New York S 9576: Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies

Bill Text

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S09576 Summary:

BILL NOS09576 

&nbsp

SAME ASSAME AS A10768

&nbsp

SPONSORBAILEY

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §13-c, Pub Hous L

&nbsp

Relates to elections involving board members, by-law amendments, or dissolution, reconstitution or conversion of mutual housing companies; provides that ballots shall be cast electronically to a neutral third party; provides that by-laws approved by shareholders and the commissioner of housing or supervising agency may limit eligibility for being a candidate for board of directors of a mutual housing company; relates to quorum for purposes of an election of board members in certain mutual housing companies.

Go to top S09576 Actions:

BILL NOS09576 

&nbsp

03/25/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

06/02/2026COMMITTEE DISCHARGED AND COMMITTED TO RULES

06/02/2026ORDERED TO THIRD READING CAL.1563

06/02/2026PASSED SENATE

06/02/2026DELIVERED TO ASSEMBLY

Go to topS09576 Committee&nbspVotes:

Go to topS09576 Floor&nbspVotes:

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

Go to topS09576 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9576

 IN SENATE

 March 25, 2026
 ___________

 Introduced by Sen. BAILEY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development

 AN ACT to amend the private housing finance law, in relation to
 elections involving board members, by-law amendments, or dissolution,
 reconstitution or conversion of mutual housing companies

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

 1 Section 1. Subdivisions 1 and 5 of section 13-c of the private housing
 2 finance law, as amended by chapter 167 of the laws of 2022, are amended
 3 and a new subdivision 6 is added to read as follows:
 4 1. Any shareholder vote involving the election of board members,
 5 by-law amendments, or on dissolution or reconstitution or conversion of
 6 a mutual housing company including any votes for a special assessment
 7 pursuant to subdivisions one, two or three of section thirty-five-a of
 8 this article shall be conducted using secret ballots. Such ballots shall
 9 be cast electronically to a neutral third party not running for or
 10 supporting a candidate running for a position on the board of directors
 11 or having an interest in dissolution, reconstitution or conversion of
 12 the mutual housing company, or in-person by [tenants] shareholders enti-
 13 tled to vote in the project; unless such [tenant] shareholder casts such
 14 ballot using an absentee ballot issued pursuant to subdivision two of
 15 this section.
 16 5. [No] Unless otherwise provided in a by-law provision approved by
 17 the mutual housing company's shareholders and by the commissioner or
 18 supervising agency, no otherwise-eligible person shall be prevented from
 19 being a candidate for, being elected to, or serving on a board of direc-
 20 tors based solely on that person owing or having owed any amount of any
 21 form of arrears to the mutual housing company, unless, at the time of
 22 nomination, that person currently owes an amount of arrears greater than
 23 the equivalent of two months of that person's monthly maintenance.
 24 Nothing in this subdivision shall be construed to require or mandate any
 25 mutual housing company to adopt bylaws, rules, policies, or procedures
 26 restricting any person's eligibility to be nominated, elected, or serve

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15340-01-6

 S. 9576 2

 1 on a board of directors. [No grounds other than the above arrearages in
 2 excess of two months maintenance shall be a basis in itself to deny such
 3 eligibility to any person unless specifically incorporated in regu-
 4 lations promulgated by or procedures approved by the commissioner or
 5 supervising agency. Neither a mutual housing company nor the commission-
 6 er or the supervising agency may modify in any way the above limitation
 7 so as to restrict eligibility on the basis of fewer than two months of
 8 arrears.]
 9 6. Notwithstanding any other provision of law, a quorum for purposes
 10 of an election of board