New York § 31-B - 31-BAssignment or pledge of tenant cooperator's shares
Full text of New York New York Consolidated Laws § 31-B — 31-BAssignment or pledge of tenant cooperator's shares, with citation guidance and answers to common questions.
§ 31-B. 31-BAssignment or pledge of tenant cooperator's shares
§ 31-b. Assignment or pledge of tenant cooperator's shares. Notwithstanding any other provision of law, a tenant cooperator's shares in a mutual company may be assigned or pledged as collateral for the purpose of securing a loan for the purchase of such shares. The commissioner or supervising agency, as the case may be, shall promulgate regulations which provide that in the event of a default of such loan, such shares may be resold, and the dwelling accommodations represented by such shares may be occupied, only in accordance with the provisions of this article.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 31-B
What does New York Consolidated Laws § 31-B cover?
Section 31-B ("31-BAssignment or pledge of tenant cooperator's shares") 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 § 31-B?
A common citation format is "New York Consolidated Laws § 31-B" (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 § 31-B 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.