Legislation
SECTION 75.27
Voluntary dissolution
Mental Hygiene (MHY) CHAPTER 27, TITLE E, ARTICLE 75
§ 75.27 Voluntary dissolution.
At any time after the expiration of twenty years after the occupancy
date, or such earlier date as the bonds issued by the New York state
housing finance agency with respect to the project are subject to
redemption, a company may be voluntarily dissolved, with the consent of
the commissioner, upon repayment in full of all obligations under the
mortgage and payment of all obligations of the company, as approved by
the commissioner.
At any time after the expiration of twenty years after the occupancy
date, or such earlier date as the bonds issued by the New York state
housing finance agency with respect to the project are subject to
redemption, a company may be voluntarily dissolved, with the consent of
the commissioner, upon repayment in full of all obligations under the
mortgage and payment of all obligations of the company, as approved by
the commissioner.