CNYC | Attorney General Seeks Input on Conversion Issues

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Sponsor & Conversion Issues

Published: Winter 1998

ATTORNEY GENERAL SEEKS INPUT ON CONVERSION ISSUES

Attorney General Vacco's office has circulated a questionnaire seeking input from the cooperative and condominium community regarding conversion issues. Here is a unique opportunity to influence the priorities of the AG's office. If your cooperative or condominium feels strongly about one or more of these issues, you can intensify the power of public opinion by distributing copies of the questionnaire to all your shareholders or unit owners and asking that they also reply to the Attorney General, identifying the goals they hold most important.

During the early 1990's, when virtually no conversions were taking place, CNYC argued repeatedly for improvements in conversion law so that future cooperatives and condominium would be guaranteed viability. But there was little interest. Now that conversions are beginning again, CNYC seeks greater resident subscription, early resident control of the board, clear definition of the rights and responsibilities of sponsors, and clarity of purpose on selling all units until the conversion is complete. This last issue is perhaps the most urgent at this time.

CNYC has made a hard copy of the questionnaire available in its Newsletter and on the CNYC Website. To view and print the form, click here. Please note that the form is a large graphic, and may take a few moments to download.

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CNYC
250 West 57th Street, Suite 730
New York, NY 10107-0730
Tel: (212) 496-7400
Fax: (212) 580-7801
E-mail: info@cnyc.coop