Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Sep 13, 2017 | approval memo.6 |
Sep 12, 2017 | signed chap.305 |
Aug 31, 2017 | delivered to governor |
Jun 21, 2017 | returned to assembly passed senate 3rd reading cal.2180 substituted for s6652a |
Jun 21, 2017 | substituted by a8261a ordered to third reading cal.2180 |
Jun 16, 2017 | print number 6652a |
Jun 16, 2017 | amend (t) and recommit to rules |
Jun 09, 2017 | referred to rules |
senate Bill S6652A
Signed By GovernorSponsored By
Martin J. Golden
(R, C, IP) 0 Senate District
Archive: Last Bill Status Via A8261 - Signed by Governor
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
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Votes
Bill Amendments
S6652 - Details
- See Assembly Version of this Bill:
- A8261
- Law Section:
- Not-for-Profit Corporation Law
- Laws Affected:
- Add §519-a, N-PC L; add §727, BC L
S6652 - Sponsor Memo
BILL NUMBER: S6652 TITLE OF BILL : An act to amend the real property law, in relation to conflicts of interests for cooperative housing PURPOSE OR GENERAL IDEA OF BILL : The purpose of this bill is to ensure that cooperative housing boards of directors are aware of certain laws relating to conflicts of interest. SUMMARY OF PROVISIONS : Section one of the bill establishes the requirement that, each year, boards of director receive a copy of applicable state laws governing interested parties or related party transactions, as the case may be. In addition, all cooperative housing corporations incorporated under the Business Corporation Law or the Not-for-Profit Law would need to submit an annual report to the Attorney General identifying any votes on contracts that were subject to such state law. Section two of the bill establishes the effective date. DIFFERENCE BETWEEN ORIGINAL AND AMENDED VERSION (IF APPLICABLE) : N/A
S6652 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6652 2017-2018 Regular Sessions I N S E N A T E June 9, 2017 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property law, in relation to conflicts of interests for cooperative housing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property law is amended by adding a new article 9-C to read as follows: ARTICLE 9-C COOPERATIVE HOUSING SECTION 341. ANNUAL REPORTS FOR CERTAIN TRANSACTIONS REQUIRED. § 341. ANNUAL REPORTS FOR CERTAIN TRANSACTIONS REQUIRED. 1. EVERY COOPERATIVE HOUSING CORPORATION, INCORPORATED PURSUANT TO THE NOT-FOR- PROFIT CORPORATION LAW, SHALL, AT LEAST ONCE EACH YEAR: (A) REQUIRE THAT EACH DIRECTOR, AS DEFINED IN PARAGRAPH SIX OF SUBDI- VISION (A) OF SECTION ONE HUNDRED TWO OF THE NOT-FOR-PROFIT CORPORATION LAW, RECEIVE A COPY OF SECTION SEVEN HUNDRED FIFTEEN OF THE NOT-FOR-PRO- FIT CORPORATION LAW; AND (B) SUBMIT AN ANNUAL REPORT TO THE ATTORNEY GENERAL OF THE STATE OF NEW YORK, WHICH SHALL BE SIGNED BY EACH SUCH DIRECTOR, CONTAINING INFOR- MATION ON ANY CONTRACTS MADE, ENTERED INTO, OR OTHERWISE VOTED ON BY THE BOARD OF DIRECTORS THAT WERE SUBJECT TO SECTION SEVEN HUNDRED FIFTEEN OF THE NOT-FOR-PROFIT CORPORATION LAW. 2. EVERY COOPERATIVE HOUSING CORPORATION, INCORPORATED PURSUANT TO THE BUSINESS CORPORATION LAW, SHALL, AT LEAST ONCE EACH YEAR: (A) REQUIRE THAT EACH DIRECTOR, AS DEFINED IN PARAGRAPH FIVE OF SUBDI- VISION (A) OF SECTION ONE HUNDRED TWO OF THE BUSINESS CORPORATION LAW, RECEIVE A COPY OF SECTION SEVEN HUNDRED THIRTEEN OF THE BUSINESS CORPO- RATION LAW; AND (B) SUBMIT AN ANNUAL REPORT TO THE ATTORNEY GENERAL OF THE STATE OF NEW YORK, WHICH SHALL BE SIGNED BY EACH SUCH DIRECTOR, CONTAINING INFOR- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
S6652A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8261
- Law Section:
- Not-for-Profit Corporation Law
- Laws Affected:
- Add §519-a, N-PC L; add §727, BC L
S6652A (ACTIVE) - Sponsor Memo
BILL NUMBER: S6652A TITLE OF BILL : An act to amend the not-for-profit corporation law and the business corporation law, in relation to conflicts of interests for condominium and cooperative housing PURPOSE OR GENERAL IDEA OF BILL : The purpose of this bill is to ensure that cooperative and condominium housing boards of directors are aware of certain laws relating to conflicts of interest. SUMMARY OF PROVISIONS : Section one of the bill adds a new section to the Not-For-Profit Corporation Law requiring annual reports for cooperative and condominium housing incorporated under such laws to be submitted to the members or the governing board (if there are no members) identifying any votes on contracts that were subject to laws relating to related party transactions. Section two of the bill adds a new section to the Business Corporation Law requiring annual reports for cooperative and condominium housing incorporated under such laws to be submitted to shareholders identifying any votes on contracts that were subject to laws relating to related party transactions.
S6652A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6652--A 2017-2018 Regular Sessions I N S E N A T E June 9, 2017 ___________ Introduced by Sen. GOLDEN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the not-for-profit corporation law and the business corporation law, in relation to conflicts of interests for condominium and cooperative housing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The not-for-profit corporation law is amended by adding a new section 519-a to read as follows: § 519-A. ANNUAL REPORTS FOR CERTAIN TRANSACTIONS REQUIRED. (A) EVERY CONDOMINIUM OR COOPERATIVE HOUSING CORPORATION, INCORPORATED PURSUANT TO THIS CHAPTER, SHALL, AT LEAST ONCE EACH YEAR: (1) REQUIRE THAT EACH DIRECTOR, AS DEFINED IN PARAGRAPH SIX OF SUBDI- VISION (A) OF SECTION ONE HUNDRED TWO OF THIS CHAPTER, RECEIVE A COPY OF SECTION SEVEN HUNDRED FIFTEEN OF THIS CHAPTER; AND (2) PROVIDE AN ANNUAL REPORT TO THE MEMBERS OR TO THE GOVERNING BOARD, IF THERE ARE NO MEMBERS, WHICH SHALL BE SIGNED BY EACH SUCH DIRECTOR, CONTAINING INFORMATION ON ANY CONTRACTS MADE, ENTERED INTO, OR OTHERWISE VOTED ON BY THE BOARD OF DIRECTORS THAT WERE CONSIDERED A RELATED PARTY TRANSACTION PURSUANT TO SECTION SEVEN HUNDRED FIFTEEN OF THIS CHAPTER. (B) THE ANNUAL REPORT REQUIRED BY SUBDIVISION (A) OF THIS SECTION SHALL INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING: (1) A LIST OF ALL CONTRACTS VOTED ON BY THE BOARD OF DIRECTORS, INCLUDING INFORMATION ON THE CONTRACT RECIPIENT, CONTRACT AMOUNT, AND THE PURPOSE OF ENTERING INTO THE CONTRACT; (2) THE RECORD OF EACH MEETING INCLUDING DIRECTOR ATTENDANCE, VOTING RECORDS FOR CONTRACTS, AND HOW EACH DIRECTOR VOTED ON SUCH CONTRACTS; AND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13036-05-7
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