Assembly Bill A8119

2023-2024 Legislative Session

Relates to the duty of real estate brokers to supervise salespersons and associate brokers

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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2023-A8119 (ACTIVE) - Details

See Senate Version of this Bill:
S411
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §442-c, RP L
Versions Introduced in 2021-2022 Legislative Session:
A9740, S2156

2023-A8119 (ACTIVE) - Summary

Codifies the duty of real estate brokers to supervise salespersons and associate brokers through regular, frequent and consistent personal guidance, instruction and oversight; lists elements of supervision including the ability to familiarize salespersons with state and federal laws against discrimination.

2023-A8119 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8119
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             October 13, 2023
                                ___________
 
 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  the  duty  of  a
   licensed real estate broker to supervise real estate salespersons
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 442-c of the real property law, as amended by chap-
 ter 529 of the laws of 2022, is amended to read as follows:
   § 442-c. Violations  by  salespersons;  DUTY  TO  SUPERVISE;  broker's
 responsibility.  1.  A  LICENSED REAL ESTATE BROKER SHALL HAVE A DUTY TO
 EXERCISE REASONABLE AND ADEQUATE SUPERVISION OVER REAL ESTATE  SALESPER-
 SONS  AND  ASSOCIATE  REAL  ESTATE BROKERS THROUGH REGULAR, FREQUENT AND
 CONSISTENT PERSONAL GUIDANCE, INSTRUCTION AND OVERSIGHT. REASONABLE  AND
 ADEQUATE  SUPERVISION  SHALL  ALSO BE DETERMINED BY: THE AVAILABILITY OF
 THE SUPERVISING BROKER TO ALL SALESPERSONS AND ASSOCIATE  BROKERS  UNDER
 THE  SUPERVISION  OF THE BROKER TO REVIEW AND APPROVE ALL DOCUMENTS; THE
 DISTANCE BETWEEN THE SUPERVISING BROKER'S MAIN LOCATION AND  ALL  BRANCH
 OFFICES  WITH  SALESPERSONS AND ASSOCIATE BROKERS THE SUPERVISING BROKER
 OVERSEES; AND THE ABILITY OF THE BROKER TO FAMILIARIZE SALESPERSONS  AND
 ASSOCIATE BROKERS WITH THE REQUIREMENTS OF FEDERAL AND STATE LAW GOVERN-
 ING  REAL  ESTATE  TRANSACTIONS, INCLUDING, WITHOUT LIMITATION, PROHIBI-
 TIONS AGAINST DISCRIMINATION.
   2. No violation of a provision of this article by a real estate sales-
 person or employee of a real estate broker shall be deemed to  be  cause
 for the revocation or suspension of the license of the broker, unless it
 shall  appear that the broker had actual knowledge of such violation, OR
 FAILED TO EXERCISE REASONABLE AND ADEQUATE  SUPERVISION  OVER  THE  REAL
 ESTATE  SALESPERSON OR ASSOCIATE BROKER or retains the benefits, profits
 or proceeds of a transaction wrongfully negotiated by their salesperson,
 ASSOCIATE BROKER or employee after notice of the salesperson's,  ASSOCI-
 ATE  BROKER'S  or  employee's  misconduct. A broker shall be guilty of a
 misdemeanor for having any salesperson associated with  their  firm  who
 has not secured the required license authorizing such employment.
   § 2. This act shall take effect immediately.

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