Assembly Bill A1267D

2019-2020 Legislative Session

Requires a uniform processes for considering applications to purchase condominiums or cooperatives

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Archive: Last Bill Status - On Floor Calendar

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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Actions

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Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 20, 2020	amended on third reading 1267d
Jan 08, 2020	ordered to third reading cal.63
Jun 14, 2019	amended on third reading 1267c
Jun 13, 2019	ordered to third reading rules cal.237 rules report cal.237 reported
Jun 05, 2019	amend and recommit to rules 1267b
Jun 04, 2019	reported referred to rules
May 31, 2019	print number 1267a
May 31, 2019	amend (t) and recommit to housing
Jan 14, 2019	referred to housing

Bill Amendments

Original

D (Active)

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multi-Sponsors

2019-A1267 - Details

See Senate Version of this Bill:: S6408
Law Section:: Not-for-Profit Corporation Law
Laws Affected:: Add §519-b, N-PC L; add §728, BC L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A3553
2011-2012: A3053
2013-2014: A4388
2015-2016: A6395
2017-2018: A3813
2021-2022: A1623, S2874
2023-2024: A6647
2025-2026: A7183

2019-A1267 - Summary

Requires a uniform process for considering applications to purchase condominiums or cooperatives.

2019-A1267 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1267
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing
 
 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.
   § 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.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06684-01-9

