Current through Register Vol. 46, No. 39, September 25, 2024
(a)
Election.
Subject to the other provisions of this section, a person
may seek exemption as an eligible senior citizen or an eligible handicapped
person as defined in General Business Law, section 352-e ee or 352-eeee by
completing the relevant form SH-1, SH-2 or SH-3 promulgated by the Department
of Law and included in the offering plan, and returning the form to the sponsor
or his designated agent within 60 days of the date the Department of Law files
the plan. The form must be served on the sponsor or his designated agent by
personal service or certified or registered mail, return receipt requested. The
sponsor or agent shall acknowledge receipt of the form and return an
acknowledged copy to the person making the election.
(b)
Determination of disputed
elections.
(1) A sponsor who disputes
the election by a person seeking exemption as an eligible senior citizen or
eligible handicapped person must apply to the Department of Law within 30 days
of the receipt of the election form for a determination by the Department of
Law of such person's eligibility.
(2) The application shall be in the form of
an affidavit sworn to by a person having knowledge of the facts and shall set
forth the following:
(i) a statement that the
application is made within 30 days of receipt of the election form;
(ii) the specific grounds for challenging the
exemption;
(iii) the basis for the
affiant's belief that the person making the election is not an eligible senior
citizen or eligible handicapped person; and
(iv) all supporting information and
documentation in the possession of the affiant bearing on the above.
(3) If the sponsor does not file a
timely application, the Department of Law shall determine that the person
making the election is an eligible senior citizen or eligible handicapped
person.
(4) Upon receipt of an
application and supporting documentation timely filed, the Department of Law
shall inform the person making the election that an application disputing his
or her eligibility has been received and shall request the person to submit an
answer to the application on forms prescribed by the Department of Law
supported by all relevant documentation in his or her possession within seven
business days. Failure to answer the application shall not preclude the
Department of Law from determining the eligibility of such person. The
Department of Law may, in its discretion, request the appearance of any witness
for the purpose of obtaining oral testimony on the issue or issues presented in
the dispute. Such person shall be notified that he or she may be represented by
counsel.
(5) On the basis of the
information contained in the election form, the sponsor's application, the
answer, if any, and oral testimony, if any, the Department of Law shall issue
its determination of eligibility.
(c)
Applicability.
This section shall be applicable to all offering plans
accepted by the Department of Law for filing after the effective date, and to
all applications to the Department of Law for determinations pursuant to
General Business Law, section 352-e ee(4) or 352-eeee(4) not yet determined as
of the effective date.
