Bill Text: NY S04626 | 2013-2014 | 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: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S04626 Detail]

Download: New_York-2013-S04626-Introduced.html

---

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4626
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                    April 16, 2013
                                      ___________
       Introduced  by  Sen.  BOYLE  -- read twice and ordered printed, and when
         printed to be committed to the Committee on Corporations,  Authorities
         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    S 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 SIXTEEN OF SECTION SIXTY-THREE OF THE EXECUTIVE LAW.
    8  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    S 2. Section 63 of the executive law is amended by adding a new subdi-
   14  vision 16 to read as follows:
   15    16. 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    S  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.
                                                                  LBD09440-01-3