New York A 1505: Establishes a residential condominium owner's bill of rights

Bill Text

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A01505 Summary:

BILL NOA01505 

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SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

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MLTSPNSR

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Add §352-eeeee, Gen Bus L; add §708-a, BC L

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Enacts a bill of rights for owners of residential condominium units to provide fair and equitable treatment of all unit owners; directs the attorney general to promulgate a handbook summary of the rights of unit owners vis-a-vis condominium associations and the procedures and processes available to unit owners to enforce such rights.

Go to top A01505 Actions:

BILL NOA01505 

&nbsp

01/10/2025referred to housing

01/07/2026referred to housing

Go to topA01505 Committee&nbspVotes:

Go to topA01505 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01505 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1505

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Housing

 AN ACT to amend the general business law and the business corporation
 law, in relation to enactment of a residential condominium and cooper-
 ative owner's bill of rights

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The general business law is amended by adding a new section
 2 352-eeeee to read as follows:
 3 § 352-eeeee. Residential condominium owner's bill of rights. The
 4 organizational and operating documents of every residential condominium
 5 established or operating pursuant to the laws of the state shall guaran-
 6 tee the following to each unit owner:
 7 1. That (a) all applications by unit owners in connection with matters
 8 which require approval of the board of managers and (b) all requests for
 9 determinations by the board of managers including but not limited to
 10 requests for the resolution of disputes between or among unit owners,
 11 disputes between unit owners and the condominium association such as
 12 disputes concerning responsibility for repairs shall be processed in a
 13 reasonably expeditious manner pursuant to uniform procedures and timeta-
 14 bles adopted in writing. The board's decision shall be in writing and
 15 shall set forth the reasons therefor, except that no reason shall be
 16 required when approval is granted.
 17 2. That the final results of elections for the board of managers
 18 including a tally of the votes received by each candidate shall be post-
 19 ed within one business day following the availability of such informa-
 20 tion in a prominent place accessible to all unit owners in each building
 21 comprising the condominium.
 22 3. That the board of managers shall call a meeting to fill any vacan-
 23 cies which occur on such board within sixty days of the occurrence of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04638-01-5

 A. 1505 2

 1 such vacancy if the vacancy occurs more than six months prior to the
 2 annual meeting of unit owners.
 3 4. That any member of a board of managers who is elected while a unit
 4 owner in the condominium, who sells their apartment, and who, subsequent
 5 to such sale shall no longer be a unit owner in such condominium, shall
 6 resign from such board no later than the closing date of such sale.
 7 5. That complete and accurate financial statements and any other
 8 statements ordinarily provided to unit owners be provided in a timely
 9 fashion pursuant to established timetables at least once annually. For
 10 the purposes of this subdivision "financial statements" shall include
 11 the balance sheets and statements of income and expense for each of the
 12 three most current fiscal years. Attached to said financial statements
 13 shall be a statement which discloses (a) any controlling interest or
 14 employee or agency relationship which any board member or officer of the
 15 condominium association or the spouse of such person has in or with any
 16 supplier of services or materials to said condominium and (b) any
 17 consideration the value of which exceeds one hundred dollars which any
 18 such board member or officer or the spouse of such person receives from
 19 such supplier.
 20 6. That the f