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S04956 Summary:

S04956 Actions:

S04956 Committee Votes:

S04956 Floor Votes:

S04956 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         4956--A
            Cal. No. 1144
 
                               2019-2020 Regular Sessions
 
                    IN SENATE
 
                                      April 2, 2019
                                       ___________
 
        Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Corporations,  Authorities
          and Commissions -- committee discharged and said bill committed to the
          Committee  on Rules -- ordered to a third reading, amended and ordered
          reprinted, retaining its place in the order of third reading
 
        AN ACT to amend the business  corporation  law  and  the  not-for-profit
          corporation  law,  in  relation to requiring the board of directors of
          residential cooperative corporations and  not-for-profit  corporations
          to  provide  tenants with changes to the by-laws in writing within ten
          days of adoption; in relation to notification to  tenants  of  changes
          affecting occupancy or the rules of the building
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Section 708 of the business corporation law is  amended  by
     2  adding two new subdivisions (e) and (f) to read as follows:
     3    (e) In the case of corporations owning or leasing residential premises
     4  and  operating  the  same  on a cooperative basis, changes including the
     5  adoption, amendment or repeal of the by-laws by the board  of  directors
     6  shall  be  provided  to the members, stockholders, and delegates of such
     7  corporation in writing, by physical or electronic means, within ten days
     8  of such adoption.
     9    (f) Upon the adoption, amendment or repeal of by-laws by the board  of
    10  directors  of  a  corporation owning or leasing residential premises and
    11  operating the same on a cooperative basis pursuant to subdivision (e) of
    12  this section, where such change would have a direct effect on the  resi-
    13  dent's  occupancy  or  the rules of the building, the board of directors
    14  shall post the adopted, amended, or repealed  by-laws  conspicuously  to
    15  ensure tenants will be aware of such adoption.
    16    §  2.  Section 602 of the not-for-profit corporation law is amended by
    17  adding a new paragraph (g) to read as follows:
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01517-03-9
        S. 4956--A                          2
 
     1    (g) In the case of residential  not-for-profit  corporations,  changes
     2  including  the adoption, amendment or repeal of the by-laws by the board
     3  of directors shall be provided to the members, stockholders, and  deleg-
     4  ates  of  such  corporation in writing, by physical or electronic means,
     5  within ten days of such adoption.
     6    §  3.  The  not-for-profit  corporation law is amended by adding a new
     7  section 624 to read as follows:
     8  § 624. Notification to tenants.
     9    Upon the adoption, amendment or repeal of the by-laws by the board  of
    10  directors pursuant to paragraph (g) of section 602 (By-laws), where such
    11  change  would  have  a  direct effect on the resident's occupancy or the
    12  rules of the building, the board of directors shall  post  the  adopted,
    13  amended,  or  repealed  by-laws  conspicuously to ensure tenants will be
    14  aware of such adoption.
    15    § 4. This act shall take effect on the sixtieth  day  after  it  shall
    16  have become a law.