Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 9 - EXECUTIVE DEPARTMENTSubtitle S - Division of Housing and Community RenewalChapter IV - State-assisted Housing Constructed By Private EnterpriseSubchapter C - Housing Company ManagementPart 1728 - Budget And Fiscal
Subpart 1728-2 - Accounting And Financial
Section 1728-2.5 - Payment of dividends, income debenture interest or return on equity

N.Y. Comp. Codes R. & Regs. tit. 9 § 1728-2.5

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Current through Register Vol. 46, No. 25, June 18, 2024
Section 1728-2.5 - Payment of dividends, income debenture interest or return on equity

No housing company shall pay any dividends on stock, interest on income debentures or return on equity without the prior written approval of the division. In no event shall approval be granted by the division for an amount greater than the total of two years on any of the following in any one fiscal year: dividends on stock; interest on income debentures; or return on equity.

N.Y. Comp. Codes R. & Regs. Tit. 9 § 1728-2.5