Includes certain cooperative or limited-profit housing companies for purposes of conversions to cooperative or condominium ownership in the city of New York.
STATE OF NEW YORK
________________________________________________________________________
10876
IN ASSEMBLY
April 8, 2026
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Housing
AN ACT to amend the general business law, in relation to cooperative or
limited-profit housing companies and conversions to cooperative or
condominium ownership in the city of New York
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (a) of subdivision 1 of section 352-eeee of the
2 general business law, as amended by section 5 of part GG of chapter 56
3 of the laws of 2025, is amended to read as follows:
4 (a) "Plan". Every offering statement or prospectus submitted to the
5 department of law pursuant to section three hundred fifty-two-e of this
6 article for the conversion of a building or group of buildings or devel-
7 opment from residential rental status to cooperative or condominium
8 ownership or other form of cooperative interest in realty, other than an
9 offering statement or prospectus for such conversion pursuant to section
10 three hundred fifty-two-eeeee of this article or article two, eight or
11 eleven of the private housing finance law. However, a conversion pursu-
12 ant to article two, eight or eleven of the private housing finance law
13 shall be a covered plan under this section if the building or group of
14 buildings to be converted is already, prior to conversion, a cooperative
15 or limited-profit housing company organized under any article of the
16 private housing finance law.
17 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14518-01-6
