N.Y. Private Housing Finance Law 104 – Consent of supervising agency to creation of redevelopment companies
§ 104. Consent of supervising agency to creation of redevelopment companies. A certificate or a copy of a certificate made pursuant to section one hundred three of this article shall be presented for filing to the secretary of state in the case of a corporation or limited liability company and to the supervising agency in the case of a partnership or trust. No certificate or any amendment thereto shall be filed without the prior written consent of the supervising agency. Such consent of the supervising agency shall not be given in the case of a partnership (general or limited), a limited liability company or a trust unless there has been filed with the supervising agency a partnership agreement, operating agreement or trust agreement, as the case may be, the terms and conditions of which shall be subject to the approval of the supervising agency.
Terms Used In N.Y. Private Housing Finance Law 104
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.