assembly Bill A7840A

2013-2014 Legislative Session

Requires real estate teams to be registered with the department of state

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to judiciary
Jun 10, 2013 print number 7840a
Jun 10, 2013 amend and recommit to judiciary
Jun 06, 2013 referred to judiciary

A7840 - Details

See Senate Version of this Bill:
S5508
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §440, add §440-c, RP L
Versions Introduced in Other Legislative Sessions:
2015-2016: S3318
2017-2018: S3537
2019-2020: S395

A7840 - Summary

Requires real estate teams to be registered with the department of state.

A7840 - Bill Text download pdf

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

                                  7840

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 6, 2013
                               ___________

Introduced by M. of A. CUSICK -- read once and referred to the Committee
  on Judiciary

AN  ACT  to  amend  the  real property law, in relation to defining real
  estate team and requiring the registration of real estate teams

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

  Section 1. Section 440 of the real property law is amended by adding a
new subdivision 7 to read as follows:
  7. "TEAM" MEANS TWO OR MORE PERSONS, ONE OF WHOM MUST BE A REAL ESTATE
BROKER, ASSOCIATE REAL ESTATE BROKER OR REAL ESTATE SALESPERSON, WHO ARE
ASSOCIATED  WITH  THE  SAME REAL ESTATE BROKERAGE AND WHO REGISTER THEM-
SELVES AS A TEAM PURSUANT TO THIS ARTICLE.
  S 2. The real property law is amended by adding a new section 440-c to
read as follows:
  S 440-C. REAL ESTATE TEAMS; REGISTRATION. 1. ANY  DULY  LICENSED  REAL
ESTATE BROKER, ASSOCIATE BROKER OR SALESPERSON DESIRING TO ACT AS A REAL
ESTATE TEAM SHALL HAVE THE REAL ESTATE BROKER WITH WHOM THEY ARE ASSOCI-
ATED  FILE,  WITH  THE  DEPARTMENT  OF STATE AT ITS OFFICE IN ALBANY, AN
APPLICATION FOR THE REGISTRATION OF THE TEAM NAME.
  SUCH APPLICATION SHALL BE IN SUCH FORM AND DETAIL AS  SUCH  DEPARTMENT
SHALL PRESCRIBE INCLUDING:
  (A)  THE  FULL TEAM NAME AND ADDRESS OF THE OFFICE WHERE THE TEAM WILL
OPERATE; AND
  (B) THE NAME OR NAMES AND LICENSE NUMBER OR NUMBERS  OF  THE  LICENSED
INDIVIDUAL OR INDIVIDUALS COMPRISING THE TEAM NAME.
  2.  TEAM NAMES SHALL EITHER:
  (A)  INCLUDE THE FULL LICENSED NAME OF AT LEAST ONE OF THE REAL ESTATE
BROKER OR BROKERS, ASSOCIATE BROKER OR BROKERS OR REAL ESTATE  SALESPER-
SON OR SALESPERSONS THAT ARE PART OF SUCH TEAM; OR
  (B) IF SUCH A NAME IS NOT INCLUDED, THE TEAM NAME SHALL BE IMMEDIATELY
FOLLOWED BY "AT/OF (FULL NAME OF REAL ESTATE BROKER/BROKERAGE)".

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11016-04-3

Co-Sponsors

Multi-Sponsors

A7840A (ACTIVE) - Details

See Senate Version of this Bill:
S5508
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §440, add §440-c, RP L
Versions Introduced in Other Legislative Sessions:
2015-2016: S3318
2017-2018: S3537
2019-2020: S395

A7840A (ACTIVE) - Summary

Requires real estate teams to be registered with the department of state.

A7840A (ACTIVE) - Bill Text download pdf

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

                                 7840--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 6, 2013
                               ___________

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

AN ACT to amend the real property law,  in  relation  to  defining  real
  estate team and requiring the registration of real estate teams

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

  Section 1. Section 440 of the real property law is amended by adding a
new subdivision 7 to read as follows:
  7. "TEAM" MEANS TWO OR MORE PERSONS, ONE OF WHOM MUST BE A REAL ESTATE
BROKER, ASSOCIATE REAL ESTATE BROKER OR REAL ESTATE SALESPERSON, WHO ARE
ASSOCIATED WITH THE SAME REAL ESTATE BROKERAGE AND  WHO  REGISTER  THEM-
SELVES AS A TEAM PURSUANT TO THIS ARTICLE.
  S 2. The real property law is amended by adding a new section 440-c to
read as follows:
  S  440-C.  REAL  ESTATE TEAMS; REGISTRATION. 1. ANY DULY LICENSED REAL
ESTATE BROKER, ASSOCIATE BROKER OR SALESPERSON DESIRING TO ACT AS A REAL
ESTATE TEAM SHALL HAVE THE REAL ESTATE BROKER WITH WHOM THEY ARE ASSOCI-
ATED FILE, WITH THE DEPARTMENT OF STATE AT  ITS  OFFICE  IN  ALBANY,  AN
APPLICATION FOR THE REGISTRATION OF THE TEAM NAME.
  SUCH  APPLICATION  SHALL BE IN SUCH FORM AND DETAIL AS SUCH DEPARTMENT
SHALL PRESCRIBE INCLUDING:
  (A) THE FULL TEAM NAME AND ADDRESS OF THE OFFICE WHERE THE  TEAM  WILL
OPERATE; AND
  (B)  THE  NAME  OR NAMES AND LICENSE NUMBER OR NUMBERS OF THE LICENSED
INDIVIDUAL OR INDIVIDUALS COMPRISING THE TEAM NAME.
  2.  TEAM NAMES SHALL EITHER:
  (A) INCLUDE THE FULL LICENSED NAME OF AT LEAST ONE OF THE REAL  ESTATE
BROKER  OR BROKERS, ASSOCIATE BROKER OR BROKERS OR REAL ESTATE SALESPER-
SON OR SALESPERSONS THAT ARE PART OF SUCH TEAM; OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11016-05-3

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