Bill > S06488

This bill amends the Private Housing Finance Law to expand the supervisory powers of the Commissioner or the supervising agency over certain limited profit housing companies. The bill allows the Commissioner or the supervising agency to take necessary and proper steps to address any violations or threatened violations by these companies, including commencing legal action and appointing a receiver. The bill aims to ensure that these companies comply with the law and act in the best interests of the public, lienholders, stockholders, and tenants.