Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to housing, construction and community development |
Jan 12, 2015 |
referred to housing, construction and community development |
Senate Bill S1425
2015-2016 Legislative Session
Sponsored By
(D, WF) 33rd Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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
Actions
co-Sponsors
(D, WF) Senate District
2015-S1425 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7340
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Real Property Actions and Proceedings Law
- Laws Affected:
- Amd ยง1325, RPAP L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
S5562
2017-2018: S1072, A5953
2019-2020: S481, A2178
2021-2022: S2536, A5980
2023-2024: S2954
2015-S1425 (ACTIVE) - Sponsor Memo
BILL NUMBER:S1425 TITLE OF BILL: An act to amend the real property actions and proceedings law, in relation to the appointment of receivers in actions to foreclose a mortgage PURPOSE: Enables agencies with the jurisdictional power to administer and enforce the statutes, laws, rules and regulations, relating to the operation, repair and maintenance of residential real property to appoint a list of qualified potential receivers or managing agents. SUMMARY OF PROVISIONS: Subdivision one of section 1325 of the real property actions and proceedings law is amended by the addition of section (b). The new sections requires that cities with a population of one million or more persons give authority to appropriate agency to create a list of potential receivers or managing agents. JUSTIFICATION: At the height of the housing boom, speculators purchased multi-family housing at inflated prices using unrealistic expectations of future revenue. This has led to situations where owners cannot afford to pay
2015-S1425 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1425 2015-2016 Regular Sessions I N S E N A T E January 12, 2015 ___________ Introduced by Sens. RIVERA, ESPAILLAT -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property actions and proceedings law, in relation to the appointment of receivers in actions to foreclose a mortgage THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1325 of the real property actions and proceedings law, as added by chapter 312 of the laws of 1962, is amended to read as follows: 1. (A) Where the action is for the foreclosure of a mortgage providing that a receiver may be appointed without notice, notice of a motion for such appointment shall not be required. (B) IN A CITY WITH A POPULATION OF ONE MILLION OR MORE, THE AGENCY HAVING JURISDICTION FOR ADMINISTERING AND ENFORCING THE LAWS, RULES AND REGULATIONS RELATING TO THE OPERATION, REPAIR OR MAINTENANCE OF RESIDEN- TIAL REAL PROPERTY MAY SUBMIT TO THE CHIEF ADMINISTRATIVE JUDGE OF THE SUPREME COURT A LIST OF PERSONS SUCH AGENCY HAS DETERMINED TO BE QUALI- FIED TO BE APPOINTED AS A RECEIVER OR AS A MANAGING AGENT. WHERE SUCH AGENCY SUBMITS SUCH LIST TO THE CHIEF ADMINISTRATIVE JUDGE, THE COURT MAY ONLY APPOINT A RECEIVER WHOSE NAME APPEARS ON SUCH LIST, AND SUCH RECEIVER MAY ONLY APPOINT A MANAGING AGENT WHOSE NAME APPEARS ON SUCH LIST. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05845-01-5
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