N.Y. Private Housing Finance Law § 1011: Merged company savings fund

§ 1011. Merged company savings fund. The division shall create a fund

to hold and shall transfer all funds determined to be merged corporation

savings pursuant to paragraph (d) of subdivision five of section one

thousand four of this article into such fund. The division shall use

such funds, as available, for entering into new contracts, pursuant to

section one thousand three of this article, with not-for-profit

corporations located in areas of the state that are currently unserved

by a not-for-profit corporation that is maintaining a contract pursuant

to section one thousand three of this article.