N.Y. Private Housing Finance Law 1052 – Definitions
§ 1052. Definitions. As used in this article:
Terms Used In N.Y. Private Housing Finance Law 1052
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Corporation: means the housing trust fund corporation established in section forty-five-a of this chapter. See N.Y. Private Housing Finance Law 1052
(a) all terms defined in article seventeen of this chapter shall have the same meanings herein as specified therein; and
(b) the following terms shall have the following meanings:
(1) "rural area revitalization project" means a specific work or series of works for the revitalization and improvement of a region of the rural area of the state through creation, preservation or improvement of housing resources; creation, preservation or improvement of local commercial facilities; restoration or improvement of public facilities or other aspects of the area environment; related community preservation or renewal activities; or any combination of the above.
(2) "qualified applicant" means a not-for-profit corporation under contract pursuant to article seventeen of this chapter or any other locally based organization which is either incorporated under the not-for-profit corporation law (or such law together with any other applicable law) or, if unincorporated, is not organized for the private profit or benefit of its members.
(3) "Corporation" means the housing trust fund corporation established in section forty-five-a of this chapter.