A tenant may elect not to purchase as an eligible senior citizen or eligible disabled person as defined in G.B.L., section 352-e(2-a) or 352-eeee, or as an eligible disabled person as defined in G.B.L., section 352-eee, within 60 days from the presentation date by completing the applicable form, SH-1 or SH-2, prescribed by the Department of Law and included in the offering plan immediately preceding the introduction page, signing the election form and having the signature notarized, and personally delivering it to the named sponsor or selling agent at a location specified by the sponsor in the plan or by mailing it by certified or registered mail, return receipt requested, to the named sponsor or selling agent at an address specified by the sponsor in the plan. G.B.L., section 352-eee does not require that a tenant file an election form in order to qualify as an eligible senior citizen. However, it is advised and requested that a tenant, who believes he or she is or will become an eligible senior citizen within 12 months from the date the plan is filed, complete the election form SH-5 promulgated by the Department of Law and included in the plan. This senior citizen election form should be completed, signed, notarized and returned to the sponsor within 60 days of presentation of the offering plan. In the event that the plan becomes subject to G.B.L., section 352-e(2-a) after the plan was accepted for filing, the plan must be amended immediately after the statute becomes applicable to such offering, and such election may be made within 60 days of presentation of such amendment.
A sponsor who disputes the election by a non-purchasing tenant to be an eligible senior citizen or an eligible disabled person must apply to the Department of Law for a determination of the person's eligibility within 30 days following receipt of the election form.
The Department of Law need not consider any additional or supplemental information subsequently submitted by sponsor.
N.Y. Comp. Codes R. & Regs. Tit. 13 § 18.8