NY S05644

Establishes standardized application forms for residential cooperative purchases to ensure transparency and protect against illegal discrimination in the cooperative home purchase process

Requires cooperatives to acknowledge receipt of completed applications within ten days and provide written notice of any deficiencies; applications deemed complete if cooperative fails to provide timely notice

Mandates cooperatives approve or reject applications within forty-five days of receipt; failure to act within this timeframe results in automatic approval of the application

Requires all application forms to include a notice advising applicants how to access information on fair housing and anti-discrimination laws, with notice text promulgated by the Division of Human Rights

Voids any agreement, covenant, or provision that conflicts with these requirements; takes effect sixty days after enactment for applications submitted on or after that date