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
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