NY S07958

Creates the Office of the Cooperative and Condominium Ombudsman within the Department of Law, appointed by the Attorney General, to serve as a neutral resource for cooperative and condominium disputes and governance issues.

Ombudsman duties include educating residents and board members on legal rights, providing alternative dispute resolution services, monitoring cooperative and condominium elections, and publishing educational materials.

Establishes an annual residential unit fee of six dollars per residential unit charged to cooperative housing corporations and homeowners associations, with all revenue dedicated to funding the ombudsman office.

Creates the Office of the Cooperative and Condominium Ombudsman Fund within the State Comptroller's custody to receive and separately account for fee revenues and appropriations for the office's operations.

Requires the ombudsman to be an attorney with extensive experience in real estate, cooperative and condominium law, and alternative dispute resolution, with an annual salary comparable to other senior state officers.