Section 75.29. Foreclosures and judgments

(a)  In  any foreclosure action the commissioner shall be made a party
  defendant. He shall take all steps necessary to protect the interests of
  the  public  therein  and  no  costs  shall  be  awarded  against   him.
  Foreclosures  shall not be decreed unless the court to which application
  is made shall be satisfied that  the  interests  of  the  lienholder  or
  holders cannot be adequately assured except by the sale of the property.
  In  any  such  proceeding,  the court shall be authorized to appoint the
  commissioner as receiver of the property, or to  grant  such  other  and
  further relief as may be reasonable and proper.
    (b) Notwithstanding the foregoing provisions of this section, wherever
  it  shall  appear  that  the New York state housing finance agency shall
  have loaned on a mortgage which is a first lien upon any such  property,
  such  New  York state housing finance agency shall have all the remedies
  available to a mortgagee under the laws of the state of New  York,  free
  from  any  restrictions  contained  in  this  section,  except  that the
  commissioner shall be made a party defendant and that  the  commissioner
  shall  take  all  steps necessary to protect the interests of the public
  and no costs shall be awarded against him.
    (c) In the event of a judgment against a company  in  any  action  not
  pertaining  to the collection of a mortgage indebtedness, there shall be
  no sale of any of the real property of such company  except  upon  sixty
  days'  written notice to the commissioner and the New York state housing
  finance agency. Upon receipt of such notice  the  commissioner  and  the
  agency  shall  take  such steps as in their judgment may be necessary to
  protect the rights of all parties.