 A. 1267                             2
 
   §  360.  SHORT  TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "FAIRNESS IN COOPERATIVE HOME OWNERSHIP ACT".
   § 361. DEFINITIONS. AS USED IN THIS ARTICLE, UNLESS THE CONTEXT OTHER-
 WISE REQUIRES:
   1. "APPLICATION" MEANS THE STANDARDIZED FORM DEVELOPED AND UTILIZED BY
 A  COOPERATIVE  FOR  THE  ACQUISITION  OF CERTIFICATES OF STOCK OR OTHER
 EVIDENCE OF OWNERSHIP OF AN INTEREST IN THE COOPERATIVE.
   2. "COOPERATIVE" MEANS REAL PROPERTY WHICH IS  IMPROVED  AND  USED  OR
 OCCUPIED,  OR  INTENDED TO BE USED OR OCCUPIED, AS THE HOME OR RESIDENCE
 OF ONE OR MORE PERSONS, WHICH IS SUBJECT TO  ARTICLE  TWENTY-THREE-A  OF
 THE  GENERAL BUSINESS LAW, AND SHALL INCLUDE ITS COOPERATIVE MANAGEMENT,
 COOPERATIVE TENANTS,  COOPERATIVE  SHAREHOLDERS  OR  ANY  APPOINTEES  OR
 SUCCESSORS IN INTEREST THEREOF.
   3.  "PERSON" MEANS A NATURAL PERSON, CORPORATION, PARTNERSHIP, ASSOCI-
 ATE, TRUSTEE, LIMITED LIABILITY COMPANY OR OTHER LEGAL ENTITY.
   4. "PURCHASE" MEANS THE ACQUISITION OF CERTIFICATES OF STOCK OR  OTHER
 EVIDENCE OF OWNERSHIP OF AN INTEREST IN A COOPERATIVE.
   5. "UNIT" MEANS A PART OF THE COOPERATIVE PROPERTY USED OR INTENDED TO
 BE USED FOR THE HOME OR RESIDENCE OF ONE OR MORE PERSONS.
   § 362. PURCHASE APPLICATIONS. EVERY COOPERATIVE SHALL DEVELOP A STAND-
 ARDIZED  FORM  APPLICATION  AND  SHALL  PROVIDE  SUCH APPLICATION TO ANY
 PERSON SEEKING TO PURCHASE A UNIT IN SUCH COOPERATIVE. EVERY APPLICATION
 SHALL SET FORTH THE REQUIREMENTS FOR PURCHASE OF A UNIT  AND  INCLUDE  A
 NOTICE TO THE APPLICANT ADVISING HOW THEY MAY ACCESS INFORMATION ON FAIR
 HOUSING  AND  ANTI-DISCRIMINATION LAWS. SUCH NOTICE SHALL BE PROMULGATED
 BY THE DIVISION OF HUMAN RIGHTS.
   § 363. ACTION UPON APPLICATIONS. 1. WITHIN TEN DAYS OF  RECEIPT  OF  A
 COMPLETED  APPLICATION, THE COOPERATIVE SHALL PROVIDE THE APPLICANT WITH
 WRITTEN ACKNOWLEDGMENT OF RECEIPT OF THE APPLICATION AND, IF APPLICABLE,
 WRITTEN NOTICE OF ANY WAY IN WHICH THE  APPLICATION  IS  INCOMPLETE.  AN
 APPLICATION  SHALL  BE DEEMED COMPLETE UPON THE FAILURE OF A COOPERATIVE
 TO TIMELY PROVIDE THE APPLICANT WITH SUCH NOTICE.
   2. WITHIN FORTY-FIVE DAYS OF RECEIPT OF AN  APPLICATION,  THE  COOPER-
 ATIVE  SHALL  EITHER  REJECT  OR APPROVE THE APPLICATION AND PROVIDE THE
 APPLICANT WITH WRITTEN NOTICE THEREOF.
   3. WHENEVER ANY COOPERATIVE SHALL REJECT AN APPLICATION, SUCH  COOPER-
 ATIVE  SHALL  PROVIDE  THE  APPLICANT  WITH  A  WRITTEN STATEMENT OF THE
 REASONS FOR SUCH REJECTION. NO COOPERATIVE SHALL REJECT  AN  APPLICATION
 BECAUSE  OF THE RACE, CREED, COLOR, NATIONAL ORIGIN, SEXUAL ORIENTATION,
 MILITARY STATUS, SEX, AGE, DISABILITY, MARITAL STATUS OR FAMILIAL STATUS
 OF THE PURCHASER.
   4. DEPOSIT BY A PURCHASER OF AN APPLICATION IN THE UNITED STATES  MAIL
 CERTIFIED  AND  ADDRESSED TO THE REGISTERED OFFICE OF THE COOPERATIVE OR
 ITS MANAGING AGENT SHALL BE DEEMED SUBMITTED AND RECEIVED BY THE COOPER-
 ATIVE FIVE DAYS AFTER SUCH DEPOSIT.
   5. FAILURE BY A COOPERATIVE TO TAKE ACTION ON A COMPLETED  APPLICATION
 WITHIN  FORTY-FIVE  DAYS  OF  RECEIPT  THEREOF  BY  EITHER NOTIFYING THE
 PURCHASER OF ITS APPROVAL OR REJECTION SHALL BE DEEMED TO BE AN APPROVAL
 OF THE APPLICATION.
   § 364. PUBLIC POLICY. EVERY AGREEMENT, NEGATIVE COVENANT,  RESTRICTIVE
 COVENANT  OR  OTHER  PROVISION,  WHETHER  WRITTEN  OR  ORAL AND WHEREVER
 CONTAINED, INCONSISTENT WITH THIS ARTICLE SHALL BE VOID AND  UNENFORCEA-
 BLE.
   §  3.  This  act  shall take effect on the sixtieth day after it shall
 have become a law and shall apply to applications submitted and received
 on or after such date.

co-Sponsors

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multi-Sponsors

2019-A1267A - Details

See Senate Version of this Bill:: S6408
Law Section:: Not-for-Profit Corporation Law
Laws Affected:: Add §519-b, N-PC L; add §728, BC L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A3553
2011-2012: A3053
2013-2014: A4388
2015-2016: A6395
2017-2018: A3813
2021-2022: A1623, S2874
2023-2024: A6647
2025-2026: A7183

2019-A1267A - Summary

Requires a uniform process for considering applications to purchase condominiums or cooperatives.

