Assembly Bill A5472

2017-2018 Legislative Session

Provides for the appeal of disputes between shareholders and boards of directors of residential cooperative corporations to a hearing officer appointed by the attorney general

download bill text pdf

Sponsored By

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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2017-A5472 (ACTIVE) - Details

See Senate Version of this Bill:
S637
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Cooperative Corporations Law
Laws Affected:
Add §78, Coop Corps L; amd §63, Exec L
Versions Introduced in Other Legislative Sessions:
2011-2012: S7259
2013-2014: A5838, S4626
2015-2016: A1426, S99
2019-2020: A4843, S631
2021-2022: A5326
2023-2024: A2768

2017-A5472 (ACTIVE) - Summary

Provides for the appeal of disputes between shareholders and boards of directors of residential cooperatives to a hearing officer appointed by the attorney general.

2017-A5472 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5472
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 9, 2017
                                ___________
 
 Introduced  by  M.  of  A.  GARBARINO  -- Multi-Sponsored by -- M. of A.
   COLTON, COOK, FINCH, GRAF, LAVINE, LUPINACCI, MONTESANO,  PALUMBO,  RA
   --  read  once and referred to the Committee on Corporations, Authori-
   ties and Commissions
 
 AN ACT to amend the cooperative corporations law and the executive  law,
   in  relation  to  providing for the resolution of disputes between the
   board of directors  of  residential  cooperative  corporations  and  a
   shareholder  to  be  determined  by a hearing officer appointed by the
   attorney general
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The cooperative corporations law is amended by adding a new
 section 78 to read as follows:
   §  78.  DISPUTES  TO BE HEARD BY ATTORNEY GENERAL; RESIDENTIAL COOPER-
 ATIVE. A SHAREHOLDER IN A COOPERATIVE CORPORATION WHICH OWNS RESIDENTIAL
 REAL PROPERTY MAY APPEAL ANY DECISION BY  SUCH  CORPORATION'S  BOARD  OF
 DIRECTORS  TO A HEARING OFFICER APPOINTED BY THE ATTORNEY GENERAL PURSU-
 ANT TO SUBDIVISION SEVENTEEN OF SECTION  SIXTY-THREE  OF  THE  EXECUTIVE
 LAW.  A HEARING UPON SUCH APPEAL SHALL BE HEARD WITHIN SIXTY DAYS OF THE
 FILING THEREOF WITH THE DEPARTMENT OF LAW, WITH NOTICE TO THE  BOARD  OF
 DIRECTORS.  THE  HEARING OFFICER SHALL PROVIDE EACH PARTY AN OPPORTUNITY
 TO BE HEARD AND RENDER FINAL DETERMINATION BASED  ON  THE  EVIDENCE  AND
 TESTIMONY PRESENTED AT THE HEARING.
   § 2. Section 63 of the executive law is amended by adding a new subdi-
 vision 17 to read as follows:
   17.  ESTABLISH  AN  APPEALS  PROCESS FOR THE DETERMINATION OF DISPUTES
 BETWEEN SHAREHOLDERS AND THE BOARDS OF DIRECTORS OF  COOPERATIVE  CORPO-
 RATIONS  PURSUANT  TO  SECTION  SEVENTY-EIGHT  OF THE COOPERATIVE CORPO-
 RATIONS LAW. THE ATTORNEY GENERAL SHALL APPOINT AND EMPOWER SUCH HEARING
 OFFICERS AS SHALL BE NECESSARY TO HEAR AND DETERMINE SUCH APPEALS.
   § 3. This act shall take effect immediately, except that  section  one
 of  this  act  shall take effect on the first of January next succeeding
 the date on which it shall have become a law.

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