What's happening
This bill allows members of homeowners associations to review financial documents and records related to the use of association dues.
Why it matters
Increases financial transparency. for homeowners association (HOA) members by mandating access to detailed financial records, such as invoices, ledgers, bank accounts, reconciliations, and contracts—allowing members to see exactly how their dues are being spent.
Empowers homeowners in HOAs. to hold their governing boards accountable, potentially reducing the risk of mismanagement, fraud, or misuse of association funds.
May lead to improved trust and communication. between HOA boards and members, as required disclosure can help resolve disputes and clarify how financial decisions are made.
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Who cares
Headline styles
Let Homeowners See HOA Records
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Substituted by A3037B
- Ordered to third reading cal.2080
- Referred to rules
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
Signed by Governor · Sponsor James Skoufis
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6648
2017-2018 Regular Sessions
IN SENATE
June 9, 2017
Introduced by Sen. LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Rules
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.
LBD06281-06-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
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
Purpose
Relates to a member's request to inspect the books and records of the corporation.
Summary of provisions
Section 1: Amends section 621 of the not-for-profit corporation law by adding a new paragraph that seeks to clarify what financial records are permitted to be inspected by members of a homeowners association.
Section 2: Effective Date.
Justification
To clarify what documents members of a homeowners association may examine upon request from a homeowners association's governing board.
Legislative history
New bill.
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.