350 – Short Title.

§ 350. Short title. This article shall be known and may be cited and referred to as the “community senior citizens centers and services companies law.”

351 – Policy and Purposes of Article.

§ 351. Policy and purposes of article. It is hereby declared that the provision of new and improved community senior citizens facilities is necessary to care for the increasing number of persons who are in need of programs and services for the aging. Such facilities should be located close to the people they serve and […]

352 – Definitions.

§ 352. Definitions. As used in this article the following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: 1. “Company”, or “community senior citizens centers and services company”. A company, duly incorporated pursuant to the provisions of the not-for-profit corporation law and this article, for […]

353 – Companies; How Created.

§ 353. Companies; how created. Notwithstanding the provisions of any other law or requirement to the contrary, companies shall be incorporated and organized pursuant to the not-for-profit corporation law and this article. In addition to those matters required to be set forth in the certificate of incorporation by the not-for-profit corporation law, the certificate shall […]

354 – Consent of Commissioner.

§ 354. Consent of commissioner. Whenever any such certificate shall be presented to the secretary of state, he shall not file such certificate unless there shall accompany the same a certificate of the commissioner stating that he consents to the filing of such certificate; nor shall any amendment to the certificate of incorporation be filed […]

355 – Powers and Limitations of a Company.

§ 355. Powers and limitations of a company. 1. Except as is inconsistent with the provisions of this article, a company shall have, in carrying out the purpose of this article, the powers conferred on corporations by the not-for-profit corporation law and shall be subject to the limitations contained therein. 2. Companies shall have the […]

356 – Members; Officers and Directors.

§ 356. Members; officers and directors. No member or director of a company shall receive any salary or other compensation for services as such member or director, other than reimbursement of actual and necessary expenses incurred in the performance of his duties. No member, officer, or employee of a company shall acquire any interest, direct […]

357 – Financing.

§ 357. Financing. 1. Any company formed under this article may, subject to the approval of the commissioner, borrow funds from the New York state housing finance agency and secure the repayment thereof by bond or note and mortgage which shall contain such terms and conditions as may be deemed necessary or desirable by the […]

358 – Conditions and Security for Loans.

§ 358. Conditions and security for loans. No loan shall be made by the New York state housing finance agency to a company until the commissioner has approved the project and finds that: (1) The company has complied with all of the provisions of this article and all applicable laws and regulations; (2) There is […]

359 – Rates and Fees.

§ 359. Rates and fees. A company shall, with the approval of the commissioner, fix maximum rates and fees to be charged persons served by each project for the facilities and services provided by the company to such persons, the average of such rates and fees for any one project not to exceed the maximum […]

360 – Transfer of Real Property.

§ 360. 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, […]

361 – Supervision and Regulation.

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

362 – Voluntary Dissolution.

§ 362. Voluntary dissolution. At any time after the expiration of ten years after the occupancy date, a company may be voluntarily dissolved, with the consent of the commissioner, upon repayment in full of all obligations under the mortgage and payment of all obligations of the company, as approved by the commissioner.

363 – Foreclosures and Judgments.

§ 363. 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 or the department. Foreclosures shall not be decreed unless the court to which application is […]

364 – Fees and Charges.

§ 364. Fees and charges. The department may by regulation establish and charge to any company such fees and charges for inspection, regulation, supervision and audit as to the department may appear just and reasonable in order to recover the costs of performing such functions.

365 – Separability.

§ 365. 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 […]