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NY A07773

Bill

Official Source

Status

Introduced

5/21/2021

Primary Sponsor

Rodneyse Bichotte Hermelyn

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Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Adds new section 352-m to the General Business Law requiring cooperative apartment corporation boards to notify applicants in writing when denying a share purchase request
  • Board of directors must provide written notification stating the reason or reasons for denial
  • Notification must be delivered to the applicant within thirty days of the board's decision to deny the purchase request
  • Applies to all requests to purchase shares allotted to a particular dwelling unit in a cooperative corporation
  • Takes effect immediately upon enactment

Legislative Description

Requires the board of directors of a cooperative apartment corporation to notify applicants seeking to purchase shares of the corporation of the reason or reasons the board of directors has refused such request.

Last Action

referred to housing

1/5/2022

Committee Referrals

Housing5/21/2021

Full Bill Text

No bill text available