Today, the New York Attorney General (the “NYAG”) issued a new alert that effective August 16, 2017, all acceptance letters for offering plans, amendments, cooperative policy statements, and no-action letters will be delivered to the attorney of record for sponsor in digital form. This recent policy shows that the NYAG is committed to moving in the digital direction.
As is clear from the announcement, the NYAG carefully planned ahead for this change by coordinating with agencies such as the New York City Department of Finance (“DOF”) that rely on NYAG letters for purposes of condo formation. To ensure that DOF will accept digital letters as a part of the condominium formation process, the NYAG letters will include scripted typeface signatures.
While the NYAG and various other city and state agencies move in the digital direction, there is always the occasional holdout. Therefore, the NYAG reserves discretion to issue paper acceptance letters upon request.
To facilitate the process, attorneys for sponsor must provide their email address along with their notice of appearance. The new Notice of Appearance form is available here.
Any questions on the new policy should be directed to the NYAG Director of Records Management Monique Harding at Monique.Harding@ag.ny.gov.