S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9721--A
 
                           I N  A S S E M B L Y
 
                             February 6, 2020
                                ___________
 
 Introduced  by  M.  of  A.  L. ROSENTHAL, PHEFFER AMATO -- read once and
   referred to the Committee on Housing  --  committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 AN ACT to amend the private housing finance law, in relation to  certain
   duties of a board of directors of a limited-profit housing company

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 17 of the private housing finance law is amended by
 adding two new subdivisions 4 and 5 to read as follows:
   4. NOTWITHSTANDING THE PROVISIONS OF ANY LAW, GENERAL  OR  SPECIAL,  A
 BOARD  OF  DIRECTORS  OF A COMPANY CREATED PURSUANT TO THE PROVISIONS OF
 THIS ARTICLE SHALL:
   (A) HOLD AT LEAST SIX MEETINGS OF ITS MEMBERS ANNUALLY. SUCH  MEETINGS
 SHALL  BE  OPEN  TO THE SHAREHOLDERS AND RESIDENTS, EXCEPT THAT THEY MAY
 INCLUDE EXECUTIVE SESSIONS OPEN ONLY TO DIRECTORS FOR THE  SOLE  PURPOSE
 OF  DISCUSSING  CONFIDENTIAL  PERSONNEL ISSUES, LEGAL ADVICE AND COUNSEL
 FROM AN ATTORNEY TO WHOM THE HOUSING COMPANY IS A CLIENT,  OR  CONFIDEN-
 TIAL  ISSUES AFFECTING INDIVIDUAL SHAREHOLDERS OR RESIDENTS, OR CONTRACT
 NEGOTIATION.
   (B) FILE WITH THE COMMISSIONER OR THE SUPERVISING AGENCY, AS THE  CASE
 MAY  BE,  A  RECORD OF ANY VOTE ON A RESOLUTION OF SUCH BOARD, INCLUDING
 SPECIFICATION OF HOW EACH DIRECTOR VOTED. SUCH RECORD SHALL BE A  MATTER
 OF PUBLIC RECORD.
   (C) PROMPTLY GIVE NOTICE OF AND MAKE AVAILABLE TO ALL SHAREHOLDERS ANY
 COMMUNICATION TO THE HOUSING COMPANY FROM THE COMMISSIONER OR THE SUPER-
 VISING  AGENCY, AS THE CASE MAY BE, OR THE OFFICE OF THE ATTORNEY GENER-
 AL, REGARDING REGULATIONS, CHANGES IN REGULATIONS,  TAXATION,  FINANCES,
 REFINANCING, OR, IN THE EVENT OF A PROPOSED DISSOLUTION AND REINCORPORA-
 TION, THE REVIEW OF ANY VERSION OF AN OFFERING PLAN.
   (D)  INVESTIGATE ANY SUBSTANTIVE ALLEGATION THAT A TENANT IS NOT OCCU-
 PYING HIS OR HER DWELLING UNIT AS HIS OR HER PRIMARY RESIDENCE.
   5. (A) NO HOUSING COMPANY SHALL INTERFERE WITH THE RIGHT OF  A  SHARE-
 HOLDER  OR  TENANT TO FORM, JOIN OR PARTICIPATE IN THE LAWFUL ACTIVITIES
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD14552-02-0

 A. 9721--A                          2
 
 OF ANY GROUP, COMMITTEE OR OTHER  ORGANIZATION  FORMED  TO  PROTECT  THE
 RIGHTS  OF  SHAREHOLDERS  AND  TENANTS;  NOR  SHALL  ANY HOUSING COMPANY
 HARASS, PUNISH, PENALIZE, DIMINISH, OR WITHHOLD ANY  RIGHT,  BENEFIT  OR
 PRIVILEGE  OF  A  SHAREHOLDER OR TENANT UNDER THEIR PROPRIETARY LEASE OR
 TENANCY FOR EXERCISING SUCH RIGHT.
   (B) SHAREHOLDER AND/OR TENANTS' GROUPS, COMMITTEES OR OTHER SHAREHOLD-
 ER AND/OR TENANTS' ORGANIZATIONS SHALL HAVE THE RIGHT  TO  MEET  WITHOUT
 BEING  REQUIRED TO PAY A FEE IN ANY LOCATION ON THE PREMISES INCLUDING A
 COMMUNITY OR SOCIAL ROOM WHERE USE IS NORMALLY SUBJECT TO A FEE WHICH IS
 DEVOTED TO THE COMMON USE OF ALL SHAREHOLDERS AND/OR TENANTS IN A PEACE-
 FUL MANNER, AT REASONABLE HOURS AND WITHOUT OBSTRUCTING  ACCESS  TO  THE
 PREMISES OR FACILITIES. NO HOUSING COMPANY SHALL DENY SUCH RIGHT.
   (C)  THE  BOARD  OF DIRECTORS SHALL TAKE ALL NECESSARY AND APPROPRIATE
 ACTIONS TO ENSURE THAT  A  MANAGER  OR  AGENT  OF  THE  HOUSING  COMPANY
 COMPLIES WITH THE REQUIREMENTS IN THIS SUBDIVISION.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.