N.Y. Comp. Codes R. & Regs. tit. 9 § 1647-2.3
Current through Register Vol. 46, No. 25, June 18, 2024
The reserve accumulated shall be available to meet vacancy and collection losses in any calendar quarter in which the actual losses exceed an amount equal to three per cent of the total dwelling rent schedule for such quarter. In any such quarter the reserve shall be drawn upon to meet such excesses to the extent of the balance available in the reserve.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1647-2.3