Increases transparency in cooperative housing corporations by giving shareholders more rights to information of the co-op and limiting the powers of management companies and boards.
Permits cooperative housing corporations to directly obtain a shareholder's death certificate upon providing appropriate documentation of their creditor status.
Housing cooperatives; organization and operation provided for seniors, low and moderate income people, and limited equity cooperatives and leasing cooperatives for designated members.
Extends protections to tenants of cooperative housing entities by expanding the definition of landlord to include cooperative entities; defines cooperative entities.
Requires the board of directors of a residential cooperative housing corporation to notify applicants seeking to purchase shares of the corporation of the reason or reasons the board of directors has refused such request.
Requires the board of directors of a residential cooperative housing corporation to notify applicants seeking to purchase shares of the corporation of the reason or reasons the board of directors has refused such request.
Creates the cooperative and condominium ombudsperson program; authorizes the residential unit tax; establishes the cooperative and condominium ombudsperson program fund.
Establishes the bank of Rochester, including provisions related to definitions; sponsors and corporate structure; powers and restrictions; governance; charter requirements; financial and operations frameworks; transparency and financial reporting; insurance; deposits; policy mandates; ethics and financial disclosure; inconsistency with other laws; and owners not to be considered bank holding companies.
Establishes the bank of Rochester, including provisions related to definitions; sponsors and corporate structure; powers and restrictions; governance; charter requirements; financial and operations frameworks; transparency and financial reporting; insurance; deposits; policy mandates; ethics and financial disclosure; inconsistency with other laws; and owners not to be considered bank holding companies.