2019-A1267A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing  --  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 cooperative purchase applications
 
   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-b to read as follows:
 § 519-B. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A)  THE BOARD OF DIRECTORS OR MANAGING AGENT OF ANY RESIDENTIAL COOP-
 ERATIVE CORPORATION, INCORPORATED PURSUANT TO THIS CHAPTER, SHALL ESTAB-
 LISH THROUGH AMENDMENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO
 AND CONSIDERING APPLICATIONS FOR THE PURCHASE CERTIFICATES OF  STOCK,  A
 PROPRIETARY  LEASE  OR  OTHER  EVIDENCE OF AN OWNERSHIP INTEREST IN SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B) WRITTEN NOTICE OF SUCH PROCESSES SHALL BE MADE  AVAILABLE  TO  ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE  AGENTS,  PROMPTLY  UPON REQUEST. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF  DIRECTORS
 OR  MANAGING  AGENT,  UPON  RECEIVING  AN APPLICATION FROM A PROSPECTIVE
 PURCHASER, TO ACKNOWLEDGE RECEIPT OF SUCH APPLICATION AND TO INCLUDE  IN
 SUCH  ACKNOWLEDGEMENT OF RECEIPT WHETHER THE APPLICATION SUBMITTED FULLY
 SATISFIES THE REQUIREMENTS THEREFOR,  THE  WAY  OR  WAYS  THE  SUBMITTED
 APPLICATION  IS INCOMPLETE, AND/OR ANY ADDITIONAL MATERIALS NECESSARY TO
 EFFECTUATE CONSIDERATION OF THE APPLICATION.
   (D) THE PROCESSES ESTABLISHED PURSUANT TO THIS SECTION  SHALL  FURTHER
 REQUIRE  THAT,  FOLLOWING  THE SUBMISSION OF A COMPLETED APPLICATION AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06684-03-9

 A. 1267--A                          2
 
 ALL ADDITIONAL MATERIALS REQUESTED IN THE  ACKNOWLEDGEMENT  OF  RECEIPT,
 THE  BOARD  OF  DIRECTORS OR MANAGING AGENT SHALL NOTIFY THE PROSPECTIVE
 PURCHASER OR THEIR AGENT THAT THE APPLICATION IS COMPLETE.  SUCH  NOTICE
 SHALL  STATE BY WHAT DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND
 WHEN THE PROSPECTIVE PURCHASER OR THEIR AGENT WHETHER ITS CONSENT TO THE
 SALE IS GRANTED OR DENIED.
   (E) NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS  OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   §  2.  The business corporation law is amended by adding a new section
 728 to read as follows:
 § 728. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A) THE BOARD OF DIRECTORS OR MANAGING AGENT OF ANY RESIDENTIAL  COOP-
 ERATIVE CORPORATION, INCORPORATED PURSUANT TO THIS CHAPTER, SHALL ESTAB-
 LISH THROUGH AMENDMENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO
 AND  CONSIDERING  APPLICATIONS FOR THE PURCHASE CERTIFICATES OF STOCK, A
 PROPRIETARY LEASE OR OTHER EVIDENCE OF AN  OWNERSHIP  INTEREST  IN  SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B)  WRITTEN  NOTICE  OF SUCH PROCESSES SHALL BE MADE AVAILABLE TO ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE AGENTS, PROMPTLY UPON REQUEST. PROSPECTIVE  PURCHASERS  SHALL  BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C)  AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF DIRECTORS
 OR MANAGING AGENT, UPON RECEIVING  AN  APPLICATION  FROM  A  PROSPECTIVE
 PURCHASER,  TO ACKNOWLEDGE RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN
 SUCH ACKNOWLEDGEMENT OF RECEIPT WHETHER THE APPLICATION SUBMITTED  FULLY
 SATISFIES  THE  REQUIREMENTS  THEREFOR,  THE  WAY  OR WAYS THE SUBMITTED
 APPLICATION IS INCOMPLETE, AND/OR ANY ADDITIONAL MATERIALS NECESSARY  TO
 EFFECTUATE CONSIDERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS OR MANAGING AGENT SHALL  NOTIFY  THE  PROSPECTIVE
 PURCHASER  OR  THEIR AGENT THAT THE APPLICATION IS COMPLETE. SUCH NOTICE
 SHALL STATE BY WHAT DATE REVIEW OF THE APPLICATION WILL BE COMPLETE  AND
 WHEN THE PROSPECTIVE PURCHASER OR THEIR AGENT WHETHER ITS CONSENT TO THE
 SALE IS GRANTED OR DENIED.
   (E)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 3. This act shall take effect immediately.

co-Sponsors

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multi-Sponsors

2019-A1267B - Details

See Senate Version of this Bill:: S6408
Law Section:: Not-for-Profit Corporation Law
Laws Affected:: Add §519-b, N-PC L; add §728, BC L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A3553
2011-2012: A3053
2013-2014: A4388
2015-2016: A6395
2017-2018: A3813
2021-2022: A1623, S2874
2023-2024: A6647
2025-2026: A7183

2019-A1267B - Summary

Requires a uniform process for considering applications to purchase condominiums or cooperatives.

