What's happening
This bill allows members of homeowners associations in New York to request and review financial documents related to association dues.
Why it matters
Empowers homeowners. By granting association members the right to access detailed financial records, this bill enables homeowners to better understand how their dues are being used and to hold association leadership accountable.
Increases financial transparency. The required disclosure of invoices, bank records, contracts, and other documents ensures that homeowners can see specifics about spending, potentially deterring mismanagement or misuse of funds.
Supports informed participation. With access to comprehensive financial information, homeowners can make more informed decisions and raise concerns at meetings, strengthening their ability to influence how their community is run.
Promotes trust and reduces conflict. Transparency in financial matters can help build trust between homeowners and association boards, reducing suspicion and the likelihood of disputes or legal challenges over financial management.
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Who cares
Headline styles
Let Homeowners See HOA Records
Plain English, a few words. Used as the page title.
Sponsors
History
- Signed chap.343
- Delivered to governor
- Returned to assembly
- Passed senateVote 63–0
- 3rd reading cal.2080
- Substituted for S6648
- Referred to rules
- Delivered to senate
- Passed assembly
- Ordered to third reading rules cal.326
- Rules report cal.326
- Reported
Show 6 earlier actions
- Reported referred to rules
- Print number 3037b
- Amend (t) and recommit to corporations, authorities and commissions
- Print number 3037a
- Amend (t) and recommit to corporations, authorities and commissions
- Referred to corporations, authorities and commissions
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Let Homeowners See HOA Records
Senate Floor Calendar · Sponsor William J. Larkin Jr.
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3037--B
2017-2018 Regular Sessions
IN ASSEMBLY
January 24, 2017
Introduced by M. of A. SKOUFIS, HOOPER, SEPULVEDA, COOK -- Multi-Sponsored by -- M. of A. LOPEZ -- read once and referred to the Committee on Corporations, Authorities and Commissions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee
AN ACT to amend the not-for-profit corporation law, in relation to the right of a member of a homeowners association to review books and records
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 621 of the not-for-profit corporation law is amended by adding a new paragraph (e-1) to read as follows:
(e-1) In addition to those documents described in paragraph (e) of this section, members of a homeowners association incorporated pursuant to the provisions of this chapter shall also be entitled to review, upon request to the homeowners association's governing board, invoices, ledgers, bank accounts, reconciliations, contracts, and any documents related to the expenditure of homeowners association dues.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06281-05-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.