ยง 25. Working capital. The supervising agency or the commissioner, as
the case may be, may permit stock or income debentures to be issued for
working capital to be used in connection with such project to an amount
not exceeding three per centum of the estimated project cost or the
actual project cost, whichever is larger.
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.