Senate Bill S3320

2023-2024 Legislative Session

Creates a residential condominium owner bill of rights

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • 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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2023-S3320 (ACTIVE) - Details

See Assembly Version of this Bill:
A6241
Current Committee:
Assembly Housing
Law Section:
Real Property Law
Laws Affected:
Add §339-mm, RP L
Versions Introduced in Other Legislative Sessions:
2017-2018: S8643
2019-2020: S1751
2021-2022: S3017

2023-S3320 (ACTIVE) - Summary

Creates a residential condominium owner's bill of rights that includes the right to transparency, the right to timely decisions, voting rights, the right to notice, and the right against extraordinary expenses.

2023-S3320 (ACTIVE) - Sponsor Memo

2023-S3320 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3320
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2023
                                ___________
 
 Introduced  by  Sens.  SEPULVEDA,  LIU,  RAMOS -- read twice and ordered
   printed, and when printed to be committed to the Committee on  Judici-
   ary
 
 AN  ACT  to amend the real property law, in relation to creating a resi-
   dential condominium owner bill of rights
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  real property law is amended by adding a new section
 339-mm to read as follows:
   § 339-MM. RESIDENTIAL CONDOMINIUM OWNER'S BILL OF RIGHTS.  THE  ORGAN-
 IZATIONAL AND OPERATING DOCUMENTS OF A NOT-FOR-PROFIT RESIDENTIAL CONDO-
 MINIUM  ASSOCIATION ESTABLISHED OR OPERATING PURSUANT TO THE LAWS OF THE
 STATE AND MANAGING THE COMMON CHARGES, ELEMENTS, EXPENSES, OR PROFITS OF
 THIRTY-FIVE HUNDRED OR MORE UNITS SHALL GUARANTEE THE  FOLLOWING  RIGHTS
 TO EACH UNIT OWNER.
   1.  THE  RIGHT TO TRANSPARENCY. COMPLETE AND ACCURATE FINANCIAL STATE-
 MENTS, REPORTS OF HIRED ACCOUNTANTS AND CONSULTANTS  ON  BEHALF  OF  THE
 ASSOCIATION,  REPORTS  BY  MUNICIPAL  OR COUNTY INSPECTORS, AND APPROVED
 MINUTES OF THE BOARD OF MANAGERS' MEETINGS SHALL BE AVAILABLE FOR REVIEW
 WITHIN A TIMELY FASHION OF A REQUEST TO REVIEW, INSPECT,  OR  COPY.  ANY
 FINANCIAL  STATEMENTS,  REPORTS,  OR MINUTES ORDINARILY PROVIDED TO UNIT
 OWNERS SHALL BE PROVIDED IN A TIMELY  FASHION  PURSUANT  TO  ESTABLISHED
 TIMETABLES.  IN  ADDITION  TO  ANY  OTHER  NOTICE REQUIRED, THE APPROVED
 MINUTES OF ALL BOARD AND UNIT OWNER MEETINGS SHALL BE POSTED IN A PROMI-
 NENT PLACE ACCESSIBLE TO ALL UNIT OWNERS IN EACH BUILDING COMPRISING THE
 CONDOMINIUM WITHIN ONE DAY OF THEIR APPROVAL. FOR THE PURPOSES  OF  THIS
 SUBDIVISION,  "FINANCIAL STATEMENTS" SHALL INCLUDE A COMPLETE ACCOUNTING
 FOR ALL EXPENDITURES, CAPITAL IMPROVEMENTS, OR ANYTHING IN EXCESS OF THE
 CONTINGENCY FUND INCLUDING THE BUDGET,  A  COMPARISON  OF  ANY  AND  ALL
 BIDDING  PROCESSES FOR WORK TO BE DONE ON THE CONDOMINIUM INCLUDING WORK
 THAT WAS CONDUCTED AND THE AMOUNTS OF THE CONTRIBUTIONS  OF  EACH  OWNER
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07972-01-3
              

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