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2012 New York Consolidated Laws
PVH - Private Housing Finance
Article 4 - (70 - 97) LIMITED DIVIDEND HOUSING COMPANIES
70 - General policy.


NY Priv Hous Fin L § 70 (2012) What's This?
 
    §  70.  General policy. It is hereby declared to be the policy of this
  article to encourage the investment of the savings of the people in  low
  rent housing accommodations, to protect such investment against loss and
  to assure a fair return thereon. To this end, every responsible official
  of the state shall, wherever necessary, take all reasonable steps to the
  end  that  the  security and safety of the mortgages referred to in this
  article shall be safeguarded and to maintain public  confidence  in  the
  stock and obligations of housing companies created under this article.

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