N.Y. Private Housing Finance Law 661 – Assistance to the corporation
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§ 661. Assistance to the corporation. The state or city may make grants of money or property to the corporation for the purpose of enabling it to carry out its corporate purposes and for the exercise of its powers, including, but not limited to, deposits to the reserve funds. This section shall not be construed to limit any other power the state or city may have to make such grants to the corporation.
Terms Used In N.Y. Private Housing Finance Law 661
- 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.