2019-A1267B - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--B
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing  --  committee  discharged,  bill  amended,  ordered  reprinted as
   amended and recommitted to said committee -- reported and referred  to
   the  Committee  on  Rules -- Rules Committee discharged, bill amended,
   ordered reprinted as amended and recommitted to the Committee on Rules
 
 AN ACT to amend the not-for-profit  corporation  law  and  the  business
   corporation 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. The not-for-profit corporation law is amended by  adding  a
 new section 519-b to read as follows:
 § 519-B. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A) THE BOARD OF DIRECTORS OF ANY RESIDENTIAL COOPERATIVE CORPORATION,
 INCORPORATED  PURSUANT  TO  THIS CHAPTER, SHALL ESTABLISH THROUGH AMEND-
 MENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO  AND  CONSIDERING
 APPLICATIONS FOR THE PURCHASE CERTIFICATES OF STOCK, A PROPRIETARY LEASE
 OR  OTHER  EVIDENCE OF AN OWNERSHIP INTEREST IN SUCH RESIDENTIAL COOPER-
 ATIVE CORPORATION.
   (B) WRITTEN NOTICE OF SUCH PROCESSES SHALL BE MADE  AVAILABLE  TO  ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE  AGENTS,  PROMPTLY  UPON REQUEST. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF DIRECTORS,
 UPON RECEIVING AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO  ACKNOWL-
 EDGE  RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN SUCH ACKNOWLEDGEMENT
 OF  RECEIPT  WHETHER  THE  APPLICATION  SUBMITTED  FULLY  SATISFIES  THE
 REQUIREMENTS  THEREFOR,  THE  WAY  OR  WAYS THE SUBMITTED APPLICATION IS
 INCOMPLETE, AND/OR ANY  ADDITIONAL  MATERIALS  NECESSARY  TO  EFFECTUATE
 CONSIDERATION OF THE APPLICATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06684-06-9

 A. 1267--B                          2
 
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WHETHER ITS CONSENT TO THE SALE IS  GRANTED  OR
 DENIED.
   (E)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 2. The business corporation law is amended by adding a  new  section
 728 to read as follows:
 § 728. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A) THE BOARD OF DIRECTORS OF ANY RESIDENTIAL COOPERATIVE CORPORATION,
 INCORPORATED  PURSUANT  TO  THIS CHAPTER, SHALL ESTABLISH THROUGH AMEND-
 MENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO  AND  CONSIDERING
 APPLICATIONS FOR THE PURCHASE CERTIFICATES OF STOCK, A PROPRIETARY LEASE
 OR  OTHER  EVIDENCE OF AN OWNERSHIP INTEREST IN SUCH RESIDENTIAL COOPER-
 ATIVE CORPORATION.
   (B) WRITTEN NOTICE OF SUCH PROCESSES SHALL BE MADE  AVAILABLE  TO  ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE  AGENTS,  PROMPTLY  UPON REQUEST. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF DIRECTORS,
 UPON RECEIVING AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO  ACKNOWL-
 EDGE  RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN SUCH ACKNOWLEDGEMENT
 OF  RECEIPT  WHETHER  THE  APPLICATION  SUBMITTED  FULLY  SATISFIES  THE
 REQUIREMENTS  THEREFOR,  THE  WAY  OR  WAYS THE SUBMITTED APPLICATION IS
 INCOMPLETE, AND/OR ANY  ADDITIONAL  MATERIALS  NECESSARY  TO  EFFECTUATE
 CONSIDERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WHETHER ITS CONSENT TO THE SALE IS  GRANTED  OR
 DENIED.
   (E)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 3. This act shall take effect immediately.

co-Sponsors

View additional co-sponsors

multi-Sponsors

2019-A1267C - Details

See Senate Version of this Bill:: S6408
Law Section:: Not-for-Profit Corporation Law
Laws Affected:: Add §519-b, N-PC L; add §728, BC L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A3553
2011-2012: A3053
2013-2014: A4388
2015-2016: A6395
2017-2018: A3813
2021-2022: A1623, S2874
2023-2024: A6647
2025-2026: A7183

2019-A1267C - Summary

Requires a uniform process for considering applications to purchase condominiums or cooperatives.

