Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to housing |
Apr 25, 2023 |
referred to housing |
Assembly Bill A6647
2023-2024 Legislative Session
Sponsored By
CHANDLER-WATERMAN
Current 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
Actions
2023-A6647 (ACTIVE) - Details
2023-A6647 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6647 2023-2024 Regular Sessions I N A S S E M B L Y April 25, 2023 ___________ Introduced by M. of A. CHANDLER-WATERMAN -- read once and referred to the Committee on Housing 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 SUBMITTED APPLICATION IS INCOMPLETE, AND ANY ADDITIONAL MATERIALS NECES- SARY 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 ALL ADDITIONAL MATERIALS REQUESTED IN THE ACKNOWLEDGEMENT OF RECEIPT, THE BOARD OF DIRECTORS SHALL NOTIFY THE PROSPECTIVE PURCHASER OR THEIR AGENT THAT THE APPLICATION IS COMPLETE. SUCH NOTICE SHALL STATE BY WHAT DATE REVIEW OF THE APPLICATION WILL BE COMPLETE AND WHEN THE PROSPECTIVE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07931-01-3 A. 6647 2
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