§ 954. Mailing or delivery of bills to mortgage investing
institutions. 1. A mortgagor who has entered into a real property tax
escrow account may designate, on a form prescribed or approved by the
commissioner, a mortgage investing institution, and its successors,
agents or assigns to receive tax bills. Each such form shall be held by
the mortgage investing institution, or any successor to which the
account may be transferred, until the real property tax escrow account
is terminated, at which time such designation shall be null and void. A
mortgage investing institution in possession of such a form shall make
it available for inspection by the mortgagor or collecting officer upon
request. For any mortgage note executed prior to the first day of June,
nineteen hundred ninety, the mortgage investing institution shall, upon
the request of the collecting officer, provide any document that
evidences its authorization to receive tax bills or obligation to pay
taxes.

2. Notwithstanding the provisions of section nine hundred twenty-two,
thirteen hundred twenty-two, thirteen hundred twenty-four or fourteen
hundred thirty of this chapter, upon agreement between a collecting
officer and a mortgage investing institution, the mortgage investing
institution or its agent shall, no later than thirty days prior to the
last date established by law for the annexation of the warrant to the
assessment roll, present to the collecting officer a list in any
mutually agreeable format of the real property tax escrow accounts with
respect to which the mortgage investing institution or its agent has
been authorized by the mortgagor to receive tax bills. If the collecting
officer and mortgage investing institution agree, a list of additions
and deletions to the last such list so delivered may be presented
instead.

3. Upon receipt of such a list, the collecting officer shall take the
necessary actions to provide that the appropriate bills for the upcoming
levy will be mailed or delivered to the mortgage investing institution
or its agent. Such bills may be transmitted in any mutually agreeable
format, and need not include any information which the mortgage
investing institution or its agent deems extraneous for its purposes.
The collecting officer may, in addition thereto or in lieu thereof,
cause the appropriate tax billing addresses on the tax roll and the data
file, as such term is defined in section fifteen hundred eighty-one of
this chapter, to be changed to conform to such list.

4. Where a collecting officer receives such a list later than thirty
days prior to the last date prescribed by law for the annexation of the
warrant to the assessment roll, the collecting officer may accept the
same as if it were submitted in a timely manner.