senate Bill S317

2013-2014 Legislative Session

Prohibits mortgagee from refusing to accept partial mortgage payments

download bill text pdf

Sponsored By

Archive: Last Bill Status -


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to judiciary
Jan 09, 2013 referred to judiciary

Co-Sponsors

S317 - Details

See Assembly Version of this Bill:
A9276
Law Section:
Real Property Law
Laws Affected:
Add ยง254-e, RP L
Versions Introduced in 2011-2012 Legislative Session:
S6541, A8040

S317 - Summary

Prohibits mortgagee from refusing to accept partial mortgage payments.

S317 - Sponsor Memo

S317 - Bill Text download pdf

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

                                   317

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen.  DIAZ  --  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 prohibiting  mort-
  gagee from refusing to accept partial mortgage payments

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

  Section 1. The real property law is amended by adding  a  new  section
254-e to read as follows:
  S  254-E. REFUSAL BY MORTGAGEE TO ACCEPT PARTIAL MORTGAGE PAYMENTS. 1.
NO MORTGAGEE SHALL REFUSE TO ACCEPT  A  PARTIAL  PAYMENT  OF  AN  ENTIRE
AMOUNT  DUE  FROM A MORTGAGOR WHICH DOES NOT BRING THE MORTGAGOR CURRENT
ON HIS OR HER MORTGAGE DEBT.
  2. THE PROVISIONS OF THIS SECTION SHALL NOT BAR ANY OTHER  CONTRACTUAL
OR STATUTORY RIGHTS OR REMEDIES AVAILABLE TO A MORTGAGOR.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01005-01-3

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