§ 84. Regulation of housing companies. The commissioner may:\n 1. Order such repairs as will preserve the health and safety of the\noccupants of such buildings and structures owned or operated by housing\ncompanies, and the maintenance thereof in proper condition and repair.\n 2. Order all housing companies to do such acts as may be necessary to\ncomply with the provisions of the law, the rules and regulations adopted\nby the commissioner, or the terms of any project approved by the\ncommissioner, or to refrain from doing any acts in violation thereof.\n 3. Examine all housing companies and keep informed as to their general\ncondition, their capitalization and the manner in which their property\nis constructed, leased, operated or managed with respect to their\ncompliance with all pro
Free access — add to your briefcase to read the full text and ask questions with AI
§ 84. Regulation of housing companies. The commissioner may:\n 1. Order such repairs as will preserve the health and safety of the\noccupants of such buildings and structures owned or operated by housing\ncompanies, and the maintenance thereof in proper condition and repair.\n 2. Order all housing companies to do such acts as may be necessary to\ncomply with the provisions of the law, the rules and regulations adopted\nby the commissioner, or the terms of any project approved by the\ncommissioner, or to refrain from doing any acts in violation thereof.\n 3. Examine all housing companies and keep informed as to their general\ncondition, their capitalization and the manner in which their property\nis constructed, leased, operated or managed with respect to their\ncompliance with all provisions of law and orders of the commissioner.\n 4. Either himself or through his inspectors or employees duly\nauthorized by him, enter in or upon and inspect the property, equipment,\nbuildings, plants, offices, apparatus and devices of any housing\ncompanies; examine all books, contracts, records, documents and papers\nof any housing companies and by subpoena duces tecum compel the\nproduction thereof.\n 5. In his discretion, prescribe uniform methods and forms of keeping\naccounts, records and books to be observed by housing companies, and\nafter a hearing to prescribe by order accounts in which particular\noutlays and receipts shall be entered, charged or credited.\n 6. Require every housing company to file with the commissioner an\nannual report setting forth such information as the commissioner may\nrequire, verified by the oath of the president, vice-president,\ntreasurer, secretary, general manager or receiver, if any, thereof, or\nby the person required to file the same. Such report shall be in the\nform, cover the period and be filed at the time prescribed by the\ncommissioner. The commissioner may further require specific answers to\nquestions upon which the commissioner may desire information and may\nalso require such housing company to file periodic reports in the form,\ncovering the period, and at the time prescribed by the commissioner.\n 7. (a) Administer oaths, take affidavits, hear testimony and take\nproof under oath at public or private hearings; (b) subpoena and require\nthe attendance of witnesses and the production of books and papers\npertaining to any investigation and inquiries authorized by this article\nand examine them in relation to any matter concerning which the power to\ninvestigate is granted; (c) issue commissions for the examination of\nwitnesses who are out of the state or unable to attend before him or are\nexcused from attendance; (d) investigate into the affairs of a housing\ncompany and into the dealings, transactions or relationships of such\ncompany with third persons; (e) intervene, as a matter of right, in any\naction or proceeding of which notice shall be given, affecting the\nproject of a housing company; (f) take such steps in such action or\nproceeding as may be necessary to protect the public interest.\n With regard to duties or liabilities arising out of this article, the\nstate or the commissioner may be sued in the same manner as a private\nperson. No costs shall be awarded against the commissioner or the state\nin any such litigation.\n 8. Waive, in whole or in part, any of the regulatory powers over\nmutual housing companies vested in him by this article after the period\nof municipal tax exemption granted to such mutual housing company\nprojects pursuant to this article has expired.\n 8-a. Notwithstanding any other provision of law, with respect to\nprojects completed prior to July first, nineteen hundred eighty-five, no\nlimited dividend housing company shall be required to pay the\ncommissioner any fees for the audit or other regulation of the company.\n 9. From time to time make, amend and repeal rules and regulations for\ncarrying into effect the provisions of this article.\n 10. Modify supervision of a housing company upon finding that\nduplicative supervisory functions may impose an undue regulatory burden\nor unnecessary expenditure of agency resources, by taking such actions\nas are deemed appropriate, including consolidating supervisory functions\nassociated with different programs, and entering into memoranda of\nunderstanding with other agencies for the allocation of supervisory\nfunctions.\n