Bill Text: NY A05472 | 2017-2018 | General Assembly | Introduced

---

Bill Title: Provides for the appeal of disputes between shareholders and boards of directors of residential cooperatives to a hearing officer appointed by the attorney general.

Spectrum: Slight Partisan Bill (Republican 6-3)

Status: (Introduced - Dead) 2018-01-03 - referred to corporations, authorities and commissions [A05472 Detail]

Download: New_York-2017-A05472-Introduced.html

---

                STATE OF NEW YORK
        ________________________________________________________________________
                                          5472
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 9, 2017
                                       ___________
        Introduced  by  M.  of  A.  GARBARINO  -- Multi-Sponsored by -- M. of A.
          COLTON, COOK, FINCH, GRAF, LAVINE, LUPINACCI, MONTESANO,  PALUMBO,  RA
          --  read  once and referred to the Committee on Corporations, Authori-
          ties and Commissions
        AN ACT to amend the cooperative corporations law and the executive  law,
          in  relation  to  providing for the resolution of disputes between the
          board of directors  of  residential  cooperative  corporations  and  a
          shareholder  to  be  determined  by a hearing officer appointed by the
          attorney general
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. The cooperative corporations law is amended by adding a new
     2  section 78 to read as follows:
     3    §  78.  Disputes  to be heard by attorney general; residential cooper-
     4  ative. A shareholder in a cooperative corporation which owns residential
     5  real property may appeal any decision by  such  corporation's  board  of
     6  directors  to a hearing officer appointed by the attorney general pursu-
     7  ant to subdivision seventeen of section  sixty-three  of  the  executive
     8  law.  A hearing upon such appeal shall be heard within sixty days of the
     9  filing thereof with the department of law, with notice to the  board  of
    10  directors.  The  hearing officer shall provide each party an opportunity
    11  to be heard and render final determination based  on  the  evidence  and
    12  testimony presented at the hearing.
    13    § 2. Section 63 of the executive law is amended by adding a new subdi-
    14  vision 17 to read as follows:
    15    17.  Establish  an  appeals  process for the determination of disputes
    16  between shareholders and the boards of directors of  cooperative  corpo-
    17  rations  pursuant  to  section  seventy-eight  of the cooperative corpo-
    18  rations law. The attorney general shall appoint and empower such hearing
    19  officers as shall be necessary to hear and determine such appeals.
    20    § 3. This act shall take effect immediately, except that  section  one
    21  of  this  act  shall take effect on the first of January next succeeding
    22  the date on which it shall have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05392-01-7