Assembly Bill A6143

2021-2022 Legislative Session

Requires a mandatory settlement conference in cooperative apartment unit foreclosure actions

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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2021-A6143 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Civil Practice Law and Rules
Laws Affected:
Add R3410, CPLR
Versions Introduced in 2023-2024 Legislative Session:
A3453

2021-A6143 (ACTIVE) - Summary

Requires a mandatory settlement conference in cooperative apartment unit foreclosure actions; makes related provisions.

2021-A6143 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6143
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2021
                                ___________
 
 Introduced by M. of A. DINOWITZ -- read once and referred to the Commit-
   tee on Judiciary
 
 AN  ACT to amend the civil practice law and rules, in relation to manda-
   tory settlement conference in cooperative apartment  unit  foreclosure
   actions
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  The civil practice law and rules is amended  by  adding  a
 new rule 3410 to read as follows:
   RULE  3410.  MANDATORY  SETTLEMENT CONFERENCE IN COOPERATIVE APARTMENT
 UNIT FORECLOSURE ACTIONS. (A) FOR PURPOSES OF THIS  SECTION  "A  COOPER-
 ATIVE  APARTMENT  UNIT LOAN" MEANS A LOAN SECURED BY RIGHTS TO A COOPER-
 ATIVE APARTMENT REQUIRED TO RECEIVE AN ADDITIONAL PRE-DISPOSITION NOTICE
 PURSUANT TO SUBSECTION (F) OF SECTION 9--611 OF THE  UNIFORM  COMMERCIAL
 CODE.
   IN ADDITION TO SUCH OTHER NOTIFICATIONS AS MAY BE REQUIRED PURSUANT TO
 THE UNIFORM COMMERCIAL CODE, IN ANY FORECLOSURE ACTION INVOLVING A COOP-
 ERATIVE  APARTMENT UNIT LOAN, IN WHICH THE BORROWER IS A RESIDENT OF THE
 PROPERTY SUBJECT TO FORECLOSURE, THE LENDER SHALL FILE A  PETITION  WITH
 THE  SUPREME  COURT  OF THE COUNTY IN WHICH THE COOPERATIVE APARTMENT IS
 LOCATED STATING THE LOAN IS IN DEFAULT AND THE REASON FOR THE DEFAULT.
   THE PETITION MUST BE SERVED ON THE BORROWER PURSUANT TO SECTION  THREE
 HUNDRED  EIGHT  OF  THIS CHAPTER. THE LENDER SHALL FILE PROOF OF SERVICE
 WITHIN TWENTY DAYS OF SUCH SERVICE AND THE COURT SHALL HOLD A  MANDATORY
 CONFERENCE  WITHIN  SIXTY DAYS AFTER THE DATE WHEN PROOF OF SERVICE UPON
 THE BORROWER IS FILED WITH THE COUNTY CLERK OR ON SUCH ADJOURNED DATE AS
 HAS BEEN AGREED TO BY THE PARTIES, FOR THE PURPOSE OF HOLDING SETTLEMENT
 DISCUSSIONS PERTAINING TO THE RELATIVE RIGHTS  AND  OBLIGATIONS  OF  THE
 PARTIES UNDER THE LOAN DOCUMENTS, INCLUDING, BUT NOT LIMITED TO:
   1.  DETERMINING  WHETHER  THE  PARTIES  CAN REACH A MUTUALLY AGREEABLE
 RESOLUTION TO HELP THE BORROWER AVOID LOSING THEIR HOME, AND  EVALUATING
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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