§ 43 — New York state housing finance agency

New York § 43

• Jurisdiction: New York
• Law PVH: Private Housing Finance
• Art. 3: New York State Housing Finance Agency

Text

§ 43. New York state housing finance agency. 1. There is hereby\ncreated the "New York state housing finance agency". The agency shall be\na corporate governmental agency constituting a public benefit\ncorporation. Its membership shall consist of the commissioner of\nhousing and community renewal, the director of the budget, the\ncommissioner of taxation and finance, one member appointed by the\ntemporary president of the senate, and one member appointed by the\nspeaker of the assembly. In addition, there shall be four members to be\nappointed by the governor with the advice and consent of the senate. The\nmembers first appointed by the governor shall serve for terms ending\nthree, four, five and six years respectively from January first next\nsucceeding the date of their appointment. Their successors shall serve\nfor terms of six years each. Members shall continue in office until\ntheir successors have been appointed and qualified. The members\nappointed by the temporary president of the senate and the speaker of\nthe assembly shall serve at the pleasure of the temporary president of\nthe senate and the speaker of the assembly respectively. In the event of\na vacancy occurring in the office of any member by death, resignation or\notherwise, such vacancy shall be filled, for the unexpired term, if\napplicable, in the same manner as the original appointment. The\nprovisions of section thirty-nine of the public officers law shall apply\nto such members.\n 2. The governor shall designate from among the members appointed by\nhim or her a chairman, who shall serve as such during his or her term as\nmember. The members, including the chairman, shall serve without salary\nor other compensation, but each member, including the chairman, shall be\nentitled to reimbursement for actual and necessary expenses incurred in\nthe performance of his or her official duties and in the event that the\nchairman shall also be a full time officer or employee of the agency,\nthe chairman shall receive no salary as chairman but shall receive only\nhis or her regular salary as officer or employee, not to exceed the\naverage of the salaries paid to the appointed commissioners of the state\ndepartments or the regular salary such officer or employee was receiving\nat the time of his or her appointment as chairman, whichever is greater.\n 3. Such members other than the commissioner of housing and community\nrenewal, the director of the budget, the commissioner of taxation and\nfinance and the chairman if he be a full time officer or employee of the\nagency, may engage in private employment, or in a profession or\nbusiness, subject to the limitations contained in sections seventy-three\nand seventy-four of the public officers law. The agency shall, for the\npurposes of sections seventy-three and seventy-four of the public\nofficers law, be a "state-agency," and such members shall be "officers"\nof the agency for the purposes of said sections.\n 4. Notwithstanding any inconsistent provisions of law, general,\nspecial or local, no officer or employee of the state, or of any civil\ndivision thereof, shall be deemed to have forfeited or shall forfeit his\noffice or employment by reason of his acceptance of membership on the\nagency created by this section; provided, however, a member who holds\nsuch other public office or employment shall receive no additional\ncompensation or allowance for services rendered pursuant to this\narticle, but shall be entitled to reimbursement for his actual and\nnecessary expenses incurred in the performance of such services.\n 5. The governor may remove any member for inefficiency, neglect of\nduty or misconduct in office after giving him a copy of the charges\nagainst him, and an opportunity to be heard, in person or by counsel, in\nhis defense, upon not less than ten days' notice. If any such member\nshall be removed, the governor shall file in the office of the\ndepartment of state a complete statement of charges made against such\nmember, and his findings thereon, together with a complete record of the\nproceeding. The holding of office by the commissioner of housing shall\ncontinue to be governed by the provisions of section eleven of the\npublic housing law.\n 6. The agency and its corporate existence shall continue until\nterminated by law, provided, however, that no such law shall take effect\nso long as the agency shall have bonds, notes and other obligations\noutstanding. Upon termination of the existence of the agency, all its\nrights and properties shall pass to and be vested in the state.\n 7. The powers of the agency shall be vested in and exercised by no\nless than six of the members thereof then in office. The agency may\ndelegate to one or more of its members, or its officers, agents and\nemployees, such powers and duties as it may deem proper.\n 8. The commissioner of housing and community renewal, the director of\nthe budget and the commissioner of taxation and finance each may appoint\na person from their respective division or department to represent such\nmember, respectively, at all meetings of the agency from which such\nmember may be absent. Any such representative so designated shall have\nthe power to attend and to vote at any meeting of the agency from which\nthe member so designating him as a representative is absent with the\nsame force and effect as if the member designating him were present and\nvoting. Such designation shall be by written notice filed with the\nchairman of the agency by each of the said members. The designation of\nsuch persons shall continue until revoked at any time by written notice\nto the chairman by the respective member making the designation. Such\ndesignation shall not be deemed to limit the power of the appointing\nmember to attend and vote at any meeting of the agency.\n