Assembly Bill A8602

2011-2012 Legislative Session

Relates to the supervision of certain limited profit housing companies

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A8602 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง32, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A344
2015-2016: A585
2017-2018: A3577
2019-2020: A1297
2021-2022: A2337
2023-2024: A56

2011-A8602 (ACTIVE) - Summary

Relates to the supervision of certain limited profit housing companies.

2011-A8602 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8602

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                           September 21, 2011
                               ___________

Introduced  by  M. of A. ROSENTHAL, V. LOPEZ, BENEDETTO, KAVANAGH, MILL-
  MAN, REILLY, CAMARA, J. RIVERA, BOYLAND, CLARK, BROOK-KRASNY,  TITONE,
  SPANO,  GIBSON,  CASTRO, BARRON, P. RIVERA, MOYA -- Multi-Sponsored by
  -- M. of A. ARROYO, AUBRY, BRENNAN, COOK,  DINOWITZ,  FARRELL,  GLICK,
  GOTTFRIED,  KELLNER,  MARKEY,  M. MILLER, ORTIZ, PERRY, WRIGHT -- read
  once and referred to the Committee on Housing

AN ACT to amend the private housing finance  law,  in  relation  to  the
  supervision of certain limited profit housing companies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 7 of section 32 of the private housing  finance
law,  as  amended by chapter 550 of the laws of 1968, is amended to read
as follows:
  7. Whenever the commissioner, in the case of a company undertaking  or
otherwise operating a state-aided project, or the supervising agency, in
the  case of a company undertaking or otherwise operating a municipally-
aided project, shall be of the opinion that such company is  failing  or
omitting,  or  is about to fail or omit to do anything required of it by
law or by order of the commissioner or  is  doing  or  is  about  to  do
anything,  or  permitting anything, or is about to permit anything to be
done, contrary to and in violation of law or of any order, regulation or
directive of the commissioner or the supervising agency, as the case may
be, or which is improvident  or  prejudicial  to  the  interest  of  the
public,  the  lienholders, the stockholders, or the tenants, the commis-
sioner or the supervising agency, as the case may be, [may, in  addition
to  such  other  remedies as may be available, commence] SHALL TAKE SUCH
STEPS, AS MAY BE NECESSARY AND PROPER TO EFFECT SUCH REMEDIES AS MAY  BE
AVAILABLE. SUCH REMEDY MAY INCLUDE COMMENCING an action or proceeding in
the  supreme  court  of the state of New York in the name of the commis-
sioner or the supervising agency, as the case may be, for the purpose of
having such violations or threatened violations stopped  and  prevented,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13223-01-1
              

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