New York Codes, Rules and Regulations › Title 13 - DEPARTMENT OF LAW › Chapter II - SECURITIES TRANSACTIONS AND PERSONNEL › Subchapter B - REAL ESTATE SYNDICATES › Part 23 - OCCUPIED CONDOMINIUMS › Section 23.4 - Transmittal letter and certifications

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
Transmittal letter.
A transmittal letter addressed to the Department of Law
					 that is signed and affirmed by the individual attorney who prepared the
					 offering plan, and containing the following unqualified statements must be
					 submitted with the plan and exhibits (1) at the time the plan is submitted for
					 filing, and (2) immediately prior to its acceptance for filing:
"I am the attorney who prepared the condominium offering
					 plan for the captioned property. I affirm as follows:
Enclosed for filing pursuant to 13 NYCRR Part 23,
Occupied Condominiums
are copies of the offering plan together
					 with the exhibits.
I am fully familiar with the provisions of article 23-A of
					 the General Business Law and the regulations promulgated by the Department of
					 Law in Part 23.
I prepared the attached offering plan and exhibits based on
					 information from the sponsor. I have read all the printed copy submitted to the
					 Department of Law but expressly disclaim any responsibility to have made an
					 independent inspection of the building(s) or property or investigation of the
					 information furnished to me by sponsor.
I have no actual knowledge of any violation of article 23-A
					 of the General Business Law or Part 23 of the regulations promulgated by the
					 Department of Law, nor do I have actual knowledge of any material fact omitted
					 or any untrue statement of any material fact included in the offering
					 plan."
(b)
Certification by sponsor.
Include in Part II of the plan and in the exhibits a
					 certification subscribed and sworn to by the sponsor and sponsor's principals
					 in their capacity as principals, in the following form:
We are the sponsor and the principals of sponsor of the
					 condominium offering plan for the captioned property.
We understand that we have primary responsibility for
					 compliance with the provisions of article 23-A of the General Business Law, the
					 regulations promulgated by the Department of Law in 13 NYCRR Part 23 and such
					 other laws and regulations as may be applicable.
We have read the entire offering plan. We have investigated
					 the facts set forth in the offering plan and the underlying facts. We have
					 exercised due diligence to form a basis for this certification.
We jointly and severally certify that the offering plan
					 does, and that documents submitted hereafter by us which amend or supplement
					 the offering plan will:
(v) set forth
				  the detailed terms of the transaction and be complete, current and accurate;
(ii) afford potential investors,
				  purchasers and participants an adequate basis upon which to found their
				  judgment;
(iii) not omit any
				  material fact;
(iv) not contain any
				  untrue statement of a material fact;
(v) not contain any fraud, deception,
				  concealment, suppression, false pretense or fictitious or pretended purchase or
				  sale;
(vi) not contain any promise
				  or representation as to the future which is beyond reasonable expectation or
				  unwarranted by existing circumstances;
(vii) not contain any representation or
				  statement which is false, where I/we:
(a)
				  knew the truth;
(b) with reasonable
				  effort could have known the truth;
(c) made no reasonable effort to ascertain
				  the truth; or
(d) did not have
				  knowledge concerning the representation or statement made.
This certification is made under penalty of perjury for the
					 benefit of all persons to whom this offer is made. We understand that
					 violations are subject to the civil and criminal penalties of the General
					 Business Law and Penal Law.