Increases transparency in cooperative housing corporations by giving shareholders more rights to information of the co-op and limiting the powers of management companies and boards.
Increases transparency in cooperative housing corporations by giving shareholders more rights to information of the co-op and limiting the powers of management companies and boards.
Expands documentation requirements for limited-profit housing companies when providing information to the commissioner of housing of the state of New York and any relevant supervising agency.
Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.
Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.
Includes certain cooperative or limited-profit housing companies for purposes of conversions to cooperative or condominium ownership in the city of New York.
Requires annual inspections of Mitchell-Lama buildings; requires the appointment of housing management representatives to perform such inspections; requires notification of violations to housing companies; requires such housing companies to certify correction of violations.
Prohibits real property that has converted from a limited-profit housing company to a housing development fund company from being eligible for a shelter rent tax abatement.
Provides that fees may be sought in certain summary proceedings between a cooperative housing corporation and a shareholder or occupant when the lease or occupancy agreement provides for the recovery of fees, legal fees, charges, surcharges, penalties, or assessments other than rent.