Cooperative Housing Corporations and Condominiums - Emergency Use of Reserve Funds
Sponsor: Harry Bhandari (District 8)Committee: Rules and Executive NominationsSubject: Real PropertyStatus: First Reading House Rules and Executive Nominations (as of Sep 4, 2026)
What this bill does
Official synopsis
Providing that reserve funds of a cooperative housing corporation or condominium may be used for purposes other than those specified in the funding plan in an emergency and if the use of funds is approved by an affirmative vote of the members or unit owners having at least two-thirds of the votes in the cooperative housing corporation or the council of unit owners, respectively.
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Testimony (0)
MGA witness listNo witness list on file because no hearing has been scheduled.