Assembly Bill A7340

2015-2016 Legislative Session

Provides for the appointment of foreclosure receivers and managing agents in N.Y. city

download bill text pdf

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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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2015-A7340 (ACTIVE) - Details

See Senate Version of this Bill:
S1425
Current Committee:
Assembly Judiciary
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: A5953, S1072
2019-2020: A2178, S481
2021-2022: A5980, S2536
2023-2024: S2954
2025-2026: S3823

2015-A7340 (ACTIVE) - Summary

Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more.

2015-A7340 (ACTIVE) - Bill Text download pdf 

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

                                  7340

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               May 6, 2015
                               ___________

Introduced by M. of A. PICHARDO -- read once and referred to the Commit-
  tee on Judiciary

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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