New York § 2874-A - 2874-AMortgage loans to eligible secured hospital borrowers
Full text of New York New York Consolidated Laws § 2874-A — 2874-AMortgage loans to eligible secured hospital borrowers, with citation guidance and answers to common questions.
§ 2874-A. 2874-AMortgage loans to eligible secured hospital borrowers
* § 2874-a. Mortgage loans to eligible secured hospital borrowers. Except as specified herein, eligible secured hospital borrowers shall be subject to all of the requirements to which eligible borrowers are subject under this article. Mortgage loans to eligible secured hospital borrowers shall be subject to the following criteria: 1. The medical care facilities finance agency shall not make a mortgage loan to eligible secured hospital borrowers unless the commissioner has recommended the project based on public need, the hospital discloses the financial resources available to it, and the hospital complies with the provisions of article twenty-eight of this chapter. In considering the financial resources available to support a project, the commissioner shall take into account programs designed to offset eligible secured hospital borrowers' past and current unmet bad debt and charity care losses. 2. A mortgage loan to an eligible secured hospital borrower made by the medical care facilities finance agency shall not exceed an amount equal to one hundred percent of the total project costs, which costs shall include all costs associated with the refinancing of indebtedness attributable to unmet bad debt and charity care losses. To ensure the timely repayment of the principal and interest due on the indebtedness relating to such refinancings, the commissioner may authorize reimbursement to eligible secured hospital borrowers for capital related expenses including but not limited to depreciation, rentals and interest on capital debt and may advance the payment of depreciation to such borrowers as needed. * NB Expired December 31, 2015
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 2874-A
What does New York Consolidated Laws § 2874-A cover?
Section 2874-A ("2874-AMortgage loans to eligible secured hospital borrowers") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 2874-A?
A common citation format is "New York Consolidated Laws § 2874-A" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 2874-A apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.