2019-A1267C - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--C
                                                            R. R. 237
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT, BLAKE -- Multi-Sponsored by --  M.  of  A.  COOK,
   GALEF,  LUPARDO,  McDONOUGH -- read once and referred to the Committee
   on Housing -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee -- reported and referred  to
   the  Committee  on  Rules -- Rules Committee discharged, bill amended,
   ordered reprinted as amended and recommitted to the Committee on Rules
   -- amended on the special order of third reading, ordered reprinted as
   amended, retaining its place on the special order of third reading
 
 AN ACT to amend the not-for-profit  corporation  law  and  the  business
   corporation 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. The not-for-profit corporation law is amended by  adding  a
 new section 519-b to read as follows:
 § 519-B. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A)  ANY  RESIDENTIAL COOPERATIVE CORPORATION INCORPORATED PURSUANT TO
 THIS CHAPTER, SHALL ESTABLISH UNIFORM  PROCESSES  FOR  APPLYING  TO  AND
 CONSIDERING  APPLICATIONS  FOR  THE PURCHASE OF CERTIFICATES OF STOCK, A
 PROPRIETARY LEASE OR OTHER EVIDENCE OF AN  OWNERSHIP  INTEREST  IN  SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B)  WRITTEN  NOTICE  OF SUCH PROCESSES SHALL BE MADE AVAILABLE TO ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE AGENTS, PROMPTLY UPON REQUEST. PROSPECTIVE  PURCHASERS  SHALL  BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C)  AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE COOPERATIVE CORPO-
 RATION, UPON RECEIVING AN APPLICATION FROM A PROSPECTIVE  PURCHASER,  TO
 ACKNOWLEDGE  RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN SUCH ACKNOWL-
 EDGEMENT OF RECEIPT WHETHER THE APPLICATION  SUBMITTED  FULLY  SATISFIES
 THE  REQUIREMENTS THEREFOR, THE WAY OR WAYS THE SUBMITTED APPLICATION IS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06684-09-9

 A. 1267--C                          2
 
 INCOMPLETE, AND ANY ADDITIONAL MATERIALS NECESSARY TO EFFECTUATE CONSID-
 ERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WILL BE NOTIFIED WHETHER CONSENT TO THE SALE IS
 GRANTED OR DENIED.
   (E) NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS  OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   §  2.  The business corporation law is amended by adding a new section
 728 to read as follows:
 § 728. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A) ANY RESIDENTIAL COOPERATIVE CORPORATION INCORPORATED  PURSUANT  TO
 THIS  CHAPTER,  SHALL  ESTABLISH  UNIFORM  PROCESSES FOR APPLYING TO AND
 CONSIDERING APPLICATIONS FOR THE PURCHASE OF CERTIFICATES  OF  STOCK,  A
 PROPRIETARY  LEASE  OR  OTHER  EVIDENCE OF AN OWNERSHIP INTEREST IN SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B) WRITTEN NOTICE OF SUCH PROCESSES SHALL BE MADE  AVAILABLE  TO  ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE  AGENTS,  PROMPTLY  UPON REQUEST. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE COOPERATIVE  CORPO-
 RATION  UPON  RECEIVING  AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO
 ACKNOWLEDGE RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN SUCH  ACKNOWL-
 EDGEMENT  OF  RECEIPT  WHETHER THE APPLICATION SUBMITTED FULLY SATISFIES
 THE REQUIREMENTS THEREFOR, THE WAY OR WAYS THE SUBMITTED APPLICATION  IS
 INCOMPLETE, AND ANY ADDITIONAL MATERIALS NECESSARY TO EFFECTUATE CONSID-
 ERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WILL BE NOTIFIED WHETHER CONSENT TO THE SALE IS
 GRANTED OR DENIED.
   (E) NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS  OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 3. This act shall take effect on the one hundred twentieth day after
 it shall have become a law.

