Loading chat...
NY A07090
Bill
Status
3/20/2025
Primary Sponsor
Rodneyse Bichotte Hermelyn
Click for details
AI Summary
-
Requires boards of directors of residential cooperative housing corporations to provide written notification to applicants when denying their request to purchase shares allocated to a dwelling unit
-
Mandates that the written denial include the specific reason or reasons for rejecting the purchase request
-
Sets a 30-day deadline for boards to provide the written explanation following their decision to deny an application
-
Applies to cooperative housing corporations incorporated under both the Business Corporation Law and the Not-for-Profit Corporation Law
-
Takes effect immediately upon enactment
Legislative Description
Requires the board of directors of a residential cooperative housing 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 ways and means
1/7/2026