Enacts the "fairness in cooperative homeownership act" to regulate the submission and determinations of applications for ownership of cooperative.

The bill enacts the "fairness in cooperative homeownership act," which regulates the submission and determinations of applications for ownership of cooperative apartments. It mandates that cooperative corporations maintain a standardized application and list of requirements for cooperative apartments. Prospective purchasers must submit applications via registered mail, including a mailing address and email address. Cooperative corporations must acknowledge receipt of applications within ten business days, specifying whether the application is complete.

Enacts the "fairness in cooperative homeownership act" to regulate the submission and determinations of applications for ownership of cooperative.

The bill enacts the "fairness in cooperative homeownership act," which regulates the submission and determinations of applications for ownership of cooperative apartments. It mandates that cooperative corporations maintain a standardized application and list of requirements for cooperative apartments. Prospective purchasers must submit applications via registered mail, including a mailing address and email address. Cooperative corporations must acknowledge receipt of applications within ten business days, specifying whether the application is complete.