Bill Text: NY A06870 | 2015-2016 | General Assembly | Introduced
Bill Title: Requires the board of directors of residential cooperative corporations and not-for-profit corporations to provide members, stockholders, and delegates with changes to the by-laws in writing within ten days of adoption; requires notification to tenants of changes affecting occupancy or the rules of the building.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2016-01-06 - referred to housing [A06870 Detail]
Download: New_York-2015-A06870-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
6870
2015-2016 Regular Sessions
I N A S S E M B L Y
April 8, 2015
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Housing
AN ACT to amend the cooperative corporations 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 members, stockholders, and delegates with changes to the
by-laws in writing within ten days of adoption; in relation to notifi-
cation 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 16 of the cooperative corporations law is amended
2 to read as follows:
3 S 16. By-laws. 1. The by-laws may provide for their amendment by the
4 board of directors; but any amendment adopted by the board shall be
5 reported to the annual meeting of the corporation and, if not affirma-
6 tively approved thereat, shall cease to be in effect. By-laws may be
7 adopted, repealed or amended on the affirmative vote of two-thirds of
8 the members, stockholders or delegates voting thereon at a meeting held
9 after due written notice setting forth the proposed action and the
10 purpose of the meeting.
11 2. IN THE CASE OF RESIDENTIAL COOPERATIVE CORPORATIONS, CHANGES
12 INCLUDING THE ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD
13 OF DIRECTORS SHALL BE PROVIDED TO THE MEMBERS, STOCKHOLDERS, AND DELEG-
14 ATES OF SUCH CORPORATION IN WRITING WITHIN TEN DAYS OF SUCH ADOPTION.
15 S 2. The cooperative corporations law is amended by adding a new
16 section 78 to read as follows:
17 S 78. NOTIFICATION TO TENANTS. MEMBERS, STOCKHOLDERS AND DELEGATES WHO
18 POSSESS UNITS IN A RESIDENTIAL COOPERATIVE CORPORATION SHALL NOTIFY
19 TENANTS WITHIN TEN DAYS OF RECEIPT OF NOTIFICATION OF THE ADOPTION,
20 AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD OF DIRECTORS PURSUANT TO
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06920-03-5
A. 6870 2
1 SUBDIVISION TWO OF SECTION SIXTEEN OF THIS CHAPTER, WHERE SUCH CHANGE
2 WOULD HAVE A DIRECT EFFECT ON THE TENANT'S OCCUPANCY OR THE RULES OF THE
3 BUILDING.
4 S 3. Section 602 of the not-for-profit corporation law is amended by
5 adding a new paragraph (g) to read as follows:
6 (G) IN THE CASE OF RESIDENTIAL NOT-FOR-PROFIT CORPORATIONS, CHANGES
7 INCLUDING THE ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD
8 OF DIRECTORS SHALL BE PROVIDED TO THE MEMBERS, STOCKHOLDERS, AND DELEG-
9 ATES OF SUCH CORPORATION IN WRITING WITHIN TEN DAYS OF SUCH ADOPTION.
10 S 4. The not-for-profit corporation law is amended by adding a new
11 section 624 to read as follows:
12 S 624. NOTIFICATION TO TENANTS. MEMBERS, STOCKHOLDERS AND DELEGATES
13 WHO POSSESS UNITS IN A RESIDENTIAL NOT-FOR-PROFIT CORPORATION SHALL
14 NOTIFY TENANTS WITHIN TEN DAYS OF RECEIPT OF NOTIFICATION OF THE
15 ADOPTION, AMENDMENT OR REPEAL OF THE BY-LAWS BY THE BOARD OF DIRECTORS
16 PURSUANT TO PARAGRAPH (G) OF SECTION SIX HUNDRED TWO OF THIS ARTICLE,
17 WHERE SUCH CHANGE WOULD HAVE A DIRECT EFFECT ON THE TENANT'S OCCUPANCY
18 OR THE RULES OF THE BUILDING.
19 S 5. This act shall take effect on the sixtieth day after it shall
20 have become a law.
