N.Y. Private Housing Finance Law § 70: General policy

§ 70. General policy. It is hereby declared to be the policy of this

article to encourage the investment of the savings of the people in low

rent housing accommodations, to protect such investment against loss and

to assure a fair return thereon. To this end, every responsible official

of the state shall, wherever necessary, take all reasonable steps to the

end that the security and safety of the mortgages referred to in this

article shall be safeguarded and to maintain public confidence in the

stock and obligations of housing companies created under this article.