senate Bill S6988A

Signed by Governor

Relates to the expiration of real estate licenses and service of a real estate salesman with a broker

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Sponsor

Co-Sponsors

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
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actions

  • 19 / Apr / 2012
    • REFERRED TO JUDICIARY
  • 27 / Apr / 2012
    • AMEND AND RECOMMIT TO JUDICIARY
  • 27 / Apr / 2012
    • PRINT NUMBER 6988A
  • 15 / May / 2012
    • 1ST REPORT CAL.791
  • 16 / May / 2012
    • 2ND REPORT CAL.
  • 21 / May / 2012
    • ADVANCED TO THIRD READING
  • 22 / May / 2012
    • PASSED SENATE
  • 22 / May / 2012
    • DELIVERED TO ASSEMBLY
  • 22 / May / 2012
    • REFERRED TO JUDICIARY
  • 14 / Jun / 2012
    • SUBSTITUTED FOR A9996A
  • 14 / Jun / 2012
    • ORDERED TO THIRD READING RULES CAL.228
  • 14 / Jun / 2012
    • PASSED ASSEMBLY
  • 14 / Jun / 2012
    • RETURNED TO SENATE
  • 20 / Jul / 2012
    • DELIVERED TO GOVERNOR
  • 01 / Aug / 2012
    • SIGNED CHAP.345

Summary

Relates to the expiration of real estate licenses and service of a real estate salesman with a broker.

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Bill Details

See Assembly Version of this Bill:
A9996A
Versions:
S6988
S6988A
Legislative Cycle:
2011-2012
Law Section:
Real Property Law
Laws Affected:
Amd ยง441-a, RP L

Sponsor Memo

BILL NUMBER:S6988A

TITLE OF BILL:
An act to amend the real property law, in relation to real estate
license terms and service with a real estate broker

PURPOSE:
The bill amends the real property law to make a technical amendment to
the real estate license term and expiration, and streamlines the process
by which real estate brokers and salespersons terminate and establish
new records of association.

SUMMARY OF PROVISIONS:
Subdivision 2 of section 441-a of the real property law is amended to
make the "Term" of a real estate license the two year term up to and
including the date specified on the real estate license.

Subdivision 11 of section 441-a of the real property law is amended to
require a real estate broker to the termination of association with the
Secretary of State if a real estate salesperson leaves the service of
the real estate broker to pay a $20 fee to the Department of State upon
the establishment of a new record of association with a broker.

Section 2 This act shall take effect on January 1, 2013.

JUSTIFICATION:
Real estate practitioners are licensed in New York by the Department of
State for a period of two years beginning at the application approval
date. Subdivision 2 of Section 441-a of the real property law relating
to real estate license terms however still refers to a universal license
expiration date of the "thirty-first day of October of the year in which
the license by its terms expires." This bill provides a technical amend-
ment to bring the text of subdivision 2 of Section 441-a of the Real
Property Law in line with the actual licensing renewal in practice in
New York State.

Subdivision 11 of Section 441-a of the Real Property Law currently
requires real estate brokers to file a termination of association with
the Secretary of State and pay a $10 fee when a real estate salesperson
disassociates with their brokerage. The real estate salesperson or spon-
soring broker is then also required to pay a $10 fee when the salesper-
son re-associates or joins with a new broker. The disassociation fees
provide an opportunity for contention and therefore could delay the real
estate salesperson from actively participating under their license. This
bill would amend Subdivision 11 of Section 441-a of the Real Property
Law to streamline this process by requiring a real estate broker to file
only the termination of association with the Secretary of State when a
real estate salesperson leaves the service of the real estate broker,
and requiring the salesperson or their new sponsoring broker, to pay a
$20 fee upon the establishment of a new record of association with the
department of state.

LEGISLATIVE HISTORY:
New Bill.

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:
Effective January 1, 2013.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6988--A

                            I N  S E N A T E

                             April 19, 2012
                               ___________

Introduced  by  Sens.  O'MARA, LIBOUS -- read twice and ordered printed,
  and when printed to be committed to  the  Committee  on  Judiciary  --
  committee  discharged,  bill amended, ordered reprinted as amended and
  recommitted to said committee

AN ACT to amend the real  property  law,  in  relation  to  real  estate
  license terms and service with a real estate broker

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivisions 2 and 11 of section 441-a of the real property
law, subdivision 2 as amended by chapter 324 of the  laws  of  1998  and
subdivision  11  as added by chapter 61 of the laws of 1989, are amended
to read as follows:
  2. Terms. A license issued or reissued under the  provisions  of  this
article  shall  entitle  the  person,  co-partnership, limited liability
company or corporation to act as a real estate broker, or, if the appli-
cation is for a real estate salesman's license, to act as a real  estate
salesman  in  this  state  up  to and including the [thirty-first day of
October of the year] DATE in which the license by its terms expires.
  11. If a real estate salesperson shall leave the  service  of  a  real
estate  broker, the real estate broker shall file a termination of asso-
ciation notice on such form as secretary may  designate.  [The  fee  for
terminating  the  record  of  association  shall  be  ten  dollars.] The
salesperson's license may be endorsed to a new  sponsoring  broker  upon
the  establishment of a new record of association filed with the depart-
ment of state. The fee for filing a record of association shall be [ten]
TWENTY dollars.
  S 2. This act shall take effect January 1, 2013.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15154-03-2

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