There is a newer version
of
the New York Laws
2020 New York Laws
PVH - Private Housing Finance
Article 4 - Limited Dividend Housing Companies
70 - General Policy.
Universal Citation: NY Priv Hous Fin L § 70 (2020)
§ 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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