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NY A03263
Bill
Status
1/22/2021
Primary Sponsor
Linda Rosenthal
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AI Summary
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Requires auditors to disclose in writing any findings that would materially impact professional assessments of a condominium, cooperative apartment building, or cooperative community's fiscal health to prospective buyers, current owners, and the relevant board.
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Mandates written disclosures be delivered to prospective buyers within a reasonable time after discovery of material information.
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Allows prospective buyers, current owners, and boards to request copies of completed auditor reports, which must be provided within a reasonable time of the request.
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Takes effect immediately upon enactment.
Legislative Description
Relates to the disclosure of information on the fiscal health of a condominium, cooperative apartment building or cooperative community to prospective buyers, current owners and the condominium board or the cooperative board.
Last Action
referred to housing
1/5/2022