N.Y. PVH Law § 31-B
This is the official text of N.Y. PVH Law § 31-B, part of New York’s PVH Law — part of the compiled statutory law of New York, published by the state as "PVH Law." Browse the sections below, each linked to its official government source.
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Assignment or pledge of tenant cooperator's shares
Official statutory text
§ 31-b. Assignment or pledge of tenant cooperator's shares.\nNotwithstanding any other provision of law, a tenant cooperator's shares\nin a mutual company may be assigned or pledged as collateral for the\npurpose of securing a loan for the purchase of such shares. The\ncommissioner or supervising agency, as the case may be, shall promulgate\nregulations which provide that in the event of a default of such loan,\nsuch shares may be resold, and the dwelling accommodations represented\nby such shares may be occupied, only in accordance with the provisions\nof this article.\n
Status: in_force · Read it on the official government site
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