Assembly Bill A9998

2023-2024 Legislative Session

Provides for the appointment of foreclosure receivers and managing agents in N.Y. city

download bill text pdf

Sponsored By

Current 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-A9998 (ACTIVE) - Details

See Senate Version of this Bill:
S2954
Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd §1325, RPAP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5562
2015-2016: S1425
2017-2018: S1072
2019-2020: S481
2021-2022: S2536

2023-A9998 (ACTIVE) - Summary

Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more.

2023-A9998 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9998
 
                           I N  A S S E M B L Y
 
                                May 1, 2024
                                ___________
 
 Introduced  by M. of A. JACKSON -- read once and referred to the Commit-
   tee on Judiciary
 
 AN ACT to amend the  real  property  actions  and  proceedings  law,  in
   relation  to  the  appointment  of receivers in actions to foreclose a
   mortgage
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Subdivision 1 of section 1325 of the real property actions
 and proceedings law, as added by chapter 312 of the  laws  of  1962,  is
 amended to read as follows:
   1. (A) Where the action is for the foreclosure of a mortgage providing
 that  a receiver may be appointed without notice, notice of a motion for
 such appointment shall not be required.
   (B) IN A CITY WITH A POPULATION OF ONE MILLION  OR  MORE,  THE  AGENCY
 HAVING  JURISDICTION FOR ADMINISTERING AND ENFORCING THE LAWS, RULES AND
 REGULATIONS RELATING TO THE OPERATION, REPAIR OR MAINTENANCE OF RESIDEN-
 TIAL REAL PROPERTY MAY SUBMIT TO THE CHIEF ADMINISTRATIVE JUDGE  OF  THE
 SUPREME  COURT A LIST OF PERSONS SUCH AGENCY HAS DETERMINED TO BE QUALI-
 FIED TO BE APPOINTED AS A RECEIVER OR AS A MANAGING AGENT.   WHERE  SUCH
 AGENCY  SUBMITS  SUCH  LIST TO THE CHIEF ADMINISTRATIVE JUDGE, THE COURT
 MAY ONLY APPOINT A RECEIVER WHOSE NAME APPEARS ON SUCH  LIST,  AND  SUCH
 RECEIVER  MAY  ONLY  APPOINT A MANAGING AGENT WHOSE NAME APPEARS ON SUCH
 LIST.
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07029-01-3

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