| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jun 23, 2010 |
print number 1659a |
| Jun 23, 2010 |
amend and recommit to housing, construction and community development |
| Jan 06, 2010 |
referred to housing, construction and community development |
| Feb 04, 2009 |
referred to housing, construction and community development |
Senate Bill S1659A
2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee
Actions
Bill Amendments
2009-S1659 - Details
- See Assembly Version of this Bill:
- A537
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- General Business Law
- Laws Affected:
- Amd §§352-eee & 352-eeee, Gen Bus L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
A796
2013-2014: A305
2015-2016: A311
2017-2018: A3901
2019-2020: A3171
2021-2022: A2356
2023-2024: A1724
2009-S1659 - Summary
Requires that the board of directors or board of managers of a converted cooperative or condominium, as the case may be, must be comprised of a majority of members elected by shareholders or owners in occupancy so that control of the converted cooperative or condominium is turned over to the unit owners as soon as possible; applies only to plans of 20 or more units.
2009-S1659 - Sponsor Memo
BILL NUMBER: S1659
TITLE OF BILL :
An act to amend the general business law, in relation to plans for
conversions of residences to cooperative or condominium ownership
PURPOSE :
The purpose of this bill is to assure that control of the converted
cooperative or condominium be turned over to the unit owners as soon
as possible.
SUMMARY OF PROVISIONS :
Adds a new paragraph (g) to section 352-eee, and to subdivision two of
352-eeee of the general business law, which provides that if twenty or
more units are proposed in such plan, that a majority of the Board of
Directors shall be elected by the actual occupants of a building when
51 % of the shares or units have been sold, or regardless of the
number of units sold, within 15 months from the time the plan has been
declared effective, whichever comes sooner.
JUSTIFICATION :
2009-S1659 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1659
2009-2010 Regular Sessions
I N S E N A T E
February 4, 2009
___________
Introduced by Sen. ESPADA -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
AN ACT to amend the general business law, in relation to plans for
conversions of residences to cooperative or condominium ownership
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 2 of section 352-eee of the general business
law is amended by adding a new paragraph (g) to read as follows:
(G) THE PLAN PROVIDES, IF TWENTY OR MORE UNITS ARE PROPOSED IN SUCH
PLAN, THAT A MAJORITY OF THE BOARD OF DIRECTORS OR MANAGERS SHALL BE
ELECTED BY THE SHAREHOLDERS OR UNIT OWNERS WHO ARE IN OCCUPANCY UPON THE
FIRST TO OCCUR OF ANY OF THE FOLLOWING:
(I) FIFTY-ONE PERCENT OF THE SHARES OR UNITS HAVE BEEN SOLD;
(II) REGARDLESS OF THE NUMBER OF UNSOLD SHARES OR UNITS HELD BY THE
SPONSOR OR A SUCCESSOR IN INTEREST, WITHIN FIFTEEN MONTHS FROM THE TIME
THE PLAN IS DECLARED EFFECTIVE; OR
(III) REGARDLESS OF THE NUMBER OF UNSOLD SHARES OR UNITS HELD BY THE
SPONSOR OR A SUCCESSOR IN INTEREST, WITHIN FIFTEEN MONTHS OF THE EFFEC-
TIVE DATE OF THIS PARAGRAPH.
