Senate Bill S7279

Signed By Governor
2017-2018 Legislative Session

Relates to annual reports submitted by condominium and cooperative housing corporations

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Sponsored By

Archive: Last Bill Status - Signed by Governor

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

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2017-S7279 (ACTIVE) - Details

See Assembly Version of this Bill:
A8993
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §519-a, N-PC L; amd §727, BC L (as proposed in S. 6652-A and A. 8261-A)

2017-S7279 (ACTIVE) - Summary

Clarifies the types of condominiums and cooperative housing corporations that shall submit annual reports for certain transactions.

2017-S7279 (ACTIVE) - Sponsor Memo

2017-S7279 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7279
 
                             I N  S E N A T E
 
                              January 5, 2018
                                ___________
 
 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 not-for-profit  corporation  law  and  the  business
   corporation  law, in relation to annual reports submitted by condomin-
   ium and cooperative housing corporations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  (a)  of  section 519-a of the not-for-profit
 corporation law, as added by a chapter of the laws of 2017, amending the
 not-for-profit corporation law and the business corporation law,  relat-
 ing  to  conflicts of interests for condominium and cooperative housing,
 as proposed in legislative  bills  numbers  S.6652-A  and  A.8261-A,  is
 amended to read as follows:
   (a)  [Every  condominium  or cooperative housing corporation, incorpo-
 rated pursuant to this chapter] A CONDOMINIUM CREATED  PURSUANT  TO  THE
 REAL  PROPERTY LAW OR A COOPERATIVE HOUSING CORPORATION CREATED PURSUANT
 TO THE BUSINESS CORPORATION LAW, shall, at least once each year:
   § 2. Subdivision (a) of section 727 of the business  corporation  law,
 as  added  by a chapter of the laws of 2017, amending the not-for-profit
 corporation law and the business corporation law, relating to  conflicts
 of  interests  for  condominium  and cooperative housing, as proposed in
 legislative bills numbers S.6652-A and A.8261-A, is amended to  read  as
 follows:
   (a)  [Every  condominium  or cooperative housing corporation, incorpo-
 rated pursuant to this chapter] A CONDOMINIUM CREATED  PURSUANT  TO  THE
 REAL  PROPERTY LAW OR A COOPERATIVE HOUSING CORPORATION CREATED PURSUANT
 TO THIS CHAPTER, shall, at least once each year:
   § 3. This act shall take effect on the  same  date  and  in  the  same
 manner  as  a  chapter  of the laws of 2017, amending the not-for-profit
 corporation law and the business corporation law, relating to  conflicts
 of  interests  for  condominium  and cooperative housing, as proposed in
 legislative bills numbers S.6652-A and A.8261-A, takes effect.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13036-06-7

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