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Senate Bill S1425

2015-2016 Legislative Session

Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more

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Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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2015-S1425 (ACTIVE) - Details

See Assembly Version of this Bill:
A7340
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Amd ยง1325, RPAP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5562
2017-2018: S1072, A5953
2019-2020: S481, A2178
2021-2022: S2536, A5980
2023-2024: S2954
2025-2026: S3823

2015-S1425 (ACTIVE) - Summary

Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more.

2015-S1425 (ACTIVE) - Sponsor Memo

2015-S1425 (ACTIVE) - Bill Text download pdf 

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

                                  1425

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 12, 2015
                               ___________

Introduced by Sens. RIVERA, ESPAILLAT -- read twice and ordered printed,
  and  when  printed  to  be  committed  to  the  Committee  on Housing,
  Construction and Community Development

AN ACT to amend the  real  property  actions  and  proceedings  law,  in
  relation  to  the  appointment  of receivers in actions to foreclose a
  mortgage

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

  Section  1. Subdivision 1 of section 1325 of the real property actions
and proceedings law, as added by chapter 312 of the  laws  of  1962,  is
amended to read as follows:
  1. (A) Where the action is for the foreclosure of a mortgage providing
that  a receiver may be appointed without notice, notice of a motion for
such appointment shall not be required.
  (B) IN A CITY WITH A POPULATION OF ONE MILLION  OR  MORE,  THE  AGENCY
HAVING  JURISDICTION FOR ADMINISTERING AND ENFORCING THE LAWS, RULES AND
REGULATIONS RELATING TO THE OPERATION, REPAIR OR MAINTENANCE OF RESIDEN-
TIAL REAL PROPERTY MAY SUBMIT TO THE CHIEF ADMINISTRATIVE JUDGE  OF  THE
SUPREME  COURT A LIST OF PERSONS SUCH AGENCY HAS DETERMINED TO BE QUALI-
FIED TO BE APPOINTED AS A RECEIVER OR AS A MANAGING AGENT.   WHERE  SUCH
AGENCY  SUBMITS  SUCH  LIST TO THE CHIEF ADMINISTRATIVE JUDGE, THE COURT
MAY ONLY APPOINT A RECEIVER WHOSE NAME APPEARS ON SUCH  LIST,  AND  SUCH
RECEIVER  MAY  ONLY  APPOINT A MANAGING AGENT WHOSE NAME APPEARS ON SUCH
LIST.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05845-01-5

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