assembly Bill A1623

2021-2022 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 11, 2021 referred to housing

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A1623 (ACTIVE) - Details

See Senate Version of this Bill:
S2874
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
2019-2020: A1267, S6408

A1623 (ACTIVE) - Summary

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

A1623 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1623
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 11, 2021
                                ___________
 
 Introduced  by  M. of A. PERRY, PAULIN, DiPIETRO, PEOPLES-STOKES, BRABE-
   NEC, SEAWRIGHT, RICHARDSON -- Multi-Sponsored by --  M.  of  A.  COOK,
   GALEF,  LUPARDO,  McDONOUGH -- read once and referred to the Committee
   on Housing
 
 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
 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.