§ 12-b. Refunds. Moneys received by the state division of housing or
the commissioner of housing pursuant to this chapter and the private
housing finance law or under any agreement prior to July first, nineteen
hundred sixty-one may be refunded: (a) where such moneys were not
required by law or the commissioner's rules or regulations; (b) where
such moneys were in excess of the amounts that may be required by law or
as fixed by the commissioner pursuant to law or the commissioner's rules
or regulations. Any such moneys received after July first, nineteen
hundred sixty-one shall not be so refunded unless application for such
refund has been made within three years after its receipt by the state
division of housing.