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N.Y.C. Admin. Code § 27-2114

Citation
N.Y.C. Admin. Code § 27-2114
Source
Official source

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f. No civil or criminal liability or penalty shall attach to any person by reason of such person's ownership or beneficial ownership of stock in a corporation owning a multiple dwelling declared to be a public nuisance pursuant to subdivision b of this section because of his or her failure to comply with any of the provisions of this code, whose interest in such corporation is less than twenty-five per cent of the issued and outstanding stock thereof, as owner or beneficial owner thereof, and who has sustained the burden of proving that he or she has not participated directly or indirectly in the management, operation or control of such multiple dwelling.

g. No civil or criminal liability or penalty shall attach to any person by reason of such person's ownership or beneficial ownership of stock in a corporation owning a multiple dwelling declared to be a public nuisance pursuant to subdivision b of this section because of his or her failure to comply with any of the provisions of this code unless and until such person has had a reasonable period of time to comply following his or her having become an owner as defined in this code.

h. No civil or criminal liability or penalty shall attach to any person who shall by operation of law become an owner of a multiple dwelling then or thereafter certified and declared a public nuisance to any extent pursuant to subdivision b of this section, or the holder or beneficial owner of stock in such owner, if a corporation, because of his or her failure to comply with any of the provisions of this code and of the multiple dwelling law for a period of six months after he or she acquired ownership of said multiple dwelling or the stock or beneficial interest in the stock of a corporation which is the owner.