domecile

local law 58
SHIELD act
tenant law

A Local Law to amend the Administrative Code of the City of New York, establishing timelines for co-op board review of sale applications.

§ 26-3702 Requirements for determination

Cooperative corporations must maintain a standardized application and full transfer requirements for sales. These must be provided promptly to purchasers or their agents upon request.

§ 26-3703 Acknowledgment of receipt

Within 15 days of receiving an application, the cooperative corporation must acknowledge receipt in writing (via email and registered mail). The acknowledgment must specify whether the application is complete and, if not, identify each missing item (with reference to the applicable requirement) and any additional materials requested for clarification. If no acknowledgment is sent, the application is deemed complete as of the due date. Timelines may be tolled during formally designated summer recess periods.

§ 26-3704 Time for determination

Within 45 days after acknowledging a complete application, or when an application is deemed complete, the cooperative corporation must notify the purchaser whether consent is:

(i) granted unconditionally;

(ii) granted subject to conditions; or

(iii) denied.

The co-op may request additional materials during the review period. It may extend the decision once by up to 14 days without purchaser consent (with advance notice), or longer with purchaser consent. Timeframes may be tolled during summer recess periods.

§ 26-3705 Enforcement

The Department of Housing Preservation and Development (HPD) enforces this chapter. Civil penalties apply: $1,000 (first violation), $1,500 (second), and $2,000 (third and subsequent violations). HPD may initiate proceedings through the Office of Administrative Trials and Hearings.

For full text of Local Law 58 of 2026, see the New York City Council website.

stay compliant! contact sales@domecile.com

Automated timers triggered upon application receipt

Automated acknowledgments sent

Time-stamped records of all messages

Decision windows + extensions tracked digitally

Audit trail

Stop Hacks and Improve Electronic Data Security Act [SHIELD Act]

https://legislation.nysenate.gov/pdf/bills/2019/S5575B

NY State Senate Bill S5575B
Signed into law: July 25, 2019

purpose

New York's data breach notification law needs to be updated to keep pace with current technology. This bill broadens the scope of information covered under the notification law and updates the notification requirements when there has been a breach of data. It also broadens the definition of a data breach to include an unauthorized person gaining access to information. It also requires reasonable data security, provides standards tailored to the size of a business, and provides protections from liability for certain entities.

what

The SHIELD Act requires businesses in possession of New York residents’ private information to “develop, implement, and maintain reasonable safeguards to protect the security, confidentiality and integrity of the private information, including but not limited to disposal of data.

The bill imposes stronger obligations on businesses handling private data of customers, regarding security and proper notification of breaches.

who

Businesses with access to personal and private information of New York residents.
Including but not limited to:

Name and other identifiers
Social security, driver license or other officially issued government card numbers
Financial account, credit or debit numbers
User identification and passwords for access to sensitive information
Anything not publicly available

when

Law takes effect in two phases:

Official law takes effect on October 22, 2019
[90 days from July 25, 2019]
Section 4 : Notification remedies takes effect on March 20, 2020
[240 days from July 25, 2019 ]

compliance

The SHIELD Act provides that a business will “be deemed to be in compliance with” this standard if it implements a “data security program” that includes all of the elements enumerated in the Act.

Domecile ensures our clients stay in compliance.

reasonable administrative safeguards
such as the following, in which the person or business:

Designates one or more employees to coordinate the security program

Domecile point person working with your IT department

Identifies reasonably foreseeable internal and external risks

Domecile regularly conducts these checks, includes client feedback

Assesses the sufficiency of safeguards in place to control the identified risks

Domecile assesses safeguards aided by third-party security audit

Trains and manages employees in the security program practices and procedures

Provided by Domecile

Selects service providers capable of maintaining appropriate safeguards, and requires those safeguards by contract

Domecile Standard

Adjusts the security program in light of business changes or new circumstances

Consistent system updates and new features by Domecile

reasonable technical safeguards
such as the following, in which the person or business:

Assesses risks in network and software design

Conducted by Domecile regularly, includes client feedback

Assesses risks in information processing, transmission and storage

Conducted by Domecile regularly, includes client feedback

Detects, prevents and responds to attacks or system failures