New York S09576 amends the private housing finance law to change election processes for mutual housing companies.

New York S09576 amends the private housing finance law to require that ballots for elections involving board members, by-law amendments, or dissolution, reconstitution, or conversion of mutual housing companies be cast electronically to a neutral third party. It also allows by-laws approved by shareholders and the commissioner or supervising agency to limit eligibility for being a candidate for board of directors of a mutual housing company. Additionally, it sets a quorum requirement for elections of board members in mutual housing companies consisting of one thousand or more shareholders.

New York S09576 amends the private housing finance law to change election processes for mutual housing companies.

New York S09576 amends the private housing finance law to require that ballots for elections involving board members, by-law amendments, or dissolution, reconstitution, or conversion of mutual housing companies be cast electronically to a neutral third party. It also allows by-laws approved by shareholders and the commissioner or supervising agency to limit eligibility for being a candidate for board of directors of a mutual housing company. Additionally, it sets a quorum requirement for elections of board members in mutual housing companies consisting of one thousand or more shareholders.