Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to corporations, authorities and commissions |
Dec 08, 2021 |
print number 2761a |
Dec 08, 2021 |
amend and recommit to corporations, authorities and commissions |
Jan 25, 2021 |
referred to corporations, authorities and commissions |
Senate Bill S2761A
2021-2022 Legislative Session
Sponsored By
(D, WF) 13th Senate District
Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions 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
Bill Amendments
2021-S2761 - Details
- See Assembly Version of this Bill:
- A8574
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add Art 10-D Title 4 §§3974 & 3975, Pub Auth L; add §92-j, St Fin L; rpld Art 64, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2019-2020:
S7744
2023-2024: S4539, A4500
2021-S2761 - Sponsor Memo
BILL NUMBER: S2761 SPONSOR: RAMOS TITLE OF BILL: An act to amend the public authorities law and the state finance law, in relation to establishing the New York title guaranty program; to estab- lish the New York title guaranty commission; and to repeal certain provisions of the insurance law relating thereto PURPOSE OR GENERAL IDEA OF BILL: Establishes the New York title guaranty program and the New York title guaranty corporation; repealer. SUMMARY OF PROVISIONS: Section 1: The legislature finds and declares that a state title guaran- ty program promotes land title stability and a low-cost mechanism to provide for guarantees of real property titles in New York State § 2. Amends Article 10-D of the public authorities law by adding a new
2021-S2761 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2761 2021-2022 Regular Sessions I N S E N A T E January 25, 2021 ___________ Introduced by Sen. RAMOS -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law and the state finance law, in relation to establishing the New York title guaranty program; to establish the New York title guaranty commission; and to repeal certain provisions of the insurance law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The legislature finds and declares that a state title guaranty program promotes land title stability and a low-cost mechanism to provide for guarantees of real property titles in New York state. The title guaranty corporation established by this act will facilitate developers', homebuyers', and mortgage lenders' partic- ipation and add to the integrity of the land-title transfer system in the state. § 2. Article 10-D of the public authorities law is amended by adding a new title 4 to read as follows: TITLE 4 NEW YORK TITLE GUARANTY PROGRAM SECTION 3974. NEW YORK TITLE GUARANTY PROGRAM. 3975. NEW YORK TITLE GUARANTY CORPORATION. § 3974. NEW YORK TITLE GUARANTY PROGRAM. (A) THERE IS HEREBY CREATED THE NEW YORK TITLE GUARANTY PROGRAM TO INITIATE AND OPERATE A PROGRAM WHICH SHALL OFFER GUARANTIES OF REAL PROPERTY TITLES IN THIS STATE. THE PROGRAM SHALL BE AUTHORIZED AND ADMINISTERED BY A NEW STATE CORPORATION ENTITLED THE NEW YORK TITLE GUARANTY CORPORATION. THE CORPORATION SHALL DETERMINE THE TERMS, CONDITIONS, AND FORM OF THE GUARANTY CONTRACT. THE CORPORATION SHALL FIX A CHARGE FOR THE GUARANTY IN AN AMOUNT SUFFICIENT TO PERMIT THE PROGRAM TO OPERATE ON A SELF-SUSTAINING BASIS, INCLUDING EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06593-01-1
2021-S2761A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8574
- Current Committee:
- Senate Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add Art 10-D Title 4 §§3974 & 3975, Pub Auth L; add §92-j, St Fin L; rpld Art 64, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2019-2020:
S7744
2023-2024: S4539, A4500
2021-S2761A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2761A SPONSOR: RAMOS TITLE OF BILL: An act to amend the public authorities law and the state finance law, in relation to establishing the New York title guaranty program; to estab- lish the New York title guaranty commission; and to repeal certain provisions of the insurance law relating thereto PURPOSE OR GENERAL IDEA OF BILL: Establishes the New York title guaranty program and the New York title guaranty corporation; repealer. SUMMARY OF PROVISIONS: Section 1: The legislature finds and declares that a state title guaran- ty program promotes land title stability and a low-cost mechanism to provide for guarantees of real property titles in New York State § 2. Amends Article 10-D of the public authorities law by adding a new
2021-S2761A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2761--A 2021-2022 Regular Sessions I N S E N A T E January 25, 2021 ___________ Introduced by Sen. RAMOS -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public authorities law and the state finance law, in relation to establishing the New York title guaranty program; to establish the New York title guaranty commission; and to repeal certain provisions of the insurance law relating thereto THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The legislature finds and declares that a state title guaranty program promotes land title stability and a low-cost mechanism to provide for guaranties of real property titles in New York state. The title guaranty corporation established by this act will facilitate developers', homebuyers', and mortgage lenders' partic- ipation and add to the integrity of the land-title transfer system in the state. § 2. Article 10-D of the public authorities law is amended by adding a new title 4 to read as follows: TITLE 4 NEW YORK TITLE GUARANTY PROGRAM SECTION 3974. NEW YORK TITLE GUARANTY PROGRAM. 3975. NEW YORK TITLE GUARANTY CORPORATION. § 3974. NEW YORK TITLE GUARANTY PROGRAM. (A) THERE IS HEREBY CREATED THE NEW YORK TITLE GUARANTY PROGRAM TO INITIATE AND OPERATE A PROGRAM WHICH SHALL OFFER GUARANTIES OF REAL PROPERTY TITLES IN THIS STATE. THE PROGRAM SHALL BE AUTHORIZED AND ADMINISTERED BY A NEW STATE CORPORATION ENTITLED THE NEW YORK TITLE GUARANTY CORPORATION. THE CORPORATION SHALL DETERMINE THE TERMS, CONDITIONS, AND FORM OF THE GUARANTY CONTRACT. THE CORPORATION SHALL FIX A CHARGE FOR THE GUARANTY IN AN AMOUNT SUFFICIENT TO PERMIT THE PROGRAM TO OPERATE ON A SELF-SUSTAINING BASIS, INCLUDING EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06593-02-1
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