What is New York Law GBS?

New York Law GBS — the General Business Law (Martin Act) — is the body of law that governs how every New York co-op or condo is structured, operated, and held accountable. It covers governance, voting, records, assessments, fining, and most of the day-to-day legal questions a board will face.

How many sections are in Law GBS?

Law GBS contains 4 sections in this reference. Each is summarized in plain English on its own page, with links to the official text at nysenate.gov.

Is the summary on this site legal advice?

No. These pages are plain-English summaries prepared by SoShiny for board members and managers. For binding legal advice or interpretation of how a section applies to your specific situation, consult a New York-licensed attorney.

How often does New York Law GBS change?

The New York State Legislature can amend any chapter in any session. We update these summaries when we re-import the official text — see the 'Last updated' date on each section page.

Does SoShiny enforce Law GBS for me?

No software 'enforces' a statute — but SoShiny is built around it. Voting, meeting minutes, records access, fining workflow, and audit trails are designed to meet this body of law's requirements out of the box, so the board can demonstrate good-faith compliance if challenged.

New York · Law GBS

General Business Law (Martin Act) — Plain-English Summary

Official title: General Business Law. Translated into plain English for board members and homeowners.

Fraud in the Sale of Securities, Commodities and Investments

§352

Investigation by attorney general

Authorizes the Attorney General to investigate fraudulent practices in the sale of securities, including offerings of HOA and condominium interests. Foundati…
§352-e

Real estate syndication offerings

Requires anyone making a public offering of securities consisting of participation interests in real estate (including cooperatives, condominiums, and 'inter…
§352-eee

Conversions to cooperative or condominium ownership of dwelling units in certain counties

Conversion plans for cooperatives and condominiums in Nassau, Westchester, Rockland, and similar counties. Sets tenant protections and required offering plan…
§352-eeee

Conversions to cooperative or condominium ownership in the city of New York

Conversion plans for cooperatives and condominiums in New York City. Non-eviction plans require 15 percent of tenants in occupancy to purchase. Eviction plan…

Frequently asked about Law GBS

What is New York Law GBS?: New York Law GBS — the General Business Law (Martin Act) — is the body of law that governs how every New York co-op or condo is structured, operated, and held accountable. It covers governance, voting, records, assessments, fining, and most of the day-to-day legal questions a board will face.
How many sections are in Law GBS?: Law GBS contains 4 sections in this reference. Each is summarized in plain English on its own page, with links to the official text at nysenate.gov.
Is the summary on this site legal advice?: No. These pages are plain-English summaries prepared by SoShiny for board members and managers. For binding legal advice or interpretation of how a section applies to your specific situation, consult a New York-licensed attorney.
How often does New York Law GBS change?: The New York State Legislature can amend any chapter in any session. We update these summaries when we re-import the official text — see the 'Last updated' date on each section page.
Does SoShiny enforce Law GBS for me?: No software 'enforces' a statute — but SoShiny is built around it. Voting, meeting minutes, records access, fining workflow, and audit trails are designed to meet this body of law's requirements out of the box, so the board can demonstrate good-faith compliance if challenged.

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