N.Y. Private Housing Finance Law Section 13-C
Voting, election and referendum procedures


1.

Any shareholder vote involving the election of board members, by-law amendments, or on dissolution or reconstitution or conversion of a mutual housing company including any votes for a special assessment pursuant to subdivisions one, two or three of § 35-A (Requirements regarding dissolution)section thirty-five-a of this article shall be conducted using secret ballots. Such ballots shall be cast in-person by tenants entitled to vote in the project; unless such tenant casts such ballot using an absentee ballot issued pursuant to subdivision two of this section.

2.

Any shareholder entitled to vote may request an absentee ballot to cast a ballot in any shareholder vote. Such an absentee ballot may be delivered or mailed only to the primary residence address of the shareholder entitled to vote in the project. An absentee ballot cast pursuant to this subdivision shall be sealed within two envelopes and shall be mailed or delivered to a neutral third party not running for a position on the board of directors. The outer envelope containing the ballot shall instruct the shareholder to affix their signature to the outer envelope only, and further instruct the shareholder not to sign the ballot itself.

3.

Proxy voting shall not be permitted in a vote for a position on a board of directors, for dissolution or reconstitution of the mutual housing company, for the authorization of a feasibility study, for the authorization to develop and submit to the attorney general an offering plan for dissolution and reconstitution of the mutual housing company, for the authorization to develop and submit to the attorney general a proxy statement or any other documents permitted by the attorney general instead of such offering plan, or any other vote relating to dissolution or reconstitution required by the regulations of the commissioner or supervising agency, or for an assessment approved pursuant to § 35-A (Requirements regarding dissolution)section thirty-five-a of this article to fund the development, submission, completion, or distribution of any of the aforementioned documents.

4.

All ballots shall produce a paper or electronic record which may be audited in the case of a contested election result.

5.

No otherwise-eligible person shall be prevented from being a candidate for, being elected to, or serving on a board of directors based solely on that person owing or having owed any amount of any form of arrears to the mutual housing company, unless, at the time of nomination, that person currently owes an amount of arrears greater than the equivalent of two months of that person’s monthly maintenance. Nothing in this subdivision shall be construed to require or mandate any mutual housing company to adopt bylaws, rules, policies, or procedures restricting any person’s eligibility to be nominated, elected, or serve on a board of directors. No grounds other than the above arrearages in excess of two months maintenance shall be a basis in itself to deny such eligibility to any person unless specifically incorporated in regulations promulgated by or procedures approved by the commissioner or supervising agency. Neither a mutual housing company nor the commissioner or the supervising agency may modify in any way the above limitation so as to restrict eligibility on the basis of fewer than two months of arrears.

Source: Section 13-C — Voting, election and referendum procedures, https://www.­nysenate.­gov/legislation/laws/PVH/13-C (updated Apr. 1, 2022; accessed Jul. 13, 2024).

10
Short title
11
Policy and purposes of article
11‑A
Additional policy and purposes of article
12
Definitions
13
Limited-profit housing companies
13‑A
The applicability of not-for-profit corporation law
13‑B
Verification of papers filed with supervising agency
13‑C
Voting, election and referendum procedures
14
Consent of commissioner to incorporation
15
Participation by certain corporations and individuals
16
Limited-profit housing companies
17
Powers
18
Designation of and service of process on secretary of state and registered agent
19
Consideration for issuance of stock, bonds or income debentures
20
Mortgages, mortgage bonds and notes
21
Capital structure
22
State loans
22‑A
Redevelopment loans
22‑B
Loans for state-aided limited-profit housing companies
23
Municipal loans and municipally aided projects
23‑A
Mortgage modifications, evidence of pre-existing indebtedness
23‑B
Participation in loan or investment
23‑C
Mortgage modifications
24
Income debentures
25
Working capital
26
Conditions and security for loans
26‑A
Findings for municipally-aided projects
26‑B
Special provisions with respect to state urban development corporation projects
26‑C
Special provisions with respect to Battery Park city projects
27
Limitations
28
Payments from earnings
29
Acquisition of property
30
Transfer of real property
31
Rentals and selection of tenants
31‑A
Resale price of shares
31‑B
Assignment or pledge of tenant cooperator’s shares
31‑C
Tenant-cooperators
32
Supervision and regulation
32‑A
Additional supervision and regulation
32‑B
Annual reports
33
Tax exemptions
34
Foreclosure and judgments
35
Voluntary dissolution
35‑A
Requirements regarding dissolution
36
Sale of project prior to termination of tax exemption
36‑A
Additional powers of municipalities
37
Separability clause

Accessed:
Jul. 13, 2024

Last modified:
Apr. 1, 2022

§ 13-C’s source at nysenate​.gov

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