There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 18-A - (1106 - 1106-J) LOW INCOME TURNKEY/ENHANCED HOUSING TRUST FUND PROGRAM
1106-E - Reserve fund.


NY Priv Hous Fin L § 1106-E (2012) What's This?
 
    § 1106-e. Reserve fund. There shall be a reserve fund for each project
  which  in  no  event  shall  initially  be less than five percent of the
  turnkey/enhanced rental project costs, exclusive of  any  reserve  fund.
  Such reserve fund may be provided by the corporation or any other source
  and,  if  provided  by  another source, shall be provided in cash or the
  payment of such cash shall be assured by deposit of adequate  marketable
  collateral prior to the payment by the corporation of any project costs,
  excluding advances for planning costs.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.