Bill Text: NY A03037 | 2017-2018 | General Assembly | Amended
Bill Title: Allows members of a homeowners association to review books and records and documents related to the expenditure of homeowners association dues.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Passed) 2017-10-23 - signed chap.343 [A03037 Detail]
Download: New_York-2017-A03037-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 3037--B 2017-2018 Regular Sessions IN ASSEMBLY January 24, 2017 ___________ Introduced by M. of A. SKOUFIS, HOOPER, SEPULVEDA, COOK -- Multi-Spon- sored by -- M. of A. LOPEZ -- read once and referred to the Committee on Corporations, Authorities and Commissions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee AN ACT to amend the not-for-profit corporation law, in relation to the right of a member of a homeowners association to review books and records The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 621 of the not-for-profit corporation law is 2 amended by adding a new paragraph (e-1) to read as follows: 3 (e-1) In addition to those documents described in paragraph (e) of 4 this section, members of a homeowners association incorporated pursuant 5 to the provisions of this chapter shall also be entitled to review, upon 6 request to the homeowners association's governing board, invoices, 7 ledgers, bank accounts, reconciliations, contracts, and any documents 8 related to the expenditure of homeowners association dues. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD06281-05-7