New York § 1011 Merged company savings fund

New York Statutes

§ 1011 — Merged company savings fund

New York § 1011

Law PVHPrivate Housing Finance

Art. 17Housing and Community Preservation In Rural Areas

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Bluebook

N.Y. Private Housing Finance § 1011 (2026).

Text

  § 1011. Merged company savings fund. The division shall create a fund\nto hold and shall transfer all funds determined to be merged corporation\nsavings pursuant to paragraph (d) of subdivision five of section one\nthousand four of this article into such fund. The division shall use\nsuch funds, as available, for entering into new contracts, pursuant to\nsection one thousand three of this article, with not-for-profit\ncorporations located in areas of the state that are currently unserved\nby a not-for-profit corporation that is maintaining a contract pursuant\nto section one thousand three of this article.\n

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§ 1011. Merged company savings fund. The division shall create a fund\nto hold and shall transfer all funds determined to be merged corporation\nsavings pursuant to paragraph (d) of subdivision five of section one\nthousand four of this article into such fund. The division shall use\nsuch funds, as available, for entering into new contracts, pursuant to\nsection one thousand three of this article, with not-for-profit\ncorporations located in areas of the state that are currently unserved\nby a not-for-profit corporation that is maintaining a contract pursuant\nto section one thousand three of this article.\n