assembly Bill A3037B

Signed By Governor
2017-2018 Legislative Session

Relates to the right of a member of a homeowners association to review books and records

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


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

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Actions

view actions (18)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 23, 2017 signed chap.343
Oct 11, 2017 delivered to governor
Jun 20, 2017 returned to assembly
passed senate
3rd reading cal.2080
substituted for s6648
Jun 15, 2017 referred to rules
delivered to senate
passed assembly
ordered to third reading rules cal.326
rules report cal.326
reported
Jun 07, 2017 reported referred to rules
Jun 01, 2017 print number 3037b
Jun 01, 2017 amend (t) and recommit to corporations, authorities and commissions
May 15, 2017 print number 3037a
May 15, 2017 amend (t) and recommit to corporations, authorities and commissions
Jan 24, 2017 referred to corporations, authorities and commissions

Co-Sponsors

Multi-Sponsors

A3037 - Details

See Senate Version of this Bill:
S6648
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §621, N-PC L

A3037 - Summary

Allows members of a homeowners association to review books and records and documents related to the expenditure of homeowners association dues.

A3037 - Bill Text download pdf


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

                                  3037

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2017
                               ___________

Introduced  by M. of A. SKOUFIS -- read once and referred to the Commit-
  tee on Corporations, Authorities and Commissions

AN ACT to amend the not-for-profit corporation law,  in  relation  to  a
  member's request to inspect the books and records of the corporation

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

  Section. 1. Subdivision (e)  of  section  621  of  the  not-for-profit
corporation  law,  as  amended  by  chapter  549 of the laws of 2013, is
amended to read as follows:
  (e) Upon the written request of any  person  who  shall  have  been  a
member  of  record  for  at  least  six months immediately preceding his
request, or of any person holding, or thereunto authorized in writing by
the holders of, at least five percent of any class  of  the  outstanding
capital  certificates,  the  corporation shall provide to such member an
annual balance sheet and profit and loss statement or a financial state-
ment performing a  similar  function  for  the  preceding  fiscal  year,
INCLUDING,  BUT NOT LIMITED TO, INVOICES, LEDGERS, BANK ACCOUNTS, RECON-
CILIATIONS, AND CONTRACTS and, if any interim balance  sheet  or  profit
and  loss  or  similar  financial  statement has been distributed to its
members or otherwise made available to the public, the most recent  such
interim  balance sheet or profit and loss or similar financial statement
INCLUDING, BUT NOT LIMITED TO, INVOICES, LEDGERS, BANK ACCOUNTS,  RECON-
CILIATIONS, AND CONTRACTS. The corporation shall be allowed a reasonable
time to prepare such annual balance sheet and profit and loss or similar
financial statement.
  § 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06281-01-7

Co-Sponsors

Multi-Sponsors

A3037A - Details

See Senate Version of this Bill:
S6648
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §621, N-PC L

A3037A - Summary

Allows members of a homeowners association to review books and records and documents related to the expenditure of homeowners association dues.

A3037A - Bill Text download pdf


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

                                 3037--A

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2017
                               ___________

Introduced  by  M. of A. SKOUFIS, HOOPER, SEPULVEDA, COOK -- Multi-Spon-
  sored by -- M. of A. LOPEZ -- read once and referred to the  Committee
  on  Corporations, Authorities and Commissions -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN  ACT  to  amend  the not-for-profit corporation law, in relation to a
  member of a homeowners association's request to inspect the books  and
  records of the homeowners association's governing board

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

  Section. 1. Paragraph (e) of section 621 of the not-for-profit  corpo-
ration law, as amended by chapter 549 of the laws of 2013, is amended to
read as follows:
  (e)  Upon  the  written  request  of  any person who shall have been a
member of record for at least six months immediately  preceding  his  OR
HER  request, or of any person holding, or thereunto authorized in writ-
ing by the holders of, at  least  five  percent  of  any  class  of  the
outstanding  capital certificates, the corporation shall provide to such
member an annual balance sheet and profit and loss statement or a finan-
cial statement performing a similar function for  the  preceding  fiscal
year,  and,  if  any interim balance sheet or profit and loss or similar
financial statement has been distributed to  its  members  or  otherwise
made available to the public, the most recent such interim balance sheet
or  profit  and  loss  or similar financial statement.   The corporation
shall be allowed a reasonable time to prepare such annual balance  sheet
and  profit  and  loss  or similar financial statement.   MEMBERS OF ANY
HOMEOWNERS ASSOCIATION DULY FILED WITH THE OFFICE OF THE ATTORNEY GENER-
AL SHALL ALSO BE ENTITLED TO REVIEW,  UPON  REQUEST  TO  THE  HOMEOWNERS
ASSOCIATION'S  GOVERNING BOARD, INVOICES, LEDGERS, BANK ACCOUNTS, RECON-
CILIATIONS, CONTRACTS, AND ANY DOCUMENTS RELATED TO THE  EXPENDITURE  OF
HOMEOWNERS ASSOCIATION DUES.
  § 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

A3037B (ACTIVE) - Details

See Senate Version of this Bill:
S6648
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §621, N-PC L

A3037B (ACTIVE) - Summary

Allows members of a homeowners association to review books and records and documents related to the expenditure of homeowners association dues.

A3037B (ACTIVE) - Bill Text download pdf


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

                                 3037--B

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 24, 2017
                               ___________

Introduced  by  M. of A. SKOUFIS, HOOPER, SEPULVEDA, COOK -- Multi-Spon-
  sored by -- M. of A. LOPEZ -- read once and referred to the  Committee
  on  Corporations, Authorities and Commissions -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee  --  again  reported  from  said  committee with amendments,
  ordered reprinted as amended and recommitted to said committee

AN ACT to amend the not-for-profit corporation law, in relation  to  the
  right  of  a  member  of  a homeowners association to review books and
  records

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

  Section  1.  Section  621  of  the  not-for-profit  corporation law is
amended by adding a new paragraph (e-1) to read as follows:
  (E-1) IN ADDITION TO THOSE DOCUMENTS DESCRIBED  IN  PARAGRAPH  (E)  OF
THIS  SECTION, MEMBERS OF A HOMEOWNERS ASSOCIATION INCORPORATED PURSUANT
TO THE PROVISIONS OF THIS CHAPTER SHALL ALSO BE ENTITLED TO REVIEW, UPON
REQUEST TO  THE  HOMEOWNERS  ASSOCIATION'S  GOVERNING  BOARD,  INVOICES,
LEDGERS,  BANK  ACCOUNTS,  RECONCILIATIONS, CONTRACTS, AND ANY DOCUMENTS
RELATED TO THE EXPENDITURE OF HOMEOWNERS ASSOCIATION DUES.
  § 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06281-05-7