S T A T E   O F   N E W   Y O R K
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                                  6870

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              April 8, 2015
                               ___________

Introduced  by  M.  of  A.  ROSENTHAL  --  read once and referred to the
  Committee on Housing

AN ACT to amend the cooperative corporations law and the  not-for-profit
  corporation  law,  in  relation to requiring the board of directors of
  residential cooperative corporations and  not-for-profit  corporations
  to  provide  members,  stockholders, and delegates with changes to the
  by-laws in writing within ten days of adoption; in relation to notifi-
  cation to tenants of changes affecting occupancy or the rules  of  the
  building

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

  Section 1. Section 16 of the cooperative corporations law  is  amended
to read as follows:
  S  16.  By-laws. 1. The by-laws may provide for their amendment by the
board of directors; but any amendment adopted  by  the  board  shall  be
reported  to  the annual meeting of the corporation and, if not affirma-
tively approved thereat, shall cease to be in  effect.  By-laws  may  be
adopted,  repealed  or  amended on the affirmative vote of two-thirds of
the members, stockholders or delegates voting thereon at a meeting  held
after  due  written  notice  setting  forth  the proposed action and the
purpose of the meeting.
  2. IN  THE  CASE  OF  RESIDENTIAL  COOPERATIVE  CORPORATIONS,  CHANGES
INCLUDING  THE ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD
OF DIRECTORS SHALL BE PROVIDED TO THE MEMBERS, STOCKHOLDERS, AND  DELEG-
ATES OF SUCH CORPORATION IN WRITING WITHIN TEN DAYS OF SUCH ADOPTION.
  S  2.    The  cooperative  corporations law is amended by adding a new
section 78 to read as follows:
  S 78. NOTIFICATION TO TENANTS. MEMBERS, STOCKHOLDERS AND DELEGATES WHO
POSSESS UNITS IN A  RESIDENTIAL  COOPERATIVE  CORPORATION  SHALL  NOTIFY
TENANTS  WITHIN  TEN  DAYS  OF  RECEIPT OF NOTIFICATION OF THE ADOPTION,
AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD OF DIRECTORS PURSUANT TO

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06920-03-5
              

A. 6870                             2

SUBDIVISION TWO OF SECTION SIXTEEN OF THIS CHAPTER,  WHERE  SUCH  CHANGE
WOULD HAVE A DIRECT EFFECT ON THE TENANT'S OCCUPANCY OR THE RULES OF THE
BUILDING.
  S  3.  Section 602 of the not-for-profit corporation law is amended by
adding a new paragraph (g) to read as follows:
  (G) IN THE CASE OF RESIDENTIAL  NOT-FOR-PROFIT  CORPORATIONS,  CHANGES
INCLUDING  THE ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD
OF DIRECTORS SHALL BE PROVIDED TO THE MEMBERS, STOCKHOLDERS, AND  DELEG-
ATES OF SUCH CORPORATION IN WRITING WITHIN TEN DAYS OF SUCH ADOPTION.
  S  4.  The  not-for-profit  corporation law is amended by adding a new
section 624 to read as follows:
  S 624. NOTIFICATION TO TENANTS. MEMBERS,  STOCKHOLDERS  AND  DELEGATES
WHO  POSSESS  UNITS  IN  A  RESIDENTIAL NOT-FOR-PROFIT CORPORATION SHALL
NOTIFY TENANTS WITHIN  TEN  DAYS  OF  RECEIPT  OF  NOTIFICATION  OF  THE
ADOPTION,  AMENDMENT  OR REPEAL OF THE BY-LAWS BY THE BOARD OF DIRECTORS
PURSUANT TO PARAGRAPH (G) OF SECTION SIX HUNDRED TWO  OF  THIS  ARTICLE,
WHERE  SUCH  CHANGE WOULD HAVE A DIRECT EFFECT ON THE TENANT'S OCCUPANCY
OR THE RULES OF THE BUILDING.
  S 5. This act shall take effect on the sixtieth  day  after  it  shall
have become a law.