§ 352-eeee. Conversions to cooperative or condominium ownership in the\ncity of New York. 1. As used in this section, the following words and\nterms shall have the following meanings:\n (a) "Plan". Every offering statement or prospectus submitted to the\ndepartment of law pursuant to section three hundred fifty-two-e of this\narticle for the conversion of a building or group of buildings or\ndevelopment from residential rental status to cooperative or condominium\nownership or other form of cooperative interest in realty, other than an\noffering statement or prospectus for such conversion pursuant to section\nthree hundred fifty-two-eeeee of this article or article two, eight or\neleven of the private housing finance law.\n (b) "Non-eviction plan". A plan which may not be declared effective\nuntil written purchase agreements have been executed and delivered for\nat least fifty-one percent of all dwelling units in the building or\ngroup of buildings or development by bona fide tenants who were in\noccupancy on the date a letter was issued by the attorney general\naccepting the plan for filing; provided, however, that for a building\ncontaining five or fewer units, and where the sponsor of the offering\nplan offers the unit that they or their immediate family member has\noccupied for at least two years, the plan may not be effective until\nwritten purchase agreements have been executed and delivered for at\nleast fifteen percent of all dwelling units in the building subscribed\nfor by bona fide tenants in occupancy or bona fide purchasers who\nrepresent that they intend that they or one or more members of their\nimmediate family occupy the dwelling unit when it becomes vacant. The\npurchase agreement shall be executed and delivered pursuant to an\noffering made in good faith without fraud and discriminatory repurchase\nagreements or other discriminatory inducements.\n (c) "Eviction plan". A plan which, submitted prior to the effective\ndate of the chapter of the laws of two thousand nineteen that amended\nthis section, pursuant to the provisions of this section, can result in\nthe eviction of a non-purchasing tenant by reason of the tenant failing\nto purchase pursuant thereto, and which may not be declared effective\nuntil at least fifty-one percent of the bona fide tenants in occupancy\nof all dwelling units in the building or group of buildings or\ndevelopment on the date the offering statement or prospectus was\naccepted for filing by the attorney general (excluding, for the purposes\nof determining the number of bona fide tenants in occupancy on such\ndate, eligible senior citizens and eligible disabled persons) shall have\nexecuted and delivered written agreements to purchase under the plan\npursuant to an offering made in good faith without fraud and with no\ndiscriminatory repurchase agreements or other discriminatory\ninducements.\n (d) "Purchaser under the plan". A person who owns the shares allocated\nto a dwelling unit or who owns such dwelling unit itself.\n (e) "Non-purchasing tenant". A person who has not purchased under the\nplan and who is a tenant entitled to possession at the time the plan is\ndeclared effective or a person to whom a dwelling unit is rented\nsubsequent to the effective date. A person who sublets a dwelling unit\nfrom a purchaser under the plan shall not be deemed a non-purchasing\ntenant.\n (f) "Eligible senior citizens". Non-purchasing tenants who are\nsixty-two years of age or older on the date the plan is submitted to the\ndepartment of law or on the date the attorney general has accepted the\nplan for filing, and the spouses of any such tenants on such date, and\nwho have elected, within sixty days of the date the plan is submitted to\nthe department of law or on the date the attorney general has accepted\nthe plan for filing, on forms promulgated by the attorney general and\npresented to such tenants by the offeror, to become non-purchasing\ntenants under the provisions of this sect
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