|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to housing, construction and community development|
|Jan 09, 2013||referred to housing, construction and community development|
senate Bill S54
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S54 - Details
S54 - Summary
Provides that the sponsor of a cooperative apartment building or condominium units may not continue to sit on the board or to vote after the transfer to the cooperative corporation or condominium ownership.
S54 - Sponsor Memo
BILL NUMBER:S54 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
S54 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 54 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. PERALTA -- 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 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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