Section 75.25. Supervision and regulation

(a)  The  commissioner  may  from time to time make, alter, amend, and
  repeal  rules  and  regulations  for   the   supervision,   examination,
  regulation,  and  audit  of  companies  and for carrying into effect the
  provisions and purposes of this article, and each company  shall  submit
  an annual report of its operations to the commissioner, and the New York
  state  housing  finance  agency or a lending institution if the mortgage
  loan was received from such lending  institution  who  may  examine  and
  audit the books and records of the company at any time.
    (b)  The  commissioner and the department of mental hygiene shall have
  power to act for and in behalf of the agency in servicing  the  mortgage
  loans  of  the  agency,  and  to  perform such functions and services in
  connection with the making, servicing, and collection of such  loans  as
  shall be requested by the agency.
    (c)  Notwithstanding  any  inconsistent  provision  of law, general or
  special,  the  health  and   mental   hygiene   facilities   improvement
  corporation  is  hereby authorized and empowered to render such services
  as may be requested by  the  commissioner  in  the  performance  of  his
  duties,  powers,  and  functions  pursuant  to  the  provisions  of this
  article. The commissioner shall reimburse the health and mental  hygiene
  facilities  improvement corporation for the actual and necessary cost of
  all services so performed.
    (d) 1. The commissioner and the department of mental hygiene may, with
  respect to any project of which  the  New  York  state  housing  finance
  agency  has  acquired the fee or otherwise, enter into an agreement with
  said agency subject to the approval of the director of the  budget,  for
  the department of mental hygiene, as provided in paragraph (two) hereof,
  to  operate the said project in a manner consistent with the purposes of
  this article.  In  such  event,  the  commissioner,  on  behalf  of  the
  department  of mental hygiene, shall have the power to use any available
  funds to pay all operating expenses and to comply with all the terms and
  provisions of  the  mortgage,  as  though  the  mortgage  had  not  been
  foreclosed, and to comply with the provisions of this article.
    2.  Subject  to  the provisions of the agreement with said agency, the
  commissioner may contract with any person, firm, or corporation which he
  deems qualified to operate and manage such project and to  perform  such
  duties and functions as he may deem necessary.