New York Public Authorities Law Part 2 -

• 2425 - Statement of Legislative Findings and Purpose With Respect to Insurance Commitments or Contracts by the Agency.
  It is hereby found that there exist in many cities, towns and villages of the state neighborhoods which are blighted, are becoming blighted or may...
• 2426 - Definitions.
  As used in sections twenty-four hundred twenty-five through twenty-four hundred twenty-nine inclusive. 1. "Financial institution". Any bank, trust company, national bank, savings bank, state or...
• 2427 - Additional Powers of the Agency.
  The agency shall have the following additional powers only with respect to insuring mortgage loans and providing development corporation credit support: 1. To establish and...
• 2428 - Insurance of Mortgages.
  2428 Insurance of mortgages. 1. The agency is authorized, subject to the provisions of this article, to make commitments to insure and to contract to...
• 2428-a - Development Corporation Credit Support Account As Source of Development Corporation Credit Support.
  1. The agency is authorized, subject to the provisions of this title, to provide the development corporation credit support account as a source or potential...
• 2429 - Rentals.
  Notwithstanding the provisions of, or any regulation promulgated pursuant to, the emergency housing rent control law, the local emergency housing rent control act or local...
• 2429-a - Payment of Insurance and Development Corporation Credit Support.
  1. The agency shall establish procedures to be followed by a mortgagee in the event of a default under the terms of any mortgage insured...
• 2429-b - Mortgage Insurance Fund.
  * 1. (a) The agency shall create and establish a mortgage insurance fund. Within such fund, the agency shall establish: (i) a special account, which...
• 2429-c - Charges and Fees.
  * 1. The agency shall fix a premium charge for its insurance of mortgages pursuant to this article which, except for pool insurance, shall not...
• 2429-d - Contributions to Agency.
  Notwithstanding the provisions of any general or special law or the provisions of any certificate of incorporation, charter or other articles of organization, all domestic...
• 2429-e - Examination.
  At least once in each calendar year the agency shall be examined by the superintendent of financial services for the purposes of determining the agency's...
• 2429-f - Special Provisions Relating to Directors of the Agency.
  The agency may purchase from, sell to, borrow from, loan to, contract with or otherwise deal with any corporation, trust, association, partnership or other entity...

Last modified: February 3, 2019