Requires at least one director on a board of directors of a residential cooperative housing corporation be a primary resident of such residential cooperative housing corporation; prohibits the charging of payments, fees or charges by cooperative housing corporations without thirty days written notice to such cooperative housing corporation's shareholders.
Requires at least one director on a board of directors of a residential cooperative housing corporation be a primary resident of such residential cooperative housing corporation; prohibits the charging of payments, fees or charges by cooperative housing corporations without thirty days written notice to such cooperative housing corporation's shareholders.
Includes certain cooperative or limited-profit housing companies for purposes of conversions to cooperative or condominium ownership in the city of New York.
Clarifies how certain non-billing information regarding the delivery of water is disclosed to residents of cooperatives, condominiums or multi-family dwellings; requires water-works corporations to notify customers of their ability to receive non-billing related information.
Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.