N.Y. Private Housing Finance Law § 90: Purchase by housing companies

§ 90. Purchase by housing companies. Before any housing company shall

purchase the property of any other housing company, it shall file an

application with the commissioner in the manner hereinbefore provided as

for a new project and shall obtain the consent of the commissioner to

the purchase and agree to be bound by the provisions of this article and

the commissioner shall not give his consent unless it is shown to the

satisfaction of the commissioner that the project is one that can be

successfully operated according to the provisions of this article.