Assembly Bill A1267D

2019-2020 Legislative Session

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

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Archive: Last Bill Status - On Floor Calendar

  • 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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Bill Amendments

co-Sponsors

multi-Sponsors

2019-A1267 - Details

See Senate Version of this Bill:
S6408
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
2021-2022: A1623, S2874
2023-2024: A6647

2019-A1267 - Summary

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

2019-A1267 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1267
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing
 
 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.
   § 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.

co-Sponsors

multi-Sponsors

2019-A1267A - Details

See Senate Version of this Bill:
S6408
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
2021-2022: A1623, S2874
2023-2024: A6647

2019-A1267A - Summary

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

2019-A1267A - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing  --  committee  discharged,  bill  amended,  ordered  reprinted as
   amended and recommitted to said committee

 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)  THE BOARD OF DIRECTORS OR MANAGING AGENT OF ANY RESIDENTIAL COOP-
 ERATIVE CORPORATION, INCORPORATED PURSUANT TO THIS CHAPTER, SHALL ESTAB-
 LISH THROUGH AMENDMENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO
 AND CONSIDERING APPLICATIONS FOR THE PURCHASE 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. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF  DIRECTORS
 OR  MANAGING  AGENT,  UPON  RECEIVING  AN APPLICATION FROM A PROSPECTIVE
 PURCHASER, TO ACKNOWLEDGE RECEIPT OF SUCH APPLICATION 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/OR ANY ADDITIONAL MATERIALS NECESSARY 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2019-A1267B - Details

See Senate Version of this Bill:
S6408
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
2021-2022: A1623, S2874
2023-2024: A6647

2019-A1267B - Summary

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

2019-A1267B - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--B
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT -- Multi-Sponsored by -- M.  of  A.  COOK,  GALEF,
   LUPARDO, McDONOUGH -- read once and referred to the Committee on Hous-
   ing  --  committee  discharged,  bill  amended,  ordered  reprinted as
   amended and recommitted to said committee -- reported and referred  to
   the  Committee  on  Rules -- Rules Committee discharged, bill amended,
   ordered reprinted as amended and recommitted to the Committee on Rules
 
 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) THE BOARD OF DIRECTORS OF ANY RESIDENTIAL COOPERATIVE CORPORATION,
 INCORPORATED  PURSUANT  TO  THIS CHAPTER, SHALL ESTABLISH THROUGH AMEND-
 MENTS TO ITS BY-LAWS UNIFORM PROCESSES FOR APPLYING TO  AND  CONSIDERING
 APPLICATIONS FOR THE PURCHASE CERTIFICATES OF STOCK, A PROPRIETARY LEASE
 OR  OTHER  EVIDENCE OF AN OWNERSHIP INTEREST IN SUCH RESIDENTIAL COOPER-
 ATIVE 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. PROSPECTIVE PURCHASERS SHALL BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (C) AT A MINIMUM, SUCH PROCESSES SHALL REQUIRE THE BOARD OF DIRECTORS,
 UPON RECEIVING AN APPLICATION FROM A PROSPECTIVE PURCHASER, TO  ACKNOWL-
 EDGE  RECEIPT OF SUCH APPLICATION 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/OR ANY  ADDITIONAL  MATERIALS  NECESSARY  TO  EFFECTUATE
 CONSIDERATION OF THE APPLICATION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2019-A1267C - Details

See Senate Version of this Bill:
S6408
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
2021-2022: A1623, S2874
2023-2024: A6647

2019-A1267C - Summary

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

2019-A1267C - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--C
                                                            R. R. 237
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M.  of A. PERRY, PAULIN, RAIA, DiPIETRO, PEOPLES-STOKES,
   BRABENEC, SEAWRIGHT, BLAKE -- Multi-Sponsored by --  M.  of  A.  COOK,
   GALEF,  LUPARDO,  McDONOUGH -- read once and referred to the Committee
   on Housing -- committee discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee -- reported and referred  to
   the  Committee  on  Rules -- Rules Committee discharged, bill amended,
   ordered reprinted as amended and recommitted to the Committee on Rules
   -- amended on the special order of third reading, ordered reprinted as
   amended, retaining its place on the special order of third reading
 
 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. PROSPECTIVE  PURCHASERS  SHALL  BE
 REQUIRED TO CONFIRM RECEIPT OF SUCH NOTICE IN WRITING.
   (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 AND TO INCLUDE IN SUCH ACKNOWL-
 EDGEMENT OF RECEIPT WHETHER THE APPLICATION  SUBMITTED  FULLY  SATISFIES
 THE  REQUIREMENTS THEREFOR, THE WAY OR WAYS THE SUBMITTED APPLICATION IS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

co-Sponsors

multi-Sponsors

2019-A1267D (ACTIVE) - Details

See Senate Version of this Bill:
S6408
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
2021-2022: A1623, S2874
2023-2024: A6647

2019-A1267D (ACTIVE) - Summary

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

2019-A1267D (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1267--D
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2019
                                ___________
 
 Introduced  by  M. of A. PERRY, PAULIN, DiPIETRO, PEOPLES-STOKES, BRABE-
   NEC, SEAWRIGHT, BLAKE, RICHARDSON -- Multi-Sponsored by --  M.  of  A.
   COOK,  GALEF,  LUPARDO,  McDONOUGH  --  read  once and referred to the
   Committee on Housing -- committee discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee -- reported and
   referred to the Committee on Rules -- Rules Committee discharged, bill
   amended, ordered reprinted as amended and recommitted to the Committee
   on  Rules  --  amended  on the special order of third reading, ordered
   reprinted as amended, retaining its place  on  the  special  order  of
   third  reading  --  ordered  to  a  third reading, amended and ordered
   reprinted, retaining its place on the order of third reading
 
 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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