If a company has entered into a contract with a
municipality for the construction of a municipally aided project, the
commissioner shall not issue a certificate consenting to an amendment of
the certificate of incorporation of such company, unless the supervising
agency has given its written consent to such amendment.

Structure New York Laws

New York Laws

PVH - Private Housing Finance

Article 2 - Limited-Profit Housing Companies

10 - Short Title.

11 - Policy and Purposes of Article.

11-A - Additional Policy and Purposes of Article.

12 - Definitions.

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.

17 - Powers.

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.

21 - Capital Structure.

22 - State Loans.

22-A - Redevelopment Loans.

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.

24 - Income Debentures.

25 - Working Capital.

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.

27 - Limitations.

28 - Payments From Earnings.

29 - Acquisition of Property.

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.

32-B - Annual Reports.

33 - Tax Exemptions.

34 - Foreclosure and Judgments.

35 - Voluntary Dissolution.

35-A - Requirements Regarding Dissolution.

36 - Sale of Project Prior to Termination of Tax Exemption.

36-A - Additional Powers of Municipalities.

37 - Separability Clause.