Increases transparency in cooperative housing corporations

Summary

The measure adds Article 9 to the state's cooperative corporations law, setting standards for board meetings, budgeting, and disclosure of expenses. It gives members more power to remove management companies and requires open bidding for large repairs. The changes aim to give owners and residents clearer information and greater control over their cooperatives.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share