Senate Bill S4956

Signed By Governor
2019-2020 Legislative Session

Requires the board of directors of certain cooperative corporations and not-for-profit corporations to provide tenants with changes to the by-laws in writing

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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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Bill Amendments

2019-S4956 - Details

See Assembly Version of this Bill:
A456
Law Section:
Cooperative Corporations Law
Laws Affected:
Amd §16, add §78, Coop Corps L; amd §602, add §624, N-PC L
Versions Introduced in 2019-2020 Legislative Session:
S4956, A456

2019-S4956 - Summary

Requires the board of directors of certain cooperative corporations and not-for-profit corporations to provide tenants with changes to the by-laws in writing within ten days of adoption; requires notification to tenants of changes affecting occupancy or the rules of the building.

2019-S4956 - Sponsor Memo

2019-S4956 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4956
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               April 2, 2019
                                ___________
 
 Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions
 
 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 tenants with changes to the by-laws in writing  within  ten
   days  of  adoption;  in relation to notification 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:
   § 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, BY PHYSICAL  OR  ELECTRONIC  MEANS,
 WITHIN TEN DAYS OF SUCH ADOPTION.
   §  2.    The  cooperative  corporations law is amended by adding a new
 section 78 to read as follows:
   § 78. NOTIFICATION TO  RESIDENTS.  UPON  THE  ADOPTION,  AMENDMENT  OR
 REPEAL  OF BY-LAWS BY THE BOARD OF DIRECTORS PURSUANT TO SUBDIVISION TWO
 OF SECTION SIXTEEN OF THIS CHAPTER,  WHERE  SUCH  CHANGE  WOULD  HAVE  A
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

2019-S4956A (ACTIVE) - Details

See Assembly Version of this Bill:
A456
Law Section:
Cooperative Corporations Law
Laws Affected:
Amd §16, add §78, Coop Corps L; amd §602, add §624, N-PC L
Versions Introduced in 2019-2020 Legislative Session:
S4956, A456

2019-S4956A (ACTIVE) - Summary

Requires the board of directors of certain cooperative corporations and not-for-profit corporations to provide tenants with changes to the by-laws in writing within ten days of adoption; requires notification to tenants of changes affecting occupancy or the rules of the building.

2019-S4956A (ACTIVE) - Sponsor Memo

2019-S4956A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4956--A
     Cal. No. 1144
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                               April 2, 2019
                                ___________
 
 Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Corporations,  Authorities
   and Commissions -- committee discharged and said bill committed to the
   Committee  on Rules -- ordered to a third reading, amended and ordered
   reprinted, retaining its place in the order of third reading
 
 AN ACT to amend the business  corporation  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  tenants with changes to the by-laws in writing within ten
   days of adoption; in relation to notification 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 708 of the business corporation law is  amended  by
 adding two new subdivisions (e) and (f) to read as follows:
   (E) IN THE CASE OF CORPORATIONS OWNING OR LEASING RESIDENTIAL PREMISES
 AND  OPERATING  THE  SAME  ON A COOPERATIVE BASIS, CHANGES INCLUDING THE
 ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD  OF  DIRECTORS
 SHALL  BE  PROVIDED  TO THE MEMBERS, STOCKHOLDERS, AND DELEGATES OF SUCH
 CORPORATION IN WRITING, BY PHYSICAL OR ELECTRONIC MEANS, WITHIN TEN DAYS
 OF SUCH ADOPTION.
   (F) UPON THE ADOPTION, AMENDMENT OR REPEAL OF BY-LAWS BY THE BOARD  OF
 DIRECTORS  OF  A  CORPORATION OWNING OR LEASING RESIDENTIAL PREMISES AND
 OPERATING THE SAME ON A COOPERATIVE BASIS PURSUANT TO SUBDIVISION (E) OF
 THIS SECTION, WHERE SUCH CHANGE WOULD HAVE A DIRECT EFFECT ON THE  RESI-
 DENT'S  OCCUPANCY  OR  THE RULES OF THE BUILDING, THE BOARD OF DIRECTORS
 SHALL POST THE ADOPTED, AMENDED, OR REPEALED  BY-LAWS  CONSPICUOUSLY  TO
 ENSURE TENANTS WILL BE AWARE OF SUCH ADOPTION.
   §  2.  Section 602 of the not-for-profit corporation law is amended by
 adding a new paragraph (g) to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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