Assembly Bill A7388

Signed By Governor
2011-2012 Legislative Session

Relates to a bail bond secured by real property

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Archive: Last Bill Status - Signed by Governor

  • 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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2011-A7388 (ACTIVE) - Details

See Senate Version of this Bill:
S3947
Law Section:
Criminal Procedure Law
Laws Affected:
Amd §500.10, CP L

2011-A7388 (ACTIVE) - Summary

Relates to a bail bond secured by real property.

2011-A7388 (ACTIVE) - Bill Text download pdf 

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

                                  7388

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               May 3, 2011
                               ___________

Introduced  by M. of A. CYMBROWITZ -- (at request of the Office of Court
  Administration) -- read once and referred to the Committee on Codes

AN ACT to amend the criminal procedure law, in relation to a  bail  bond
  secured by real property

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

  Section 1. Paragraph (b) of subdivision 17 of section  500.10  of  the
criminal  procedure  law, as amended by chapter 316 of the laws of 1992,
is amended to read as follows:
  (b) Real property having a value of at least twice the total amount of
the undertaking. For purposes of this paragraph, value of real  property
is determined by EITHER:
  (I)  dividing  the  last  assessed  value of such property by the last
given equalization rate or in a special assessing unit,  as  defined  in
article  eighteen  of  the  real property tax law, the appropriate class
ratio established pursuant to section twelve hundred two of such law  of
the  assessing  municipality  wherein  the  property  is situated and by
deducting from the resulting figure the total amount  of  any  liens  or
other encumbrances upon such property; OR
  (II)  THE  VALUE OF THE PROPERTY AS INDICATED IN A CERTIFIED APPRAISAL
REPORT SUBMITTED BY A STATE CERTIFIED GENERAL REAL ESTATE APPRAISER DULY
LICENSED BY THE DEPARTMENT OF STATE AS PROVIDED IN SECTION  ONE  HUNDRED
SIXTY-J  OF THE EXECUTIVE LAW, AND BY DEDUCTING FROM THE APPRAISED VALUE
THE TOTAL AMOUNT OF ANY LIENS OR OTHER ENCUMBRANCES UPON SUCH  PROPERTY.
A LIEN REPORT ISSUED BY A TITLE INSURANCE COMPANY LICENSED UNDER ARTICLE
SIXTY-FOUR  OF  THE  INSURANCE LAW, THAT GUARANTEES THE CORRECTNESS OF A
LIEN SEARCH CONDUCTED BY IT, SHALL BE PRESUMPTIVE PROOF  OF  LIENS  UPON
THE PROPERTY.
  S 2. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09519-01-1

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