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2015 New York Laws
PVH - Private Housing Finance
Article 10 - (Private Housing Finance) SALE OR LEASE OF PROJECTS
557 - Supervision of certain housing companies.

NY Priv Hous Fin L § 557 (2015) What's This?
  557.  Supervision  of  certain housing companies. The provisions of
  section  thirteen  of  this  chapter  requiring  the  approval  by   the
  commissioner  of  housing  of the persons incorporating a limited-profit
  housing company, and the provisions of section fourteen of this  chapter
  requiring  the consent of the commissioner of housing to the filing of a
  certificate of incorporation of a limited-profit housing company in  the
  office of the secretary of state and amendments thereof, shall not apply
  to  a  municipally-aided  housing  company  organized for the purpose of
  purchasing or leasing a  federally-aided  project  or  municipally-aided
  project  from  a  municipality  or  housing authority. The deed or lease
  shall, in such  cases,  make  provision  for  the  supervision  of  such
  companies by one or more state, federal or municipal agencies.

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