Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to corporations, authorities and commissions |
May 11, 2021 |
referred to corporations, authorities and commissions |
Senate Bill S6661
2021-2022 Legislative Session
Sponsored By
(D) 11th Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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
Actions
2021-S6661 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8112
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Cooperative Corporations Law
- Laws Affected:
- Add §78, Coop Corps L
2021-S6661 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6661 SPONSOR: STAVISKY TITLE OF BILL: An act to amend the cooperative corporations law, in relation to prohib- iting board members of a cooperative housing corporation to serve as the listing agent for the co-op associated with their board status in a real estate transaction PURPOSE: To prohibit board members of a cooperative housing corporation from serving as the listing agent for the co-op associated with their board status in a real estate transaction. SUMMARY OF PROVISIONS: Section one amends the cooperative corporations law to define terms and prohibit currently seated board members from simultaneously serving as listing agents for the sale of any dwelling unit located on the premises
2021-S6661 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6661 2021-2022 Regular Sessions I N S E N A T E May 11, 2021 ___________ Introduced by Sen. STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the cooperative corporations law, in relation to prohib- iting board members of a cooperative housing corporation to serve as the listing agent for the co-op associated with their board status in a real estate transaction 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. COOPERATIVE HOUSING CORPORATIONS; BOARD MEMBERS PROHIBITED FROM BEING LISTING AGENTS. 1. FOR PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "COOPERATIVE HOUSING CORPORATION" MEANS A CORPORATION FORMED PURSUANT TO THIS CHAPTER OR ARTICLE FOUR OF THE BUSINESS CORPORATION LAW THAT OWNS OR LEASES RESIDENTIAL PREMISES AND OPERATES THE SAME ON A COOPERATIVE BASIS. (B) "MEMBER" MEANS A NATURAL PERSON HOLDING A MEMBERSHIP IN A COOPER- ATIVE HOUSING CORPORATION, WHETHER EVIDENCED BY A CERTIFICATE OF MEMBER- SHIP OR BY A CERTIFICATE OF STOCK OR BY OTHER AUTHORIZED MEANS OF IDEN- TIFICATION. 2. NO COOPERATIVE HOUSING CORPORATION SHALL PERMIT AN INDIVIDUAL SERV- ING ON THE BOARD OF DIRECTORS OF SUCH CORPORATION TO SERVE SIMULTANEOUS- LY AS A LISTING AGENT FOR THE SALE OF ANY DWELLING UNIT LOCATED ON THE PREMISES OF SUCH COOPERATIVE HOUSING CORPORATION. 3. ANY MEMBER SHALL BE PERMITTED TO CHOOSE A LISTING AGENT OF HIS OR HER CHOOSING FOR THE PURPOSES OF SELLING HIS OR HER DWELLING UNIT LOCATED ON THE PREMISES OF A COOPERATIVE HOUSING CORPORATION. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11378-01-1
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