Requires the board of directors of a 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
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 15, 2025
Last action Jan 7, 2026
Maddy AI version diff · 1 comparison
What changed between versions
S2098
→
S2098A
·
4 edits
MODERATE
The bill was amended to expand its scope from only the general business law to include both the business corporation law and the not-for-profit corporation law. This change ensures the new requirement for boards of directors to notify applicants of share purchase denials applies to residential cooperative apartment corporations incorporated under either of these two laws, rather than just one.
Scope change
The bill now applies to residential cooperative apartment corporations incorporated under both the business corporation law and the not-for-profit corporation law, whereas previously it only applied to those under the general business law.
SCOPE
The bill's title and text were changed to amend both the business corporation law and the not-for-profit corporation law instead of only the general business law.
REQUIREMENT
A new section was added to the not-for-profit corporation law (section 519-b) mirroring the existing requirement in the business corporation law (section 728) for boards to notify applicants of share purchase denials.
TECHNICAL
The reference to the general business law was removed from the act's title and section 1, as the requirement is now codified in two separate laws.
The bill number was updated from S 2098 to S 2098--A to reflect the amended version.
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
4
Key actions
2
Committee
2
Amendments
2
Jan 7, 2026
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
Jun 9, 2025
Upper · Passed
PRINT NUMBER 2098A
upper
Jun 9, 2025
Upper · Passed
AMEND (T) AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
Jan 15, 2025
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Brian Kavanagh
DDemocratic
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