New York Laws
Sub Title 5-A - Subtitle V-a Loans to Lenders Program
1835-B - Additional Powers of the Authority.

§ 1835-b. Additional powers of the authority. The authority shall have
the following additional powers only with respect to making loans to
lenders for the purpose of financing loans for agricultural business
projects pursuant to this subtitle:

1. To prescribe standards and criteria for the granting of
applications for loans to lenders and for the making of loans for
agricultural business projects, which standards and criteria shall
implement the intent and purposes of this subtitle. In developing such
standards and criteria the authority shall consult with the
superintendent of financial services regarding the qualifications of
lenders and with the commissioner of agriculture and markets and the
commissioner of economic development regarding the standards and
criteria for the making of loans for business projects.

2. To make, and undertake commitments to make, loans to lenders under
such terms and conditions as shall require the proceeds of such loans to
lenders to be used by lenders to make loans for agricultural business
projects;

3. To make and execute contracts for the administration or servicing
of any loan to lender made by the authority and to pay the reasonable
value of services rendered to the authority pursuant to such contracts;

4. To borrow money and issue bonds and notes as provided in section
one thousand eight hundred thirty-five-d of this subtitle; and

5. To do any and all things necessary or convenient to carry out its
corporate purposes and exercise the powers given and granted in this
subtitle.