Assembly Bill A2163

2011-2012 Legislative Session

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval

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Archive: Last 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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2011-A2163 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Real Property Law
Laws Affected:
Add Art 11 ยงยง360 - 364, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A10731
2013-2014: A2556
2015-2016: A1120
2017-2018: A7111

2011-A2163 (ACTIVE) - Summary

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval.

2011-A2163 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  2163

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 14, 2011
                               ___________

Introduced by M. of A. LAVINE -- read once and referred to the Committee
  on Housing

AN  ACT  to  amend  the  real  property  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.  Legislative  findings.  The  legislature hereby finds and
declares that residential cooperative purchasers are  subject  to  proc-
esses  and  conditions  that  do  not  also apply to purchasers of other
single family residences. The legislature also finds  that  these  proc-
esses  and  conditions,  at  a minimum, give the appearance and have the
potential to be misused to illegally discriminate against a purchaser of
cooperative housing. Because this state  strongly  opposes  all  illegal
discrimination  and  promotes  fair  housing laws and regulations, it is
essential that the process for purchasing a cooperative dwelling include
additional safeguards to protect against  illegal  discrimination.  This
act is not intended and does not diminish the duty of cooperative boards
to uphold their established fiduciary duties. This act will significant-
ly  improve  the transparency of the cooperative purchase process to the
benefit of all parties involved in the transaction.
  S 2. The real property law is amended by adding a new  article  11  to
read as follows:
                               ARTICLE 11
                          COOPERATIVE PURCHASE
                              APPLICATIONS

SECTION 360. SHORT TITLE.
        361. DEFINITIONS.
        362. PURCHASE APPLICATIONS.
        363. ACTION UPON APPLICATIONS.
        364. PUBLIC POLICY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06220-01-1
              

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