NY A04789

Establishes a Residential Condominium Owner's Bill of Rights requiring all applications and disputes be processed in a reasonably expeditious manner with written procedures and timelines, with written decisions that include reasons (except when approval is granted).

Mandates election results with vote tallies be posted within one business day in a prominent location accessible to all unit owners.

Requires board of managers to fill vacancies within 60 days if the vacancy occurs more than six months before the annual meeting, and board members who sell their units must resign by the closing date.

Requires complete and accurate financial statements provided at least annually, including balance sheets and statements of income and expense for the three most current fiscal years, with attached disclosures of board members' conflicts of interest and gifts over $100 from suppliers.

Grants unit owners access to board meeting minutes, financial records, bank statements, competitive bids over $5,000, consultant reports, and inspection records, with the Attorney General authorized to enforce these rights and promulgate a handbook explaining procedures within six months.