Assembly Bill A2895

2015-2016 Legislative Session

Creates the New York title guaranty authority

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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

multi-Sponsors

2015-A2895 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add Art 10-D Title 4 ยงยง3974 - 3980, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9445
2011-2012: A2015
2013-2014: A750
2017-2018: A5053
2019-2020: A4045
2023-2024: A6364

2015-A2895 (ACTIVE) - Summary

Creates the New York title guaranty authority to initiate and operate a program which shall offer guaranties of real property titles in this state.

2015-A2895 (ACTIVE) - Bill Text download pdf

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

                                  2895

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 20, 2015
                               ___________

Introduced by M. of A. WEPRIN -- Multi-Sponsored by -- M. of A. BRENNAN,
  GOTTFRIED,  MAGEE,  PEOPLES-STOKES,  PERRY,  ROBERTS  -- read once and
  referred to the Committee on Corporations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to creating  the
  New York title guaranty authority

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Article 10-D of the public authorities law  is  amended  by
adding a new title 4 to read as follows:
                                 TITLE 4
                    NEW YORK TITLE GUARANTY AUTHORITY
SECTION 3974. SHORT TITLE.
        3975. NEW YORK TITLE GUARANTY AUTHORITY.
        3976. ADMINISTRATION OF THE AUTHORITY.
        3977. GENERAL POWERS OF THE AUTHORITY.
        3978. SPECIAL POWERS OF THE AUTHORITY.
        3979. NEW YORK TITLE GUARANTY FUND.
        3980. PARTICIPATING ATTORNEYS.
  S  3974.  SHORT TITLE. THIS ACT SHALL BE KNOWN AND MAY BE CITED AS THE
"NEW YORK TITLE GUARANTY AUTHORITY ACT".
  S 3975. NEW YORK TITLE GUARANTY AUTHORITY. 1. THERE IS HEREBY  CREATED
THE NEW YORK TITLE GUARANTY AUTHORITY, TO INITIATE AND OPERATE A PROGRAM
WHICH  SHALL OFFER GUARANTIES OF REAL PROPERTY TITLES IN THIS STATE. THE
AUTHORITY SHALL BE A CORPORATE GOVERNMENTAL AGENCY  AND  INSTRUMENTALITY
OF THE STATE CONSTITUTING A PUBLIC BENEFIT CORPORATION.
  2.  IN ACCORDANCE WITH THE PROVISIONS OF THIS TITLE, THE AUTHORITY MAY
ISSUE BONDS ONLY TO FINANCE COSTS, INCLUDING THE FUNDING OF BONDS ISSUED
BY THE AUTHORITY TO FINANCE COSTS, AND  FUND  RESERVES  TO  SECURE  SUCH
BONDS.
  3.  THE  AUTHORITY  AND  ITS  CORPORATE EXISTENCE SHALL CONTINUE UNTIL
TERMINATED BY LAW, PROVIDED, HOWEVER, THAT  NO  SUCH  TERMINATION  SHALL

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07326-01-5
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.