Mara v. McGoldrick

The order of Special Term and that of the Appellate Division should be reversed, and the determination of the State Rent Administrator reinstated, with costs. Subdivision 4 (par. [b]) of section 4 of the State Residential Rent Law (L. 1946, ch. 274, as amd. by L. 1953, ch. 321), expressly provides that the total of all adjustments “ ordered by the commission ” pursuant to subdivision 4 (par. [a], cl. [1]) of said section (where property yields a net annual return of less than 6%) “ shall not exceed fifteen per centum for any twelve month period ”. This 15% ceiling is limited to subdivision 4…