New York S06346 mandates cooperative housing corporations to provide a written statement of reasons when withholding consent to a sale.

New York S06346 amends the civil rights law to ensure that cooperative housing corporations must provide a prospective purchaser with a written statement of reasons when withholding consent to a sale. This requirement applies to every sale or proposed sale, whether by a corporation directly, its successor in interest, or any other lawfully entitled party. Any agreement inconsistent with this requirement is void and unenforceable. The bill aims to address concerns of unlawful rejection by boards of directors and potential discrimination in the cooperative housing market.

New York S06346 mandates cooperative housing corporations to provide a written statement of reasons when withholding consent to a sale.

New York S06346 amends the civil rights law to ensure that cooperative housing corporations must provide a prospective purchaser with a written statement of reasons when withholding consent to a sale. This requirement applies to every sale or proposed sale, whether by a corporation directly, its successor in interest, or any other lawfully entitled party. Any agreement inconsistent with this requirement is void and unenforceable. The bill aims to address concerns of unlawful rejection by boards of directors and potential discrimination in the cooperative housing market.