Enacts the "fairness in cooperative homeownership act"; regulates the submission and determinations of applications for ownership of cooperative apartments.
Enacts the "fairness in cooperative homeownership act"; regulates the submission and determinations of applications for ownership of cooperative apartments.
Requires a uniform process for considering applications to purchase condominiums or cooperatives.
Relates to the disclosure of information on the fiscal health of a condominium, cooperative apartment building or cooperative community to prospective buyers, current owners and the condominium board or the cooperative board.
Clarifies the exemption for cooperative housing corporations where there is no change in beneficial ownership.
Extends the transitional assessed value of parcels held in cooperative or condominium forms of ownership to twelve years.
Establishes the right to inspection of residential real properties, condominium units, and cooperative apartments.
Enacts the "limited equity cooperative insurance captive authorization and county cap act" to enable limited equity cooperatives in the state of New York to establish insurance captives to enhance their ability to manage risks, improve insurance coverage, and promote financial stability.
Adds employee-owned enterprises and worker cooperatives to the list of preferred contractors for public contracts in the state; authorizes such enterprises and cooperatives to make certain purchases from centralized contracts for commodities, subject to conditions of the office of general services; authorizes the comptroller to conduct certain audits of employee-owned enterprises and worker cooperatives.
Adds employee-owned enterprises and worker cooperatives to the list of preferred contractors for public contracts in the state; authorizes such enterprises and cooperatives to make certain purchases from centralized contracts for commodities, subject to conditions of the office of general services; authorizes the comptroller to conduct certain audits of employee-owned enterprises and worker cooperatives.