Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to judiciary |
Jun 11, 2021 |
referred to judiciary |
Assembly Bill A8112
2021-2022 Legislative Session
Sponsored By
ROSENTHAL D
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Andrew Hevesi
2021-A8112 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6661
- Current Committee:
- Assembly Judiciary
- Law Section:
- Cooperative Corporations Law
- Laws Affected:
- Add §78, Coop Corps L
2021-A8112 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8112 2021-2022 Regular Sessions I N A S S E M B L Y June 11, 2021 ___________ Introduced by M. of A. D. ROSENTHAL -- read once and referred to the Committee on Judiciary AN ACT to amend the cooperative corporations law, in relation to prohib- iting board members of a cooperative housing corporation to serve as the listing agent for the co-op associated with their board status in a real estate transaction THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The cooperative corporations law is amended by adding a new section 78 to read as follows: § 78. COOPERATIVE HOUSING CORPORATIONS; BOARD MEMBERS PROHIBITED FROM BEING LISTING AGENTS. 1. FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "COOPERATIVE HOUSING CORPORATION" MEANS A CORPORATION FORMED PURSUANT TO THIS CHAPTER OR ARTICLE FOUR OF THE BUSINESS CORPORATION LAW THAT OWNS OR LEASES RESIDENTIAL PREMISES AND OPERATES THE SAME ON A COOPERATIVE BASIS. (B) "MEMBER" MEANS A NATURAL PERSON HOLDING A MEMBERSHIP IN A COOPER- ATIVE HOUSING CORPORATION, WHETHER EVIDENCED BY A CERTIFICATE OF MEMBER- SHIP OR BY A CERTIFICATE OF STOCK OR BY OTHER AUTHORIZED MEANS OF IDEN- TIFICATION. 2. NO COOPERATIVE HOUSING CORPORATION SHALL PERMIT AN INDIVIDUAL SERV- ING ON THE BOARD OF DIRECTORS OF SUCH CORPORATION TO SERVE SIMULTANEOUS- LY AS A LISTING AGENT FOR THE SALE OF ANY DWELLING UNIT LOCATED ON THE PREMISES OF SUCH COOPERATIVE HOUSING CORPORATION. 3. ANY MEMBER SHALL BE PERMITTED TO CHOOSE A LISTING AGENT OF HIS OR HER CHOOSING FOR THE PURPOSES OF SELLING HIS OR HER DWELLING UNIT LOCATED ON THE PREMISES OF A COOPERATIVE HOUSING CORPORATION. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11378-01-1
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