N.Y. Private Housing Finance Law § 43: New York state housing finance agency

§ 43. New York state housing finance agency. 1. There is hereby

created the "New York state housing finance agency". The agency shall be

a corporate governmental agency constituting a public benefit

corporation. Its membership shall consist of the commissioner of

housing and community renewal, the director of the budget, the

commissioner of taxation and finance, one member appointed by the

temporary president of the senate, and one member appointed by the

speaker of the assembly. In addition, there shall be four members to be

appointed by the governor with the advice and consent of the senate. The

members first appointed by the governor shall serve for terms ending

three, four, five and six years respectively from January first next

succeeding the date of their appointment. Their successors shall serve

for terms of six years each. Members shall continue in office until

their successors have been appointed and qualified. The members

appointed by the temporary president of the senate and the speaker of

the assembly shall serve at the pleasure of the temporary president of

the senate and the speaker of the assembly respectively. In the event of

a vacancy occurring in the office of any member by death, resignation or

otherwise, such vacancy shall be filled, for the unexpired term, if

applicable, in the same manner as the original appointment. The

provisions of section thirty-nine of the public officers law shall apply

to such members.

2. The governor shall designate from among the members appointed by

him or her a chairman, who shall serve as such during his or her term as

member. The members, including the chairman, shall serve without salary

or other compensation, but each member, including the chairman, shall be

entitled to reimbursement for actual and necessary expenses incurred in

the performance of his or her official duties and in the event that the

chairman shall also be a full time officer or employee of the agency,

the chairman shall receive no salary as chairman but shall receive only

his or her regular salary as officer or employee, not to exceed the

average of the salaries paid to the appointed commissioners of the state

departments or the regular salary such officer or employee was receiving

at the time of his or her appointment as chairman, whichever is greater.

3. Such members other than the commissioner of housing and community

renewal, the director of the budget, the commissioner of taxation and

finance and the chairman if he be a full time officer or employee of the

agency, may engage in private employment, or in a profession or

business, subject to the limitations contained in sections seventy-three

and seventy-four of the public officers law. The agency shall, for the

purposes of sections seventy-three and seventy-four of the public

officers law, be a "state-agency," and such members shall be "officers"

of the agency for the purposes of said sections.

4. Notwithstanding any inconsistent provisions of law, general,

special or local, no officer or employee of the state, or of any civil

division thereof, shall be deemed to have forfeited or shall forfeit his

office or employment by reason of his acceptance of membership on the

agency created by this section; provided, however, a member who holds

such other public office or employment shall receive no additional

compensation or allowance for services rendered pursuant to this

article, but shall be entitled to reimbursement for his actual and

necessary expenses incurred in the performance of such services.

5. The governor may remove any member for inefficiency, neglect of

duty or misconduct in office after giving him a copy of the charges

against him, and an opportunity to be heard, in person or by counsel, in

his defense, upon not less than ten days' notice. If any such member

shall be removed, the governor shall file in the office of the

department of state a complete statement of charges made against such

member, and his findings thereon, together with a complete record of the

proceeding. The holding of office by the commissioner of housing shall

continue to be governed by the provisions of section eleven of the

public housing law.

6. The agency and its corporate existence shall continue until

terminated by law, provided, however, that no such law shall take effect

so long as the agency shall have bonds, notes and other obligations

outstanding. Upon termination of the existence of the agency, all its

rights and properties shall pass to and be vested in the state.

7. The powers of the agency shall be vested in and exercised by no

less than six of the members thereof then in office. The agency may

delegate to one or more of its members, or its officers, agents and

employees, such powers and duties as it may deem proper.

8. The commissioner of housing and community renewal, the director of

the budget and the commissioner of taxation and finance each may appoint

a person from their respective division or department to represent such

member, respectively, at all meetings of the agency from which such

member may be absent. Any such representative so designated shall have

the power to attend and to vote at any meeting of the agency from which

the member so designating him as a representative is absent with the

same force and effect as if the member designating him were present and

voting. Such designation shall be by written notice filed with the

chairman of the agency by each of the said members. The designation of

such persons shall continue until revoked at any time by written notice

to the chairman by the respective member making the designation. Such

designation shall not be deemed to limit the power of the appointing

member to attend and vote at any meeting of the agency.