Insurance
- Statute:
- New York §339-m · Law RPP (Real Property Law)
- Topic:
- Governance & Powers · Insurance
- Applies to:
- Condo associations
Requires the board of managers to maintain insurance on the building and common elements for the benefit of all unit owners.
📄 Read the official text at nysenate.gov →
How SoShiny helps with Insurance
SoShiny stores your bylaws and governing documents in a searchable library with role-based access, so the board sees one thing and members see another. Every edit is timestamped in the audit log — the documentation Florida regulators and a court expect when a board action is later questioned.
See the feature → Start freeFrequently asked
- What does New York §339-m require?
- Requires the board of managers to maintain insurance on the building and common elements for the benefit of all unit owners.
- Who does New York §339-m apply to?
- New York §339-m applies to Condo associations in New York.
- What happens if our condo or HOA doesn't comply with §339-m?
- Non-compliance with this New York statute can expose the association and its officers to private civil suit, and (for offering-plan / sponsor matters under GBS) to enforcement action by the New York Attorney General's Real Estate Finance Bureau. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of New York §339-m?
- The official text is published by the New York State Legislature at nysenate.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Insurance?
- SoShiny stores your bylaws and governing documents in a searchable library with role-based access, so the board sees one thing and members see another. Every edit is timestamped in the audit log — the documentation Florida regulators and a court expect when a board action is later questioned. Learn more →
Not legal advice. This page is a plain-English summary of New York §339-m prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a New York-licensed attorney. For the official statutory text, see the link above.
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