U.S. Code » Title 15 » Chapter CHAPTER 62— CONDOMINIUM AND COOPERATIVE CONVERSION PROTECTION AND ABUSE RELIEF

15 U.S.C. § 3607

Termination of self-dealing contracts

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(a) Operation, maintenance, and management contracts; penaltyAny contract or portion thereof which is entered into after October 8, 1980, and which—(1) provides for operation, maintenance, or management of a condominium or cooperative association in a conversion project, or of property serving the condominium or cooperative unit owners in such project;(2) is between such unit owners or such association and the developer or an affiliate of the developer;(3) was entered into while such association was controlled by the developer through special developer control or because the developer held a majority of the votes in such association; and(4) is for a period of more than three years, including any automatic renewal provisions which are exercisable at the sole option of the developer or an affiliate of the developer,may be terminated without penalty by such unit owners or such association.(b) Time of terminationAny termination under this section may occur only during the two-year period beginning on the date on which—(1) special developer control over the association is terminated; or(2) the developer owns 25 per centum or less of the units in the conversion project,whichever occurs first.(c) Vote of owners of units

A termination under this section shall be by a vote of owners of not less than two-thirds of the units other than the units owned by the developer or an affiliate of the developer.

(d) Effective date of termination

Following the unit owners’ vote, the termination shall be effective ninety days after hand delivering notice or mailing notice by prepaid United States mail to the parties to the contract.

(Pub. L. 96–399, title VI, § 608, Oct. 8, 1980, 94 Stat. 1676.)Editorial NotesCodification

In subsec. (a), “October 8, 1980” was substituted for “the effective date of this title”. See Effective Date note set out under section 3601 of this title.

Notes of Decisions
Cited in 28 cases, 1986–2012 · leading case: Park South Tenants Corp. v. 200 Cent. Park South Assocs., L.P., Bernard Spitzer, Jack Lipman, & Melvin D. Lipman, 941 F.2d 112 (2d Cir. 1991).
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Park South Tenants Corp. v. 200 Cent. Park South Assocs., L.P., Bernard Spitzer, Jack Lipman, & Melvin D. Lipman, 941 F.2d 112 (2d Cir. 1991). · cites it 4× “See 15 U.S.C. § 3607 . The Sponsor did not contest the termination, but unilaterally reduced the amount of its yearly unapportioned lease payment to account for the loss of the use of the garage space.”
Park South Tenants Corp. v. 200 Cent. Park South Assocs., L.P., 748 F. Supp. 208 (S.D.N.Y. 1990). · cites it 7× “Plaintiff commenced this action simultaneously with the delivery of the notice of termination on December 12, 1989 and alleges that defendant Sponsor, along with defendant Directors, interfered with plaintiff’s rights under 15 U.S.C. § 3607 from the inception of the Lease.”
2 Tudor City Place Assocs. & 2 Tudor Garden Parking Corp. v. 2 Tudor City Tenants Corp., Kinney Sys., Inc., & Am. Sav. Bank, 924 F.2d 1247 (2d Cir. 1991). · cites it 3× “1 Tenants, a cooperative association, had nullified the lease pursuant to the Condominium and Cooperative Abuse Relief Act (Act), 15 U.S.C. § 3607 (1988). The purchasers of the apartments at 2 Tudor City Place believed that they had not been advised that the lease of the garage…”
Barnan Assocs. v. 196 Owner's Corp., 797 F. Supp. 302 (S.D.N.Y. 1992). · cites it 8× “Also on September 13, 1991, and pursuant to 15 U.S.C. § 3607 (d), a notice of termination of the Master Commercial Lease was mailed to plaintiff, with a copy to the Sponsor.”
Bleecker Charles Co. v. 350 Bleecker Street Apt. Corp., 181 F. Supp. 2d 257 (S.D.N.Y. 2001). · cites it 5× “” 15 U.S.C. § 3607 (b)(2). The plaintiff Sponsor brought this action for declaratory and injunctive relief, asking the Court to hold the Co-op’s attempted termination of the lease invalid because, among other reasons, the attempt to terminate the lease in 2000 came too late —…”
Coliseum Park Apts. Co. v. Coliseum Tenants Corp., 742 F. Supp. 128 (S.D.N.Y. 1990). · cites it 4× “15 U.S.C. § 3607 (a). Termination pursuant to § 3607(a) must occur within two years of the date on which “special developer control,” as defined in the statute, over the association ends, or the developer owns 25% or less of the units in the cooperative, whichever occurs first.”
305 East 40th Garage Corp. v. 305 East 40th Owners Corp., 833 F. Supp. 991 (S.D.N.Y. 1993). · cites it 4× “For the reasons stated below, 305 Garage’s motion for summary judgment is denied, and 305 Owners’ motion for partial summary judgment on the issues of timeliness of termination, constitutionality of 15 U.S.C. § 3607 , and estoppel is granted.”
Brabert Realty Co. v. 20125 Owners Corp., 703 F. Supp. 314 (S.D.N.Y. 1989). · cites it 3× “15 U.S.C. § 3607 (a), (b). This case raises two issues: whether the termination of the Lease occurred within the applicable statute of limitation, 15 U.”
Cromwell Assocs. v. Oliver Cromwell Owners, Inc., 705 F. Supp. 116 (S.D.N.Y. 1988). · cites it 4× “s between such unit owners or such association and the developer or an affiliate of the developer; (3) was entered into while such association was controlled by the developer through special developer control or because the developer held a majority of the votes in such…”
West 14th Street Com. Corp. v. 5 West 14th Owners Corp., 815 F.2d 188 (2d Cir. 1987). · cites it 2× “15 U.S.C. § 3607 (1982). 2 *197 All four of these statutory elements must exist for a contract to fall within reach of the Act.”
181 East 73rd Street Co. v. 181 East 73rd Tenants Corp., 954 F.2d 45 (2d Cir. 1992). · cites it 5× “Plaintiffs complaint arises under 15 U.S.C. §§ 3607 , 3611-3612 (1988); therefore, subject matter jurisdiction rests upon 28 U.”
Darnet Realty Assocs. LLC v. 136 East 56th Street Owners, Inc., 214 F.3d 79 (2d Cir. 2000). · cites it 5× “Under 15 U.S.C. § 3607 (b), unit owners have a two-year window in which to terminate a self-dealing lease.”
Show all 28 citing cases →
— 15 U.S.C. § 3607(b) — 1 case
Brabert Realty Co. v. 20125 Owners Corp., 703 F. Supp. 314 (S.D.N.Y. 1989). “15 U.S.C. § 3607 (a), (b). This case raises two issues: whether the termination of the Lease occurred within the applicable statute of limitation, 15 U.”
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