Establishes a land bank in cities with eight million or more residents through a local law by the city council, limiting board membership to eleven.

New York S03703 amends the not-for-profit corporation law to allow cities with eight million or more residents to create a land bank. This is done by adopting a local law through the city council. The bill specifies that the board of directors for this land bank must consist of an odd number of members, not fewer than five and not more than eleven. The act takes effect immediately upon adoption.

Establishes a land bank in cities with eight million or more residents through a local law by the city council, limiting board membership to eleven.

New York S03703 amends the not-for-profit corporation law to allow cities with eight million or more residents to create a land bank. This is done by adopting a local law through the city council. The bill specifies that the board of directors for this land bank must consist of an odd number of members, not fewer than five and not more than eleven. The act takes effect immediately upon adoption.