New York § 86 - 86Reduction of rentals in housing company projects
Full text of New York New York Consolidated Laws § 86 — 86Reduction of rentals in housing company projects, with citation guidance and answers to common questions.
§ 86. 86Reduction of rentals in housing company projects
§ 86. Reduction of rentals in housing company projects. If in any calendar or fiscal year the gross receipts of any housing company should exceed the payments or charges specified in section eighty-five, the sums necessary to pay distributions or interest accrued or unpaid on any shares, income debentures or other capital, and the authorized transfer to surplus, the balance shall, unless the board of directors, the partners or the trustees, as the case may be, with the approval of the commissioner shall deem such balance too small for the purpose, be applied to the reduction of rentals, for such year or years as the commissioner may specify, or to the further reduction of any mortgage indebtedness, or both, as the commissioner may determine.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 86
What does New York Consolidated Laws § 86 cover?
Section 86 ("86Reduction of rentals in housing company projects") 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 § 86?
A common citation format is "New York Consolidated Laws § 86" (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 § 86 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.