S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1084
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 10, 2017
                                ___________
 
 Introduced  by  M.  of  A.  DINOWITZ,  KAVANAGH, COLTON -- read once and
   referred to the Committee on Housing
 
 AN ACT to amend the general business law, in relation  to  the  managing
   agent of a cooperative apartment building or condominium units
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraphs (iv) and (v) of subdivision 1 of section  352-ee
 of  the  general  business  law,  as added by chapter 509 of the laws of
 1978, are amended and a new paragraph (vi) is added to read as follows:
   (iv) a statement, satisfactory to the attorney general, that it is the
 obligation of the sponsor to complete all alterations  and  improvements
 to  individual spaces or dwelling units in compliance with such approved
 plans within the time specified in the plan or, if the sponsor does  not
 undertake  such  obligation, that it is the obligation of the individual
 owners of shares in the cooperative corporation or of condominium units,
 under the supervision of the cooperative corporation or, in the case  of
 a  condominium,  under  the  supervision  of  the  board of managers, to
 complete such alterations and improvements within the time specified  in
 the plan; [and]
   (v)  a statement that a permanent certificate of occupancy is required
 for permanent residential use of the premises, that a temporary  certif-
 icate  of  occupancy may only be renewed for a total period of two years
 from the date of its  original  issuance  and  that,  if  the  temporary
 certificate  of occupancy shall have expired prior to obtaining a perma-
 nent certificate of occupancy, residential  occupancy  of  the  premises
 will  be in violation of the multiple dwelling law, subjecting the occu-
 pants and the cooperative corporation and its board of directors or,  in
 the  case  of  a  condominium, the unit owners and board of managers, to
 penalties under the multiple dwelling law including eviction of residen-
 tial occupants[.]; AND

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03565-01-7
              

 A. 1084                             2
 
   (VI) A STATEMENT THAT THE SPONSOR SHALL NOT ACT AS THE MANAGING  AGENT
 OF  SUCH COOPERATIVE APARTMENT BUILDING OR CONDOMINIUM UNITS EXCEPT UPON
 A VOTE OF TWO-THIRDS OF THE TOTAL MEMBERSHIP OF THE STOCKHOLDERS.
   §  2.  Subdivision 2 of section 352-eee of the general business law is
 amended by adding a new paragraph (g) to read as follows:
   (G) THE PLAN PROVIDES THAT THE SPONSOR SHALL NOT ACT AS  THE  MANAGING
 AGENT OF SUCH COOPERATIVE APARTMENT BUILDING OR CONDOMINIUM UNITS EXCEPT
 UPON A VOTE OF TWO-THIRDS OF THE TOTAL MEMBERSHIP OF THE STOCKHOLDERS.
   §  3. Subdivision 2 of section 352-eeee of the general business law is
 amended by adding a new paragraph (g) to read as follows:
   (G) THE PLAN PROVIDES THAT THE SPONSOR SHALL NOT ACT AS  THE  MANAGING
 AGENT OF SUCH COOPERATIVE APARTMENT BUILDING OR CONDOMINIUM UNITS EXCEPT
 UPON A VOTE OF TWO-THIRDS OF THE TOTAL MEMBERSHIP OF THE STOCKHOLDERS.
   §  4.  This act shall take effect immediately, provided, however, that
 the amendments to sections 352-eee and 352-eeee of the general  business
 law  made  by  sections  two  and three of this act shall not affect the
 expiration of such sections and shall be deemed to expire therewith.