New York A10983 mandates at least one director on a residential cooperative housing corporation's board be a primary resident and prohibits charging.

New York A10983 amends the business corporation law and the not-for-profit corporation law to require at least one director on a board of directors of a residential cooperative housing corporation be a primary resident of that corporation. It also amends the real property law to prohibit cooperative housing corporations from charging payments, fees, or charges to tenants who are dwelling unit owners or shareholders without providing 30 days' written notice to the shareholders.

New York A10983 mandates at least one director on a residential cooperative housing corporation's board be a primary resident and prohibits charging.

New York A10983 amends the business corporation law and the not-for-profit corporation law to require at least one director on a board of directors of a residential cooperative housing corporation be a primary resident of that corporation. It also amends the real property law to prohibit cooperative housing corporations from charging payments, fees, or charges to tenants who are dwelling unit owners or shareholders without providing 30 days' written notice to the shareholders.