2850 – Short Title.

§ 2850. Short title. This article shall be known, and may be cited and referred to as the “nursing home companies law”.

2860 – Rental Rates and Selection of Occupants.

§ 2860. Rental rates and selection of occupants. 1. A company shall, with the approval of the commissioner, fix maximum rates to be charged occupants of each nursing home project for the facilities and services provided by the company to such occupants and the maximum rates to be charged to persons of low income who […]

2861 – Transfer of Real Property.

§ 2861. Transfer of real property. Notwithstanding any requirement of law to the contrary or any provision of any general, special or local law, charter or ordinance, every executor, administrator, trustee, guardian or other person holding trust funds or acting in a fiduciary capacity, unless the instrument under which such fiduciary is acting expressly forbids, […]

2862 – Supervision and Regulation.

§ 2862. Supervision and regulation. 1. The commissioner may from time to time make, alter, amend and repeal rules and regulations for the supervision, examination, regulation and audit of nursing home companies and for carrying into effect the provisions and purposes of this article, and each company shall submit an annual report of its operations […]

2863 – Payment Out of Earnings of Limited-Profit Nursing Home Companies.

§ 2863. Payment out of earnings of limited-profit nursing home companies. There shall be paid annually out of the earnings of the limited-profit nursing home company, after providing for all taxes, assessments and expenses, a sum for interest on an amortization of the mortgage indebtedness of all mortgages of the company, depreciation charges and reserves […]

2864 – Tax Exemptions of Limited-Profit Nursing Home Companies.

§ 2864. Tax exemptions of limited-profit nursing home companies. The real property in a project of a limited-profit nursing home company shall be exempt from all local and municipal taxes, other than assessments for local improvements, to the extent of the value of the property included in any such project as represents an increase over […]

2865 – Voluntary Dissolution.

§ 2865. Voluntary dissolution. 1. At any time after the expiration of twenty years after the occupancy date, or such earlier date as the bonds issued by the New York state housing finance agency or the New York state medical care facilities finance agency, as the case may be, with respect to the project are […]

2866 – Foreclosures and Judgments.

§ 2866. Foreclosures and judgments. 1. In any foreclosure action the commissioner shall be made a party defendant. He shall take all steps necessary to protect the interests of the public therein and no costs shall be awarded against him. Foreclosures shall not be decreed unless the court to which application is made shall be […]

2868 – Fees and Charges.

§ 2868. Fees and charges. The commissioner may by regulation establish and charge to any nursing home company, for the period of occupancy date to mortgage discharge, a fee for inspection, regulation, supervision and audit not to annually exceed two-tenths of one percent of the mortgage loan to recover the departmental costs in performing these […]

2869 – Separability.

§ 2869. Separability. If any clause, sentence, paragraph or part of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in […]