Bill > A02382

This bill establishes a new dispute resolution mechanism for shareholders in residential cooperative housing. Specifically, the bill allows shareholders to appeal decisions made by their cooperative's board of directors to a hearing officer appointed by the attorney general. Under this new process, a shareholder can file an appeal with the Department of Law, and the hearing officer must schedule a hearing within 60 days of the filing. During the hearing, both the shareholder and the board of directors will have an opportunity to present their arguments and evidence. The hearing officer will then render a final determination based on the testimony and evidence presented. The attorney general will be responsible for appointing and empowering hearing officers to manage these disputes. The bill amends both the cooperative corporations law and the executive law to create this new appeals process, which will take effect on the first day of January following the bill's passage into law. This mechanism aims to provide residential cooperative shareholders with a more structured and accessible way to challenge board decisions they believe are unfair or inappropriate.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A2382