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NY A02058
Bill
Status
Introduced
1/14/2021
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
- Amends the Private Housing Finance Law to distinguish between mutual and non-mutual companies regarding voluntary dissolution of aided housing companies
- Non-mutual companies aided by loans after May 1, 1959 may voluntarily dissolve without commissioner consent at least 20 years after occupancy date, upon full repayment of mortgage and dissolution expenses
- Mutual companies aided by loans after May 1, 1959 may only voluntarily dissolve without commissioner consent after their municipal tax exemption and any extensions thereof have expired
- Takes effect immediately upon enactment
Legislative Description
Relates to the permitted voluntary dissolution of a mutual company.
Last Action
referred to housing
1/5/2022
Committee Referrals
Housing1/14/2021
Full Bill Text
No bill text available