Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 17, 2014 |
signed chap.514 |
Dec 05, 2014 |
delivered to governor |
Jun 16, 2014 |
returned to senate passed assembly ordered to third reading rules cal.266 substituted for a7979b |
Jun 12, 2014 |
referred to codes delivered to assembly passed senate |
Jun 11, 2014 |
ordered to third reading cal.1334 committee discharged and committed to rules |
Jun 04, 2014 |
print number 5693b |
Jun 04, 2014 |
amend and recommit to judiciary |
May 29, 2014 |
print number 5693a |
May 29, 2014 |
amend and recommit to judiciary |
Jan 08, 2014 |
referred to judiciary returned to senate died in assembly |
Jun 20, 2013 |
referred to judiciary delivered to assembly passed senate ordered to third reading cal.1538 committee discharged and committed to rules |
Jun 05, 2013 |
referred to judiciary |
Senate Bill S5693
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
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
Actions
Votes
Bill Amendments
co-Sponsors
(D, IP) Senate District
2013-S5693 - Details
2013-S5693 - Sponsor Memo
BILL NUMBER:S5693 TITLE OF BILL: An act to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers PURPOSE OR GENERAL IDEA OF BILL: The bill amends § 442 of the Real Property Law titled "Splitting Commissions," to state that nothing shall prohibit a broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant as an incentive for using the licensed services of that broker. SUMMARY OF SPECIFIC PROVISIONS: Section 1. amends Section 442 of the real property law, to read: Nothing in this section shall prohibit a real estate broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant who is buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium or cooperative apartment. Such fee, commission, or other compensation must not be made to the seller, buyer, landlord or tenant for performing any activity requiring a license under this Article. Section 2. This act shall take effect immediately.
2013-S5693 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5693 2013-2014 Regular Sessions I N S E N A T E June 5, 2013 ___________ Introduced by Sen. ZELDIN -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 442 of the real property law, as amended by chapter 45 of the laws of 1982, the opening paragraph as amended by chapter 316 of the laws of 2004, the second undesignated paragraph as amended by chapter 734 of the laws of 1986, is amended to read as follows: S 442. Splitting commissions. 1. No real estate broker shall pay any part of a fee, commission or other compensation received by the broker to any person for any service, help or aid rendered in any place in which this article is applicable, by such person to the broker in buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium OR COOPERATIVE APARTMENT unless such a person be a duly licensed real estate salesman regularly associated with such broker or a duly licensed real estate broker or a person regularly engaged in the real estate brokerage busi- ness in a state outside of New York; provided, however, that notwith- standing any other provision of this section, it shall be permissible for a real estate broker to pay any part of a fee, commission, or other compensation received to an unlicensed corporation or an unlicensed limited liability company if each of its shareholders or members, respectively, is associated as an individual with the broker as a duly licensed associate broker or salesman. 2. Furthermore, notwithstanding any other provision of law, it shall be permissible for a broker properly registered pursuant to the provisions of article twenty-three-A of the general business law who earns a commission on the original sale of a cooperative or homeowners EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11341-02-3
co-Sponsors
(D, IP) Senate District
2013-S5693A - Details
2013-S5693A - Sponsor Memo
BILL NUMBER:S5693A TITLE OF BILL: An act to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers PURPOSE OR GENERAL IDEA OF BILL: The bill amends § 442 of the Real Property Law titled "Splitting Commissions," to state that nothing shall prohibit a broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant as an incentive for using the licensed services of that broker. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends section 442 of the real property law to include commissions earned in the sale or lease of cooperative apartments to the prohibition against splitting commission with a non-agent. Section 2 amends section 442 of the real property law to clarify that nothing in this section shall prohibit a real estate broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant who is buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium or cooperative
2013-S5693A - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5693--A 2013-2014 Regular Sessions I N S E N A T E June 5, 2013 ___________ Introduced by Sens. ZELDIN, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary -- recommitted to the Committee on Judiciary in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 442 of the real property law, as amended by chapter 45 of the laws of 1982, the opening paragraph as amended by chapter 316 of the laws of 2004, the second undesignated paragraph as amended by chapter 734 of the laws of 1986, is amended to read as follows: S 442. Splitting commissions. 1. No real estate broker shall pay any part of a fee, commission or other compensation received by the broker to any person for any service, help or aid rendered in any place in which this article is applicable, by such person to the broker in buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium OR COOPERATIVE APARTMENT unless such a person be a duly licensed real estate salesman regularly associated with such broker or a duly licensed real estate broker or a person regularly engaged in the real estate brokerage busi- ness in a state outside of New York; provided, however, that notwith- standing any other provision of this section, it shall be permissible for a real estate broker to pay any part of a fee, commission, or other compensation received to an unlicensed corporation or an unlicensed limited liability company if each of its shareholders or members, respectively, is associated as an individual with the broker as a duly licensed associate broker or salesman. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11341-04-4
co-Sponsors
(R, C, IP) Senate District
(D, IP) Senate District
2013-S5693B (ACTIVE) - Details
2013-S5693B (ACTIVE) - Sponsor Memo
BILL NUMBER:S5693B TITLE OF BILL: An act to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers PURPOSE OR GENERAL IDEA OF BILL: The bill amends § 442 of the Real Property Law titled "Splitting Commissions," to state that nothing shall prohibit a broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant as an incentive for using the licensed services of that broker. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends section 442 of the real property law to include commissions earned in the sale or lease of cooperative apartments to the prohibition against splitting commission with a non-agent. Subdivision 2 clarifies that nothing in this section shall prohibit a real estate broker from offering any part of a fee, commission, or other compensation received by the broker to the seller, buyer, landlord or tenant who is buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium or cooperative apartment. Such fee, commission, or other compensation must not be made to the seller,
2013-S5693B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5693--B 2013-2014 Regular Sessions I N S E N A T E June 5, 2013 ___________ Introduced by Sens. ZELDIN, VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary -- recommitted to the Committee on Judiciary in accordance with Senate Rule 6, sec. 8 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property law, in relation to clarifying the permissibility of commissions, fees or other compensation paid to real estate brokers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 442 of the real property law, as amended by chapter 45 of the laws of 1982, the opening paragraph as amended by chapter 316 of the laws of 2004, the second undesignated paragraph as amended by chapter 734 of the laws of 1986, is amended to read as follows: S 442. Splitting commissions. 1. No real estate broker shall pay any part of a fee, commission or other compensation received by the broker to any person for any service, help or aid rendered in any place in which this article is applicable, by such person to the broker in buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate including the resale of a condominium OR COOPERATIVE APARTMENT unless such a person be a duly licensed real estate salesman regularly associated with such broker or a duly licensed real estate broker or a person regularly engaged in the real estate brokerage busi- ness in a state outside of New York; provided, however, that notwith- standing any other provision of this section, it shall be permissible for a real estate broker to pay any part of a fee, commission, or other compensation received to an unlicensed corporation or an unlicensed limited liability company if each of its shareholders or members, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11341-08-4
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