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Assembly Bill A5264

2023-2024 Legislative Session

Relates to prohibiting members of certain boards of directors who have been removed from serving on a board for a period of fifteen years

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Archive: Last Bill Status - In Assembly Committee

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2023-A5264 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Add §611, Priv Hous Fin L

2023-A5264 (ACTIVE) - Summary

Relates to prohibiting members of certain boards of directors who have been removed from serving on a board for a period of fifteen years; provides that for any housing entity with a board of directors overseen by the department of housing preservation and development, if a member of the board is removed by the department or by court order, such member shall be banned from serving on a board overseen by the department for a period of 15 years.

2023-A5264 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5264
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 7, 2023
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the private housing finance law, in relation to  prohib-
   iting  members  of  certain  boards of directors who have been removed
   from serving on a board for a period of fifteen years

   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 611 to read as follows:
    § 611. REMOVAL OF BOARD OF DIRECTORS. FOR ANY  HOUSING  ENTITY  WHICH
 HAS  A BOARD OF DIRECTORS IN WHICH THE NEW YORK CITY DEPARTMENT OF HOUS-
 ING PRESERVATION AND DEVELOPMENT HAS OVERSIGHT, IF THE BOARD  OF  DIREC-
 TORS OR ANY INDIVIDUAL MEMBER OF SUCH BOARD IS REMOVED BY THE DEPARTMENT
 OR  BY A COURT ORDER, SUCH REMOVED MEMBER OR MEMBERS SHALL BE PROHIBITED
 FROM RUNNING OR BEING APPOINTED TO ANY BOARD OF  DIRECTORS  OVERSEEN  BY
 THE  DEPARTMENT  OF HOUSING PRESERVATION AND DEVELOPMENT FOR A PERIOD OF
 FIFTEEN YEARS.
   § 2. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09384-01-3

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