§ 75.25 Supervision and regulation.\n (a) The commissioner may from time to time make, alter, amend, and\nrepeal rules and regulations for the supervision, examination,\nregulation, and audit of companies and for carrying into effect the\nprovisions and purposes of this article, and each company shall submit\nan annual report of its operations to the commissioner, and the New York\nstate housing finance agency or a lending institution if the mortgage\nloan was received from such lending institution who may examine and\naudit the books and records of the company at any time.\n (b) The commissioner and the department of mental hygiene shall have\npower to act for and in behalf of the agency in servicing the mortgage\nloans of the agency, and to perform such functions and services in\nconnection with the making, servicing, and collection of such loans as\nshall be requested by the agency.\n (c) Notwithstanding any inconsistent provision of law, general or\nspecial, the health and mental hygiene facilities improvement\ncorporation is hereby authorized and empowered to render such services\nas may be requested by the commissioner in the performance of his\nduties, powers, and functions pursuant to the provisions of this\narticle. The commissioner shall reimburse the health and mental hygiene\nfacilities improvement corporation for the actual and necessary cost of\nall services so performed.\n (d) 1. The commissioner and the department of mental hygiene may, with\nrespect to any project of which the New York state housing finance\nagency has acquired the fee or otherwise, enter into an agreement with\nsaid agency subject to the approval of the director of the budget, for\nthe department of mental hygiene, as provided in paragraph (two) hereof,\nto operate the said project in a manner consistent with the purposes of\nthis article. In such event, the commissioner, on behalf of the\ndepartment of mental hygiene, shall have the power to use any available\nfunds to pay all operating expenses and to comply with all the terms and\nprovisions of the mortgage, as though the mortgage had not been\nforeclosed, and to comply with the provisions of this article.\n 2. Subject to the provisions of the agreement with said agency, the\ncommissioner may contract with any person, firm, or corporation which he\ndeems qualified to operate and manage such project and to perform such\nduties and functions as he may deem necessary.\n
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