N.Y. Comp. Codes R. & Regs. tit. 9 § 1725-2.1

Current through Register Vol. 46, No. 18, May 1, 2024

Section 1725-2.1 - Responsibility to public

(a) Members of the board of directors of the housing company, whether rental or cooperative, bear a significant public responsibility, since they operate under a State-aided program and effectuate public policy by encouraging the building and operating of housing projects for families of moderate income.

(b) Board members are entrusted with the custody of assets and the administrative control of expenditures representing hundreds of thousands of dollars. The custody and control of such sums require each member to ensure that buildings, grounds and other assets are kept up to high standards so that their value is not impaired and that the annual operating expenditures are spent effectively and economically.

(c) Members must exercise judicious control of the premises entrusted in their care, including community rooms and public spaces.

(d) The board shall adopt, and ensure the full implementation of, equal opportunity policies relating to employment and housing in accordance with its responsibility to all of the people of the State of New York.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1725-2.1