Assembly Bill A7245A

Signed By Governor
2013-2014 Legislative Session

Provides that a land bank may tender a bid on sales of property made pursuant to public sale, county charter, city charter, administrative code or special law, when no municipality elects to do so

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Archive: Last Bill Status Via S5167 - 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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Bill Amendments

2013-A7245 - Details

See Senate Version of this Bill:
S5167
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§1603 & 1616, N-PC L

2013-A7245 - Summary

Provides that a land bank may tender a bid on sales of property made pursuant to public sale, county charter, city charter, administrative code or special law, when no municipality elects to do so.

2013-A7245 - Bill Text download pdf 

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

                                  7245

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               May 8, 2013
                               ___________

Introduced  by  M. of A. RYAN -- read once and referred to the Committee
  on Corporations, Authorities and Commissions

AN ACT to amend the not-for-profit corporation law, in relation  to  the
  sale of property to land banks

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

  Section 1. Subparagraph 2 of paragraph (a)  of  section  1603  of  the
not-for-profit  corporation  law, as added by chapter 257 of the laws of
2011, is amended to read as follows:
  (2) the number of members of  the  board  of  directors,  which  shall
consist  of  an  odd  number of members, and shall be not less than five
members nor more than [eleven] FIFTEEN members;
  S 2. Paragraph (i) of section 1616 of the  not-for-profit  corporation
law,  as added by chapter 257 of the laws of 2011, is amended to read as
follows:
  (i) Notwithstanding any other provision of law to the contrary, in the
event that no municipality elects  to  tender  a  bid  at  a  judicially
ordered  sale pursuant to the provisions of section eleven hundred thir-
ty-six of the real property tax law OR SALE PURSUANT TO A  COUNTY  CHAR-
TER,  CITY  CHARTER,  ADMINISTRATIVE CODE, OR SPECIAL LAW, the land bank
may tender a bid at such sale in an amount equal to the total amount  of
all municipal claims and liens which were the basis for the judgment. In
the  event  of such tender by the land bank the property shall be deemed
sold to the land bank regardless of any bids by any other third parties.
The bid of the land bank shall be paid as to its  form,  substance,  and
timing  according  to  such  agreement  as is mutually acceptable to the
plaintiff and the land bank. The obligation of the land bank to  perform
in  accordance  with such agreement shall be deemed to be in full satis-
faction of the municipal claim which was the basis for the judgment. The
land bank, as purchaser at such JUDICIALLY ORDERED sale OR SALE PURSUANT
TO A COUNTY CHARTER, CITY CHARTER, ADMINISTRATIVE CODE, OR SPECIAL  LAW,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09821-01-3

co-Sponsors

2013-A7245A (ACTIVE) - Details

See Senate Version of this Bill:
S5167
Law Section:
Not-for-Profit Corporation Law
Laws Affected:
Amd §§1603 & 1616, N-PC L

2013-A7245A (ACTIVE) - Summary

Provides that a land bank may tender a bid on sales of property made pursuant to public sale, county charter, city charter, administrative code or special law, when no municipality elects to do so.

2013-A7245A (ACTIVE) - Bill Text download pdf 

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

                                 7245--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               May 8, 2013
                               ___________

Introduced  by  M. of A. RYAN -- read once and referred to the Committee
  on Corporations, Authorities and Commissions -- committee  discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee

AN ACT to amend the not-for-profit corporation law, in relation  to  the
  sale of property to land banks

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

  Section 1. Subparagraph 2 of paragraph (a)  of  section  1603  of  the
not-for-profit  corporation  law, as added by chapter 257 of the laws of
2011, is amended to read as follows:
  (2) the number of members of  the  board  of  directors,  which  shall
consist  of  an  odd  number of members, and shall be not less than five
members nor more than [eleven] FIFTEEN members;
  S 2. Paragraph (i) of section 1616 of the  not-for-profit  corporation
law,  as added by chapter 257 of the laws of 2011, is amended to read as
follows:
  (i) Notwithstanding any other provision of law to the contrary, in the
event that no municipality elects to  tender  a  bid  at  a  [judicially
ordered]  PUBLIC  sale  pursuant  to  the  provisions  of section eleven
hundred [thirty-six] SIXTY-SIX of the real  property  tax  law  OR  SALE
PURSUANT  TO  THE PROVISIONS OF A COUNTY CHARTER, CITY CHARTER, ADMINIS-
TRATIVE CODE, OR  SPECIAL  LAW  WHEN  APPLICABLE  UNDER  SECTION  ELEVEN
HUNDRED  FOUR  OF  THE REAL PROPERTY TAX LAW, the land bank may tender a
bid at such sale in an amount equal to the total amount of all municipal
claims and liens which were the basis for the judgment. In the event  of
such  tender  by  the land bank the property shall be deemed sold to the
land bank regardless of any bids by any other third parties. The bid  of
the  land  bank  shall  be  paid  as  to its form, substance, and timing
according to such agreement as is mutually acceptable to  the  plaintiff
and the land bank. The obligation of the land bank to perform in accord-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09821-04-3

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