Requires at least one director on a board of directors of a residential cooperative housing corporation be a primary resident of such residential cooperative housing corporation; prohibits the charging of payments, fees or charges by cooperative housing corporations without thirty days written notice to such cooperative housing corporation's shareholders.

New York Assembly Bill A10983, introduced by Assemblymember Keith Powers on April 14, 2026, aims to enhance transparency and accountability within residential cooperative housing corporations. The bill mandates that at least one director on the board of such corporations must be a primary resident, ensuring that the interests of residents are directly represented in governance. Additionally, it prohibits these corporations from imposing payments, fees, or charges on shareholders without providing a 30-day written notice, thereby safeguarding shareholders from unexpected financial obligations. ([legiscan.com](https://legiscan.com/NY/bill/A10983/2025?utm_source=openai))

While specific media coverage on Bill A10983 is currently limited, the proposed legislation is likely to be viewed favorably by residents and tenant advocacy groups. The requirement for a resident director aligns with efforts to ensure that housing decisions reflect the needs and concerns of those directly affected. The 30-day notice provision is also expected to be appreciated for promoting financial transparency and stability within cooperative housing communities.

Potential opposition to Bill A10983 may arise from cooperative housing corporations and property management entities concerned about the operational implications of the proposed changes. The stipulation for a resident director could be perceived as limiting the pool of eligible board members, potentially affecting the diversity of expertise available. The 30-day notice requirement might be viewed as an administrative burden, especially for corporations accustomed to implementing fees or charges more promptly. These stakeholders may argue that such regulations could hinder the flexibility and efficiency of cooperative housing operations.