2013 New York Consolidated Laws
PVH - Private Housing Finance
Article 5 - (100 - 128) REDEVELOPMENT COMPANIES
111-A - Participation by certain corporations and individuals.

 
    §  111-a.  Participation by certain corporations and individuals.  Any
  bank, savings bank, savings institution, savings and  loan  association,
  trust company, insurance company or association, or fiduciary authorized
  to invest in mortgages and mortgage bonds of a redevelopment company, or
  any  combination  of  the foregoing, shall have power to participate and
  invest, singly or jointly, with the New York  city  housing  development
  corporation  in  a bond or note and single participating mortgage, or in
  separate bonds or notes and mortgages pursuant to this article.  In  the
  event  of  such  participation,  the  interest  of each shall have equal
  priority as to lien in proportion to the amount of loan so secured,  but
  need  not  be equal as to interest rate, time or rate of amortization or
  otherwise.