Assembly Bill A750

2013-2014 Legislative Session

Creates the New York title guaranty authority

download bill text pdf

Sponsored By

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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2013-A750 (ACTIVE) - Details

Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:
Public Authorities Law
Laws Affected:
Add Art 10-D Title 4 §§3974 - 3980, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9445
2011-2012: A2015
2015-2016: A2895
2017-2018: A5053
2019-2020: A4045
2023-2024: A6364

2013-A750 (ACTIVE) - Summary

Creates the New York title guaranty authority to initiate and operate a program which shall offer guaranties of real property titles in this state.

2013-A750 (ACTIVE) - Bill Text download pdf

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

                                   750

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by M. of A. WEPRIN -- Multi-Sponsored by -- M. of A. BARRON,
  BRENNAN, GIBSON, GOTTFRIED, JACOBS,  MAGEE,  PEOPLES-STOKES,  ROBERTS,
  STEVENSON,  SWEENEY,  WEISENBERG  --  read  once  and  referred to the
  Committee on Corporations, Authorities and Commissions

AN ACT to amend the public authorities law, in relation to creating  the
  New York title guaranty authority

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

  Section 1. 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 AUTHORITY
SECTION 3974. SHORT TITLE.
        3975. NEW YORK TITLE GUARANTY AUTHORITY.
        3976. ADMINISTRATION OF THE AUTHORITY.
        3977. GENERAL POWERS OF THE AUTHORITY.
        3978. SPECIAL POWERS OF THE AUTHORITY.
        3979. NEW YORK TITLE GUARANTY FUND.
        3980. PARTICIPATING ATTORNEYS.
  S  3974.  SHORT TITLE. THIS ACT SHALL BE KNOWN AND MAY BE CITED AS THE
"NEW YORK TITLE GUARANTY AUTHORITY ACT".
  S 3975. NEW YORK TITLE GUARANTY AUTHORITY. 1. THERE IS HEREBY  CREATED
THE NEW YORK TITLE GUARANTY AUTHORITY, TO INITIATE AND OPERATE A PROGRAM
WHICH  SHALL OFFER GUARANTIES OF REAL PROPERTY TITLES IN THIS STATE. THE
AUTHORITY SHALL BE A CORPORATE GOVERNMENTAL AGENCY  AND  INSTRUMENTALITY
OF THE STATE CONSTITUTING A PUBLIC BENEFIT CORPORATION.
  2.  IN ACCORDANCE WITH THE PROVISIONS OF THIS TITLE, THE AUTHORITY MAY
ISSUE BONDS ONLY TO FINANCE COSTS, INCLUDING THE FUNDING OF BONDS ISSUED
BY THE AUTHORITY TO FINANCE COSTS, AND  FUND  RESERVES  TO  SECURE  SUCH
BONDS.

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

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