assembly Bill A7979B

Signed By Governor
2013-2014 Legislative Session

Relates to clarifying the permissibility of commissions, fees, or other compensation paid to real estate brokers

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S5693 - Signed by Governor


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

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Actions

view actions (17)
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 16, 2014 substituted by s5693b
rules report cal.266
reported
Jun 09, 2014 reported referred to rules
Jun 02, 2014 print number 7979b
Jun 02, 2014 amend and recommit to codes
reported referred to codes
May 27, 2014 print number 7979a
May 27, 2014 amend and recommit to judiciary
Jan 08, 2014 referred to judiciary
Jun 13, 2013 referred to judiciary

Votes

view votes

Jun 11, 2014 - Rules committee Vote

S5693B
23
0
committee
23
Aye
0
Nay
0
Aye with Reservations
0
Absent
2
Excused
0
Abstained
show committee vote details

Jun 20, 2013 - Rules committee Vote

S5693
24
0
committee
24
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Co-Sponsors

A7979 - Details

See Senate Version of this Bill:
S5693
Law Section:
Real Property Law
Laws Affected:
Amd §442, RP L

A7979 - Summary

Relates to clarifying the permissibility of commissions, fees, or other compensation paid to real estate brokers.

A7979 - Bill Text download pdf

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

                                  7979

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 13, 2013
                               ___________

Introduced by M. of A. LAVINE -- read once and referred 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

A7979A - Details

See Senate Version of this Bill:
S5693
Law Section:
Real Property Law
Laws Affected:
Amd §442, RP L

A7979A - Summary

Relates to clarifying the permissibility of commissions, fees, or other compensation paid to real estate brokers.

A7979A - Bill Text download pdf

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

                                 7979--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 13, 2013
                               ___________

Introduced  by M. of A. LAVINE, BRONSON -- read once and referred to the
  Committee on Judiciary -- recommitted to the Committee on Judiciary in
  accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

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.
                                                           LBD11341-03-4

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A7979B (ACTIVE) - Details

See Senate Version of this Bill:
S5693
Law Section:
Real Property Law
Laws Affected:
Amd §442, RP L

A7979B (ACTIVE) - Summary

Relates to clarifying the permissibility of commissions, fees, or other compensation paid to real estate brokers.

A7979B (ACTIVE) - Bill Text download pdf

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

                                 7979--B

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                              June 13, 2013
                               ___________

Introduced  by M. of A. LAVINE, BRONSON -- read once and referred to the
  Committee on Judiciary -- recommitted to the Committee on Judiciary in
  accordance with Assembly Rule 3, sec. 2 -- committee discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee -- reported and referred to the Committee on  Codes  --  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.
                                                           LBD11341-07-4