Building Mortgages in Co-ops vs Condos

I'll wait for more knowledgable people to comment on any legal limits or restrictions on a condo's ability to borrow vs. a coop's, but I had heard that condos can indeed get underlying mortgages. Similarly, condos seem to have a lot more ability to pick buyers, limit subletting, and generally meddle with your life, than is popularly believed.

I've heard that condo boards have first right of refusal, but unless the board is willing to pay the same price as that buyer, they can't reject him.

I'm curious about New York City or State law on subletting policies in condos. In my own building, which is condos, I've been told that you can't sublet more than twice per year. However, people say things all the time assertively, to convince you that it's true, even if strictly speaking the law might be unclear on the matter.

I'm also curious to know, from a legal perspective, whether condo House Rules are enforceable.