assembly Bill A4388

2013-2014 Legislative Session

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to housing
Feb 04, 2013 referred to housing

Co-Sponsors

Multi-Sponsors

view additional multi-sponsors

A4388 (ACTIVE) - Details

Law Section:
Real Property Law
Laws Affected:
Add Art 11 ยง360 - 364, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3553
2011-2012: A3053
2015-2016: A6395
2017-2018: A3813
2019-2020: A1267
2021-2022: A1623

A4388 (ACTIVE) - Summary

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval.

A4388 (ACTIVE) - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4388

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 4, 2013
                               ___________

Introduced  by  M.  of  A. PERRY -- Multi-Sponsored by -- M. of A. COOK,
  GALEF, HIKIND, HOOPER, LUPARDO, McDONOUGH, TITONE  --  read  once  and
  referred to the Committee on Housing

AN  ACT  to  amend  the  real  property  law, in relation to cooperative
  purchase applications

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Legislative  findings.  The  legislature hereby finds and
declares that residential cooperative purchasers are  subject  to  proc-
esses  and  conditions  that  do  not  also apply to purchasers of other
single family residences. The legislature also finds  that  these  proc-
esses  and  conditions,  at  a minimum, give the appearance and have the
potential to be misused to illegally discriminate against a purchaser of
cooperative housing. Because this state  strongly  opposes  all  illegal
discrimination  and  promotes  fair  housing laws and regulations, it is
essential that the process for purchasing a cooperative dwelling include
additional safeguards to protect against  illegal  discrimination.  This
act is not intended and does not diminish the duty of cooperative boards
to uphold their established fiduciary duties. This act will significant-
ly  improve  the transparency of the cooperative purchase process to the
benefit of all parties involved in the transaction.
  S 2. The real property law is amended by adding a new  article  11  to
read as follows:
                               ARTICLE 11
                          COOPERATIVE PURCHASE
                              APPLICATIONS

SECTION 360. SHORT TITLE.
        361. DEFINITIONS.
        362. PURCHASE APPLICATIONS.
        363. ACTION UPON APPLICATIONS.
        364. PUBLIC POLICY.
  S  360.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
THE "FAIRNESS IN COOPERATIVE HOME OWNERSHIP ACT".