New York Private Housing Finance Law Article 28 - NEW YORK STATE FIRST HOME SAVINGS PROGRAM

• 1250 - Program Established.
  * There is hereby established a first home savings program and such program shall be known and may be cited as the "New York state...
• 1251 - Purposes.
  * The purposes of the program shall be to authorize the establishment of first home savings accounts and to provide guidelines for the maintenance of...
• 1252 - Definitions.
  * As used in this article, the following terms shall have the following meanings: 1. "Account" or "first home savings account" shall mean an individual...
• 1253 - Functions of the Comptroller.
  * 1. The comptroller shall implement the program under the terms and conditions established by this article and a memorandum of understanding with the commissioner...
• 1254 - Powers of the Comptroller.
  * 1. The comptroller may implement the program through use of financial organizations as account depositories and managers. Under the program, an account owner may...
• 1255 - Program Requirements; First Home Savings Account.
  * 1. First home savings accounts established pursuant to the provisions of this article shall be governed by the provisions of this section. 2. A...
• 1256 - Program Limitations; First Home Savings Account.
  * 1. Nothing in this article shall be construed to: (a) give any designated beneficiary any rights or legal interest with respect to an account...

Last modified: February 3, 2019