N.Y. Private Housing Finance Law § 580: Examination by comptroller

§ 580. Examination by comptroller. 1. The comptroller, or his legally

authorized representative, is hereby authorized and empowered from time

to time to examine the books and accounts of the division relating to

the housing development fund, and from time to time, not less than once

every five years, to examine the books and accounts of each housing

development fund company which received or is to receive aid from such

fund pursuant to this article, including its receipts, disbursements,

contracts, leases, loans, and any other moneys relating to its financial

operation, and from time to time, to examine the books and accounts of

any local loan administrator which has received advances from such fund

pursuant to this article, but only insofar as those books and accounts

relate to such advances and to the local loan administrator's compliance

with the master servicing agreement entered into pursuant to section

five hundred seventy-six-d of this article.

2. The comptroller of a municipality or, in the case of a municipality

having no comptroller, the chief fiscal officer of such municipality, is

hereby authorized and empowered from time to time to examine the books

and accounts relating to the municipal housing development fund, and the

supervising agency is hereby authorized and empowered from time to time,

not less than once every five years, to examine the books and accounts

of each housing development fund company which received or is to receive

aid from such fund, including its receipts, disbursements, contracts,

leases, loans, and any other moneys relating to its financial operation.