NY A08840

Requires shareholder votes on board elections, bylaws, dissolution, and reconstitution to use secret ballots cast in-person or by absentee ballot mailed to a shareholder's primary residence.

Reduces the threshold for preliminary votes on feasibility studies and special assessments from eighty percent to two-thirds of all dwelling units for which shares have been issued.

Maintains an eighty percent approval threshold for votes to fund, develop, and submit offering plans or proxy statements for dissolution and reconstitution to the attorney general.

Reduces the minimum number of required board meetings from six to four annually, with all meetings open to shareholders except for executive sessions on personnel, legal advice, and confidential matters.

Prohibits mutual housing companies from voluntarily dissolving or undergoing semi-privatization during the COVID-19 state disaster emergency declared by executive order 202 of 2020.