assembly Bill A6395

2015-2016 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

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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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 06, 2016 referred to housing
Mar 23, 2015 referred to housing

Co-Sponsors

Multi-Sponsors

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A6395 (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
2013-2014: A4388
2017-2018: A3813
2019-2020: A1267
2021-2022: A1623

A6395 (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.

A6395 (ACTIVE) - Bill Text download pdf

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

                                  6395

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             March 23, 2015
                               ___________

Introduced  by  M. of A. PERRY, PAULIN, RAIA -- Multi-Sponsored by -- M.
  of A. COOK, GALEF, HIKIND, HOOPER, LUPARDO, McDONOUGH, SCHIMEL, 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".