Assembly Bill A4216

2013-2014 Legislative Session

Requires certain signatures on real estate documents

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A4216 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd ยง442-k, RP L
Versions Introduced in Other Legislative Sessions:
2011-2012: A9349
2015-2016: A4126
2017-2018: A2715
2019-2020: A4192

2013-A4216 (ACTIVE) - Summary

Requires 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.

2013-A4216 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4216

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 1, 2013
                               ___________

Introduced  by M. of A. DenDEKKER, COOK, MONTESANO, AUBRY -- Multi-Spon-
  sored by -- M. of A.  BROOK-KRASNY, TITONE -- read once  and  referred
  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.

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