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2019-A1267D (ACTIVE) - Details

See Senate Version of this Bill:: S6408
Law Section:: Not-for-Profit Corporation Law
Laws Affected:: Add §519-b, N-PC L; add §728, BC L
Versions Introduced in Other Legislative Sessions:: 2009-2010: A3553
2011-2012: A3053
2013-2014: A4388
2015-2016: A6395
2017-2018: A3813
2021-2022: A1623, S2874
2023-2024: A6647
2025-2026: A7183

2019-A1267D (ACTIVE) - Summary

Requires a uniform process for considering applications to purchase condominiums or cooperatives.

2019-A1267D (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--D
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M. of A. PERRY, PAULIN, DiPIETRO, PEOPLES-STOKES, BRABE-
   NEC, SEAWRIGHT, BLAKE, RICHARDSON -- Multi-Sponsored by --  M.  of  A.
   COOK,  GALEF,  LUPARDO,  McDONOUGH  --  read  once and referred to the
   Committee on Housing -- committee discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee -- reported and
   referred to the Committee on Rules -- Rules Committee discharged, bill
   amended, ordered reprinted as amended and recommitted to the Committee
   on  Rules  --  amended  on the special order of third reading, ordered
   reprinted as amended, retaining its place  on  the  special  order  of
   third  reading  --  ordered  to  a  third reading, amended and ordered
   reprinted, retaining its place on the order of third reading
 
 AN ACT to amend the not-for-profit  corporation  law  and  the  business
   corporation 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. The not-for-profit corporation law is amended by  adding  a
 new section 519-b to read as follows:
 § 519-B. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A)  ANY  RESIDENTIAL COOPERATIVE CORPORATION INCORPORATED PURSUANT TO
 THIS CHAPTER, SHALL ESTABLISH UNIFORM  PROCESSES  FOR  APPLYING  TO  AND
 CONSIDERING  APPLICATIONS  FOR  THE PURCHASE OF CERTIFICATES OF STOCK, A
 PROPRIETARY LEASE OR OTHER EVIDENCE OF AN  OWNERSHIP  INTEREST  IN  SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B)  WRITTEN  NOTICE  OF SUCH PROCESSES SHALL BE MADE AVAILABLE TO ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE AGENTS, PROMPTLY UPON REQUEST.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE COOPERATIVE  CORPO-
 RATION,  UPON  RECEIVING AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO
 ACKNOWLEDGE RECEIPT OF SUCH APPLICATION WITHIN TWENTY-ONE  DAYS  AND  TO
 INCLUDE  IN  SUCH  ACKNOWLEDGEMENT  OF  RECEIPT  WHETHER THE APPLICATION
 SUBMITTED FULLY SATISFIES THE REQUIREMENTS THEREFOR, THE WAY OR WAYS THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD06684-11-0

