Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Apr 11, 2012 |
referred to judiciary |
Senate Bill S6911
2011-2012 Legislative Session
Sponsored By
(D, IP) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- Introduced
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- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2011-S6911 (ACTIVE) - Details
2011-S6911 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6911 TITLE OF BILL: An act to amend the real property law, in relation to requiring the secretary of state to promulgate rules requiring every real estate salesperson and real estate broker involved in or present during a real estate transaction to include his or her license number and signature on every document requiring a signature PURPOSE OR GENERAL IDEA OF BILL: The purpose of the bill is to require real estate salespersons, agents or brokers to include their license number in order to clearly identify who they are. SUMMARY OF SPECIFIC PROVISIONS: Amends section subdivision 1 of section 442-k or the real property law, to include that real estate salespersons/brokers must include their license number along with their signature on every document they are required to sign as their duty as a real estate salesperson. JUSTIFICATION: A signature is required in order to facilitate a written agreement or contract, however at times a person's signature can be illegible. Therefore as a form of positive identification of the licensed real estate salesperson and broker, their license number should be included in the document as well as their signature. In the real estate business,
2011-S6911 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6911 I N S E N A T E April 11, 2012 ___________ Introduced by Sen. SAVINO -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to requiring the secretary of state to promulgate rules requiring every real estate salesperson and real estate broker involved in or present during a real estate transaction to include his or her license number and signature on every document requiring a signature THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 442-k of the real property law, as added by chapter 248 of the laws of 1995, is amended to read as follows: 1. (A) The state real estate board shall have the power to promulgate rules or regulations affecting brokers and sales persons in order to administer and effectuate the purposes of this article, except that matters pertaining to commingling money of a principal, rendering accounts for a client, managing property for a client, broker's purchase of property listed with him or her, inducing breach of contract of sale or lease, and records of transactions to be maintained are reserved for the exclusive regulatory authority of the secretary of state. (B) The secretary of state, and not the state real estate board shall promulgate rules and regulations to administer or implement the provisions of sections four hundred forty-one and four hundred forty- two-h of this article. [In addition, the] (C) THE secretary of state shall have exclusive regulatory authority to promulgate rules regarding the duties and responsibilities of real estate brokers and salespersons with regard to the handling of clients' funds. (D) THE SECRETARY OF STATE SHALL PROMULGATE RULES OR REGULATIONS REQUIRING EVERY REAL ESTATE SALESPERSON AND/OR REAL ESTATE BROKER INVOLVED IN OR PRESENT DURING A REAL ESTATE TRANSACTION TO EACH LEGIBLY SIGN AND INCLUDE HIS OR HER LICENSE NUMBER ON EVERY DOCUMENT REQUIRING A SIGNATURE OF SUCH SALESPERSON OR BROKER IN SUCH TRANSACTION. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14672-03-2
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