|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 12, 2012||committee discharged and committed to rules|
|Mar 08, 2012||notice of committee consideration - requested|
|Jan 04, 2012||referred to consumer protection|
|Jan 05, 2011||referred to consumer protection|
senate Bill S604
Archive: Last Bill Status - In Senate Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S604 - Details
S604 - Sponsor Memo
BILL NUMBER:S604 TITLE OF BILL: An act to amend the general business law, in relation to prohibiting a sponsor from becoming a director or voting on the board after a building has been converted to a cooperative apartment building or condominium ownership PURPOSE: To prevent the landlord of an apartment or building that has been converted to a co-op from becoming a director or voting member on the co-op board. SUMMARY OF PROVISIONS: Amends the General Business Law by adding a new paragraph (vi) to subdivision 1 of section 352-ee, paragraph (g) to subdivision 2 of section 352-eee, and paragraph (g) to subdivision 2 of section 352-eeee. JUSTIFICATION: This bill would eliminate the possibility of landlords holding a seat on the board of directors or be allowed to vote any shares after conversion to cooperative ownership. Presently there are no laws that state that once a landlord sells apartments from his or her apartment building, thus establishing a cooperative apartment building, he or
S604 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 604 2011-2012 Regular Sessions I N S E N A T E (PREFILED) January 5, 2011 ___________ Introduced by Sen. PERALTA -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection AN ACT to amend the general business law, in relation to prohibiting a sponsor from becoming a director or voting on the board after a build- ing has been converted to a cooperative apartment building or condo- minium ownership THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs (iv) and (v) of subdivision 1 of section 352-ee of the general business law, as added by chapter 509 of the laws of 1978, are amended and a new paragraph (vi) is added to read as follows: (iv) a statement, satisfactory to the attorney general, that it is the obligation of the sponsor to complete all alterations and improvements to individual spaces or dwelling units in compliance with such approved plans within the time specified in the plan or, if the sponsor does not undertake such obligation, that it is the obligation of the individual owners of shares in the cooperative corporation or of condominium units, under the supervision of the cooperative corporation or, in the case of a condominium, under the supervision of the board of managers, to complete such alterations and improvements within the time specified in the plan; [and] (v) a statement that a permanent certificate of occupancy is required for permanent residential use of the premises, that a temporary certif- icate of occupancy may only be renewed for a total period of two years from the date of its original issuance and that, if the temporary certificate of occupancy shall have expired prior to obtaining a perma- nent certificate of occupancy, residential occupancy of the premises will be in violation of the multiple dwelling law, subjecting the occu- pants and the cooperative corporation and its board of directors or, in the case of a condominium, the unit owners and board of managers, to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.