 A. 1267--D                          2
 
 SUBMITTED APPLICATION IS INCOMPLETE, AND ANY ADDITIONAL MATERIALS NECES-
 SARY TO EFFECTUATE CONSIDERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WILL BE NOTIFIED WHETHER CONSENT TO THE SALE IS
 GRANTED OR DENIED.
   (E) WRITTEN NOTICE THAT CONSENT TO THE SALE HAS BEEN GRANTED OR DENIED
 SHALL BE PROVIDED TO THE PROSPECTIVE PURCHASER NO MORE THAN NINETY  DAYS
 AFTER  THE SUBMISSION OF A COMPLETED APPLICATION. IN THE EVENT A SALE IS
 DENIED, SUCH NOTICE SHALL STATE THE REASON FOR THE DENIAL. IF NO WRITTEN
 NOTICE IS PROVIDED WITHIN NINETY DAYS, CONSENT  TO  THE  SALE  SHALL  BE
 GRANTED.
   (F)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 2. The business corporation law is amended by adding a  new  section
 728 to read as follows:
 § 728. RESIDENTIAL COOPERATIVE CORPORATIONS; OWNERSHIP INTERESTS.
   (A)  ANY  RESIDENTIAL COOPERATIVE CORPORATION INCORPORATED PURSUANT TO
 THIS CHAPTER, SHALL ESTABLISH UNIFORM  PROCESSES  FOR  APPLYING  TO  AND
 CONSIDERING  APPLICATIONS  FOR  THE PURCHASE OF CERTIFICATES OF STOCK, A
 PROPRIETARY LEASE OR OTHER EVIDENCE OF AN  OWNERSHIP  INTEREST  IN  SUCH
 RESIDENTIAL COOPERATIVE CORPORATION.
   (B)  WRITTEN  NOTICE  OF SUCH PROCESSES SHALL BE MADE AVAILABLE TO ANY
 PROSPECTIVE PURCHASERS AND PROSPECTIVE SELLERS, OR THEIR RESPECTIVE REAL
 ESTATE AGENTS, PROMPTLY UPON REQUEST.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE COOPERATIVE  CORPO-
 RATION  UPON  RECEIVING  AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO
 ACKNOWLEDGE RECEIPT OF SUCH APPLICATION AND TO INCLUDE IN SUCH  ACKNOWL-
 EDGEMENT  OF  RECEIPT  WHETHER THE APPLICATION SUBMITTED FULLY SATISFIES
 THE REQUIREMENTS THEREFOR, THE WAY OR WAYS THE SUBMITTED APPLICATION  IS
 INCOMPLETE, AND ANY ADDITIONAL MATERIALS NECESSARY TO EFFECTUATE CONSID-
 ERATION OF THE APPLICATION.
   (D)  THE  PROCESSES ESTABLISHED PURSUANT TO THIS SECTION SHALL FURTHER
 REQUIRE THAT, FOLLOWING THE SUBMISSION OF A  COMPLETED  APPLICATION  AND
 ALL  ADDITIONAL  MATERIALS  REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT,
 THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER  OR  THEIR
 AGENT  THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT
 DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE
 PURCHASER OR THEIR AGENT WILL BE NOTIFIED WHETHER CONSENT TO THE SALE IS
 GRANTED OR DENIED.
   (E) WRITTEN NOTICE THAT CONSENT TO THE SALE HAS BEEN GRANTED OR DENIED
 SHALL BE PROVIDED TO THE PROSPECTIVE PURCHASER NO MORE THAN NINETY  DAYS
 AFTER  THE SUBMISSION OF A COMPLETED APPLICATION. IN THE EVENT A SALE IS
 DENIED, SUCH NOTICE SHALL STATE THE REASON FOR THE DENIAL. IF NO WRITTEN
 NOTICE IS PROVIDED WITHIN NINETY DAYS, CONSENT  TO  THE  SALE  SHALL  BE
 GRANTED.
   (F)  NOTHING IN THIS SECTION SHALL BE CONSTRUED TO LIMIT THE RIGHTS OR
 REMEDIES PROVIDED BY ANY OTHER PROVISION OF LAW.
   § 3. This act shall take effect on the one hundred twentieth day after
 it shall have become a law.

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PERRY

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co-Sponsors

Amy Paulin

Andrew Raia

David DiPietro

Crystal Peoples-Stokes

multi-Sponsors

Vivian Cook

Sandy Galef

Donna Lupardo

David McDonough

2019-A1267 - Details

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co-Sponsors

Amy Paulin

Andrew Raia

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Crystal Peoples-Stokes

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Vivian Cook

Sandy Galef

Donna Lupardo

David McDonough

2019-A1267A - Details

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co-Sponsors

Amy Paulin

Andrew Raia

David DiPietro

Crystal Peoples-Stokes

multi-Sponsors

Vivian Cook

Sandy Galef

Donna Lupardo

David McDonough

2019-A1267B - Details

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co-Sponsors

Amy Paulin

Andrew Raia

David DiPietro

Crystal Peoples-Stokes

multi-Sponsors

Vivian Cook

Sandy Galef

Donna Lupardo

David McDonough

2019-A1267C - Details

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co-Sponsors

Amy Paulin

Andrew Raia

David DiPietro

Crystal Peoples-Stokes

multi-Sponsors

Vivian Cook

Sandy Galef

Donna Lupardo

David McDonough

2019-A1267D (ACTIVE) - Details

2019-A1267D (ACTIVE) - Summary

2019-A1267D (ACTIVE) - Bill Text download pdf

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