Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to judiciary |
Feb 20, 2015 |
referred to judiciary |
Assembly Bill A5390
2015-2016 Legislative Session
Sponsored By
LIFTON
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
Actions
co-Sponsors
Ellen C. Jaffee
Linda Rosenthal
Steven Englebright
Thomas Abinanti
multi-Sponsors
Jeffrey Dinowitz
Deborah Glick
Richard Gottfried
2015-A5390 (ACTIVE) - Details
2015-A5390 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5390 2015-2016 Regular Sessions I N A S S E M B L Y February 20, 2015 ___________ Introduced by M. of A. LIFTON, JAFFEE, ROSENTHAL, ENGLEBRIGHT, ABINANTI, TITONE -- Multi-Sponsored by -- M. of A. DINOWITZ, GLICK, GOTTFRIED -- read once and referred to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to requiring a certain statement to be included in all oil, gas or mineral leases THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5-333 of the general obligations law is amended by adding a new subdivision 5-a to read as follows: 5-A. ON OR AFTER JANUARY FIRST, TWO THOUSAND SIXTEEN, ANY OIL, GAS OR MINERAL LEASE SHALL CONTAIN THE FOLLOWING STATEMENT PRINTED IN AT LEAST TEN POINT BOLD TYPE: EXECUTION OF A VALID OIL, GAS OR MINERAL LEASE MAY IN SOME SITUATIONS, PREVENT YOUR PROPERTY FROM BEING ELIGIBLE FOR TITLE INSURANCE, OR PREVENT LENDING INSTITUTIONS FROM BEING ABLE TO ISSUE A MORTGAGE ON LEASED PROPERTY, OR NEIGHBORING PROPERTY, THEREBY, IN ALL LIKELIHOOD, LOWERING THE OVERALL VALUE OF YOUR HOME AND LAND. S 2. This act shall take effect immediately, and shall apply to all agreements, leases and contracts entered into, issued, renewed, extended, altered or modified on or after such effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03963-01-5
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