Bill > A01172

This bill amends the Private Housing Finance Law to allow the voluntary dissolution of a mutual company, which is a type of housing company, without the consent of the Commissioner or supervising agency, but only after the company's municipal tax exemption and any extension thereof have expired. The bill provides that other types of housing companies aided by a loan can voluntarily dissolve without consent after 20 years, as long as they have paid off the remaining balance on their mortgage and any dissolution-related expenses.