2018 New York Laws
NPC - Not-For-Profit Corporation
Article 5 - Corporate Finance
519-A - Annual Reports for Certain Transactions Required.

§ 519-a. Annual reports for certain transactions required.
(a)  A  condominium  created  pursuant  to  the real property law or a
  cooperative  housing  corporation  created  pursuant  to  the   business
  corporation law, shall, at least once each year:
(1)  require  that  each  director,  as  defined  in  paragraph six of
  subdivision (a) of section one hundred two of this  chapter,  receive  a
  copy of section seven hundred fifteen of this chapter; and
(2) provide an annual report to the members or to the governing board,
  if  there  are  no members, which shall be signed by each such director,
  containing information on any contracts made, entered into, or otherwise
  voted on by the board of directors that were considered a related  party
  transaction pursuant to section seven hundred fifteen of this chapter.
(b)  The  annual  report  required  by subdivision (a) of this section
  shall include, but not be limited to, the following:
(1) a list of all contracts  voted  on  by  the  board  of  directors,
  including  information  on  the contract recipient, contract amount, and
  the purpose of entering into the contract;
(2) the record of each meeting including director  attendance,  voting
  records  for  contracts,  and how each director voted on such contracts;
  and
(3) the date of each vote on each contract, and the date the  contract
  would be and remain valid.
(c)  If the annual report required by paragraph two of subdivision (a)
  of this section would, notwithstanding the requirements of this section,
  contain no information because of the absence of any  actions  taken  by
  the  board  that  would  otherwise  qualify for inclusion in such annual
  report, then the board shall instead submit to the  members  or  to  the
  governing  board,  if  there  are no members, a document, signed by each
  director, indicating: "No actions taken by the board were subject to the
  annual report required pursuant to section 519-a of  the  Not-for-Profit
  Corporation Law".