Assembly Bill A6355

Signed By Governor
2021-2022 Legislative Session

Relates to associate real estate brokers serving as real estate office managers

download bill text pdf

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Archive: Last Bill Status Via S2157 - Signed by Governor

  • 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-A6355 (ACTIVE) - Details

See Senate Version of this Bill:
S2157
Law Section:
Real Property Law
Laws Affected:
Amd §440, RP L

2021-A6355 (ACTIVE) - Summary

Requires associate real estate brokers serving as real estate office managers to exercise supervision over other associate brokers and real estate salesmen.

2021-A6355 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6355
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 16, 2021
                                ___________
 
 Introduced  by M. of A. SOLAGES -- read once and referred to the Commit-
   tee on Judiciary
 
 AN ACT to amend the real property law, in  relation  to  associate  real
   estate brokers acting as office managers
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subdivision 6 of section 440 of the real property  law,  as
 added by chapter 183 of the laws of 2006, is amended to read as follows:
   6.  "Office manager" means a licensed associate real estate broker who
 shall by choice elect to work as an office manager under  the  name  and
 supervision  of  another  individual  broker  or  another  broker who is
 licensed under a partnership, trade name, limited liability  company  or
 corporation.  AN  ASSOCIATE REAL ESTATE BROKER SHALL BE REQUIRED TO HAVE
 BEEN ACTIVE AS A LICENSED ASSOCIATE BROKER FOR AT LEAST TWO OF THE  FOUR
 YEARS  PRECEDING APPOINTMENT AS AN OFFICE MANAGER. Such individual shall
 retain his or her license as a real estate broker  as  provided  for  in
 this  article  AND SHALL BE REQUIRED TO EXERCISE THE SAME DUTY OF SUPER-
 VISION OVER SALESMEN AND ASSOCIATE BROKERS AS  A  LICENSED  REAL  ESTATE
 BROKER;  provided,  however,  that the practice of real estate sales and
 brokerage by such individual as an associate broker  shall  be  governed
 exclusively  by  the  provisions of this article as they pertain to real
 estate salesmen. Nothing contained in this subdivision shall preclude an
 individual who is licensed as an associate broker who elects to work  as
 an  office  manager  from also retaining a separate real estate broker's
 license under an individual, partnership, trade name, limited  liability
 company or corporation.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08443-03-1

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