Assembly Bill A620

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    620
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  M.  of  A.  L. ROSENTHAL, PHEFFER AMATO -- read once and
   referred to the Committee on Housing
 
 AN ACT to amend the private housing finance law, in relation to  voting,
   election and referendum procedures

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The private housing finance law is amended by adding a  new
 section 13-c to read as follows:
   § 13-C. VOTING, ELECTION AND REFERENDUM PROCEDURES. 1. ANY SHAREHOLDER
 VOTE  SHALL  BE  CONDUCTED USING SECRET BALLOTS.   SUCH BALLOTS SHALL BE
 CAST IN-PERSON BY TENANTS ENTITLED TO OCCUPANCY IN THE  PROJECT;  UNLESS
 SUCH  TENANT  CASTS SUCH BALLOT USING AN ABSENTEE BALLOT ISSUED PURSUANT
 TO SUBDIVISION TWO OF THIS SECTION.
   2. A SHAREHOLDER ENTITLED TO OCCUPANCY IN THE PROJECT SHALL  BE  ENTI-
 TLED  TO  REQUEST AN ABSENTEE BALLOT TO CAST A BALLOT IN ANY SHAREHOLDER
 VOTE. SUCH ABSENTEE BALLOT SHALL BE DELIVERED  OR  MAILED  ONLY  TO  THE
 PRIMARY  RESIDENCE ADDRESS OF A SHAREHOLDER ENTITLED TO OCCUPANCY IN THE
 PROJECT. AN ABSENTEE BALLOT CAST PURSUANT TO THIS SUBDIVISION  SHALL  BE
 SEALED  WITHIN  TWO ENVELOPES, SHALL CONTAIN THE SIGNATURE OF THE SHARE-
 HOLDER CASTING THE VOTE, AND SHALL BE MAILED TO A  NEUTRAL  THIRD  PARTY
 NOT RUNNING FOR A POSITION ON THE BOARD OF DIRECTORS.
   3.  PROXY  VOTING SHALL NOT BE PERMITTED IN AN ELECTION FOR A POSITION
 ON A BOARD OF DIRECTORS, FOR DISSOLUTION OF THE COMPANY, FOR THE AUTHOR-
 IZATION OF A FEASIBILITY STUDY, FOR AN OFFERING  PLAN  INCLUDING  A  RED
 HERRING  OR  BLACK BOOK, OR ANY DOCUMENT OFFERED IN PLACE OF AN OFFERING
 PLAN AS PERMITTED BY THE ATTORNEY GENERAL.
   4. IN-PERSON BALLOTS SHALL PRODUCE A PAPER RECORD WHICH MAY BE AUDITED
 IN THE CASE OF A CONTESTED ELECTION RESULT.
   5. NO OTHERWISE-ELIGIBLE PERSON SHALL BE PREVENTED FROM BEING A CANDI-
 DATE FOR, BEING ELECTED TO, OR SERVING ON A  BOARD  OF  DIRECTORS  BASED
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD00372-01-1

 A. 620                              2
 
 SOLELY  ON  THAT  PERSON  OWING OR HAVING OWED ANY AMOUNT OF ANY FORM OF
 ARREARS TO THE HOUSING COMPANY, UNLESS, AT THE TIME OF NOMINATION,  THAT
 PERSON  CURRENTLY  OWES  AN AMOUNT OF BONA FIDE ARREARS GREATER THAN THE
 EQUIVALENT  OF TWO MONTHS OF THAT PERSON'S MONTHLY MAINTENANCE.  NOTHING
 IN THIS SUBDIVISION SHALL BE CONSTRUED TO REQUIRE OR MANDATE ANY HOUSING
 COMPANY TO ADOPT BYLAWS, RULES, POLICIES, OR PROCEDURES RESTRICTING  ANY
 PERSON'S  ELIGIBILITY  TO  BE NOMINATED, ELECTED, OR SERVE ON A BOARD OF
 DIRECTORS.  NOTHING CONTAINED IN THIS SUBDIVISION SHALL BE  A  BASIS  IN
 ITSELF TO DENY SUCH ELIGIBILITY TO ANY PERSON.
   6.  FOR ANY SHAREHOLDER VOTE REQUIRING A SPECIFIC PERCENTAGE OF DWELL-
 ING UNITS, THE TERM "DWELLING UNITS" SHALL MEAN ALL DWELLING  UNITS  FOR
 WHICH SHARES HAVE BEEN ISSUED, REGARDLESS OF WHETHER SUCH DWELLING UNITS
 ARE OCCUPIED OR VACANT.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law and shall apply to any vote or election that occurs on
 or after such date regardless of when such vote or  election  was  first
 noticed.