S 2. Subdivision 2 of section 352-eeee of the general business law is
amended by adding a new paragraph (g) to read as follows:
(G) THE PLAN PROVIDES, IF TWENTY OR MORE UNITS ARE PROPOSED IN SUCH
PLAN, THAT A MAJORITY OF THE BOARD OF DIRECTORS OR MANAGERS SHALL BE
ELECTED BY THE SHAREHOLDERS OR UNIT OWNERS WHO ARE IN OCCUPANCY UPON THE
FIRST TO OCCUR OF ANY OF THE FOLLOWING:
(I) FIFTY-ONE PERCENT OF THE SHARES OR UNITS HAVE BEEN SOLD;
(II) REGARDLESS OF THE NUMBER OF UNSOLD SHARES OR UNITS HELD BY THE
SPONSOR OR A SUCCESSOR IN INTEREST, WITHIN FIFTEEN MONTHS FROM THE TIME
THE PLAN IS DECLARED EFFECTIVE; OR
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02591-01-9
2009-S1659A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A537
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- General Business Law
- Laws Affected:
- Amd §§352-eee & 352-eeee, Gen Bus L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012:
A796
2013-2014: A305
2015-2016: A311
2017-2018: A3901
2019-2020: A3171
2021-2022: A2356
2023-2024: A1724
2009-S1659A (ACTIVE) - Summary
Requires that the board of directors or board of managers of a converted cooperative or condominium, as the case may be, must be comprised of a majority of members elected by shareholders or owners in occupancy so that control of the converted cooperative or condominium is turned over to the unit owners as soon as possible; applies only to plans of 20 or more units.
2009-S1659A (ACTIVE) - Sponsor Memo
BILL NUMBER:S1659A
TITLE OF BILL:
An act to amend the general business law, in relation to plans for
conversions of residences to cooperative or condominium ownership
PURPOSE:
The purpose of this bill is to assure that control of the converted
cooperative or condominium be turned over to the unit owners as soon as
possible.
SUMMARY OF PROVISIONS:
Adds a new paragraph (g) to section 352-eee, and to subdivision two of
352-eeee of the general business law, which provides that if twenty or
more units are proposed in such plan, that a majority of the Board of
Directors shall be elected by the actual occupants of a building when
51% of the shares or units have been sold, or regardless of the number
of units sold, within 36 months from the time the plan has been declared
effective, whichever comes sooner.
JUSTIFICATION:
The future of a co-op or condo building should be in the hands of the
2009-S1659A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
1659--A
2009-2010 Regular Sessions
I N S E N A T E
February 4, 2009
___________
Introduced by Sen. ESPADA -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development -- recommitted to the Committee on Housing,
Construction and Community Development in accordance with Senate Rule
6, sec. 8 -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the general business law, in relation to plans for
conversions of residences to cooperative or condominium ownership
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 2 of section 352-eee of the general business
law is amended by adding a new paragraph (g) to read as follows:
(G) THE PLAN PROVIDES, IF TWENTY OR MORE UNITS ARE PROPOSED IN SUCH
PLAN, THAT A MAJORITY OF THE BOARD OF DIRECTORS OR MANAGERS SHALL BE
ELECTED BY THE SHAREHOLDERS OR UNIT OWNERS WHO ARE IN OCCUPANCY UPON THE
FIRST TO OCCUR OF ANY OF THE FOLLOWING:
(I) FIFTY-ONE PERCENT OF THE SHARES OR UNITS HAVE BEEN SOLD;
(II) REGARDLESS OF THE NUMBER OF UNSOLD SHARES OR UNITS HELD BY THE
SPONSOR OR A SUCCESSOR IN INTEREST, WITHIN THIRTY-SIX MONTHS FROM THE
TIME THE PLAN IS DECLARED EFFECTIVE; OR
(III) REGARDLESS OF THE NUMBER OF UNSOLD SHARES OR UNITS HELD BY THE
SPONSOR OR A SUCCESSOR IN INTEREST, WITHIN THIRTY-SIX MONTHS OF THE
EFFECTIVE DATE OF THIS PARAGRAPH.
S 2. Subdivision 2 of section 352-eeee of the general business law is
amended by adding a new paragraph (g) to read as follows:
(G) THE PLAN PROVIDES, IF TWENTY OR MORE UNITS ARE PROPOSED IN SUCH
PLAN, THAT A MAJORITY OF THE BOARD OF DIRECTORS OR MANAGERS SHALL BE
ELECTED BY THE SHAREHOLDERS OR UNIT OWNERS WHO ARE IN OCCUPANCY UPON THE
FIRST TO OCCUR OF ANY OF THE FOLLOWING:
(I) FIFTY-ONE PERCENT OF THE SHARES OR UNITS HAVE BEEN SOLD;
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02591-03-0
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