N.Y. Mental Hygiene Law § 75.25: Supervision and regulation

§ 75.25 Supervision and regulation.

(a) The commissioner may from time to time make, alter, amend, and

repeal rules and regulations for the supervision, examination,

regulation, and audit of companies and for carrying into effect the

provisions and purposes of this article, and each company shall submit

an annual report of its operations to the commissioner, and the New York

state housing finance agency or a lending institution if the mortgage

loan was received from such lending institution who may examine and

audit the books and records of the company at any time.

(b) The commissioner and the department of mental hygiene shall have

power to act for and in behalf of the agency in servicing the mortgage

loans of the agency, and to perform such functions and services in

connection with the making, servicing, and collection of such loans as

shall be requested by the agency.

(c) Notwithstanding any inconsistent provision of law, general or

special, the health and mental hygiene facilities improvement

corporation is hereby authorized and empowered to render such services

as may be requested by the commissioner in the performance of his

duties, powers, and functions pursuant to the provisions of this

article. The commissioner shall reimburse the health and mental hygiene

facilities improvement corporation for the actual and necessary cost of

all services so performed.

(d) 1. The commissioner and the department of mental hygiene may, with

respect to any project of which the New York state housing finance

agency has acquired the fee or otherwise, enter into an agreement with

said agency subject to the approval of the director of the budget, for

the department of mental hygiene, as provided in paragraph (two) hereof,

to operate the said project in a manner consistent with the purposes of

this article. In such event, the commissioner, on behalf of the

department of mental hygiene, shall have the power to use any available

funds to pay all operating expenses and to comply with all the terms and

provisions of the mortgage, as though the mortgage had not been

foreclosed, and to comply with the provisions of this article.

2. Subject to the provisions of the agreement with said agency, the

commissioner may contract with any person, firm, or corporation which he

deems qualified to operate and manage such project and to perform such

duties and functions as he may deem necessary.