Defendant is a housing corporation and previously organized and operating as a limited-profit housing company pursuant to the Mitchell-Lama Law (Private Housing Finance Law art II) from 1970 until at least September 10, 2015 when it completed the process of dissolution and reconstitution as a market-rate housing corporation no longer subject to the Mitchell-Lama Law. The offering plan defined shareholders who could exchange their shares in the dissolved limited-profit housing...
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