Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 27, 2020 |
advanced to third reading cal.453 |
Feb 25, 2020 |
reported |
Feb 11, 2020 |
referred to judiciary |
Assembly Bill A9788
2019-2020 Legislative Session
Sponsored By
WEINSTEIN
Archive: Last Bill Status - On Floor Calendar
- 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
2019-A9788 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7184
- Law Section:
- Real Property Law
- Laws Affected:
- Amd §280-b, RP L (as proposed in S.4407 & A.5626)
2019-A9788 (ACTIVE) - Summary
Prohibits the use of the words "government insured" or other similar language in a manner that falsely represents that reverse mortgage loans are insured, supported and sponsored by any governmental entity in any commercial, mailing, advertisement or writing relating thereto.
2019-A9788 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9788 I N A S S E M B L Y February 11, 2020 ___________ Introduced by M. of A. WEINSTEIN -- read once and referred to the Committee on Judiciary AN ACT to amend the real property law, in relation to regulation of reverse mortgage loans issued under the federal home equity conversion mortgage for seniors program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 2 of section 280-b of the real property law, as added by a chapter of the laws of 2019, amending the real property law relating to regulation of reverse mortgages issued under the federal home equity conversion mortgage for seniors program, as proposed in legislative bills numbers S. 4407 and A. 5626, is amended to read as follows: (b) use the words "government insured" or other similar language [representing] IN A MANNER THAT FALSELY REPRESENTS that reverse mortgage loans are insured, supported and sponsored by any governmental entity in any commercial, mailing, advertisement or writing relating thereto; or § 2. This act shall take effect on the same date and in the same manner as a chapter of the laws of 2019, amending the real property law relating to regulation of reverse mortgages issued under the federal home equity conversion mortgage for seniors program, as proposed in legislative bills numbers S. 4407 and A. 5626, takes effect. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00905-02-0
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.