Upon application made in accordance with the requirements of this section, the Department of Law may, in its discretion, issue a "no-action letter" stating that it will not take any enforcement action because the transaction described in the application does not require the filing of an offering plan in compliance with section 352-e of the General Business Law. A no-action letter may be issued where the Department of Law determines that the filing of an offering plan pursuant to General Business Law section 352-e is not necessary to effectuate the purposes of General Business Law article 23-A or to protect the public interest.
"I am the attorney who prepared the no-action application for the captioned property. I affirm as follows:
Enclosed for filing pursuant to Section 22.8 of 13 NYCRR Part 22 is an application for a no-action letter for the captioned property.
I am fully familiar with the provisions of Article 23-A of the General Business Law and the regulations promulgated by the Attorney General in Part 22.
I prepared (or reviewed) all legal documents necessary to form an HOA and, in my opinion, the HOA is duly organized, validly existing and in good standing. [If the HOA is not in existence at the time the application is submitted, state that counsel will cause the HOA to be formed in conformity with applicable law.] I have prepared the application based on information from the sponsor. I expressly disclaim any responsibility to have made an independent inspection of the 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 22 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 a material fact included in the application."
N.Y. Comp. Codes R. & Regs. Tit. 13 § 22.8