New York Public Health Law Article 28-B - HOSPITAL MORTGAGE LOAN CONSTRUCTION

• 2870 - Short Title.
  This article shall be known, and may be cited and referred to as the "hospital loan construction law".
• 2871 - Policy and Purposes of Article.
  Many hospitals and other health facilities throughout the state are becoming obsolete and are no longer adequate to meet the needs of modern medicine. As...
• 2872 - Definitions.
  As used in this article, the following words and phrases shall have the following meanings unless a different meaning is plainly required by the context:...
• 2873 - Regulation of Eligible Borrowers.
  1. Every eligible borrower, as a condition precedent to borrowing funds from the agency, shall enter into a regulatory agreement with the commissioner which shall...
• 2874 - Loans.
  1. Any eligible borrower may, subject to the approval of the commissioner, borrow funds from the agency and the repayment thereof may be secured by...
• 2874-a - Mortgage Loans to Eligible Secured Hospital Borrowers.
  * Except as specified herein, eligible secured hospital borrowers shall be subject to all of the requirements to which eligible borrowers are subject under this...
• 2875 - Conditions and Security for Loans.
  No loan shall be made by the agency to an eligible borrower until the commissioner has approved the project and finds that: 1. The eligible...
• 2876 - Occupancy or Other Rates.
  An eligible borrower shall, with the approval of the commissioner, fix rates to be charged for occupancy or other use of each project. The commissioner...
• 2877 - Transfer of Real Property.
  Notwithstanding any requirement of law to the contrary or any provision of any general, special or local law, charter or ordinance, every executor, administrator, trustee,...
• 2878 - Supervision.
  1. The commissioner may from time to time make, alter, amend and repeal rules and regulations for the supervision, examination, regulation and audit of an...
• 2879 - Foreclosures and Judgments.
  1. In any foreclosure action the commissioner shall be made a party defendant. He shall take all steps necessary to protect the interests of the...
• 2880 - Hospital Facilities Development Fund.
  1. Establishment of fund. a. There is hereby created and established in the department of health a revolving fund to be known as the "hospital...
• 2881 - Fees and Charges.
  The commissioner may, by regulation, establish and charge to eligible borrowers, for the period from occupancy date to mortgage discharge, a fee for inspection, regulation,...
• 2882 - Separability.
  If any clause, sentence, paragraph or part of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall...
• 2883 - Authority and Responsibility of Commissioner Regarding Hospital Mortgages.
  For the purposes of this article, only the provisions of sections twenty-eight hundred seventy, twenty-eight hundred seventy-one, twenty-eight hundred seventy-two, twenty-eight hundred seventy-three, twenty-eight hundred...

Last modified: February 3, 2019