senate Bill S3318A

2015-2016 Legislative Session

Defines a real estate team as two or more persons associated with the same real estate brokerage who hold themselves out or operate as a team

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Archive: Last Bill Status - Passed Senate


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

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Actions

view actions (9)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 09, 2016 referred to judiciary
delivered to assembly
passed senate
ordered to third reading cal.1606
committee discharged and committed to rules
Jan 06, 2016 referred to judiciary
May 07, 2015 print number 3318a
May 07, 2015 amend (t) and recommit to judiciary
Feb 05, 2015 referred to judiciary

S3318 - Details

See Assembly Version of this Bill:
A7323
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §440, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5508
2017-2018: S3537, A6540
2019-2020: S395

S3318 - Summary

Defines a real estate team as two or more persons associated with the same real estate brokerage who hold themselves out or operate as a team.

S3318 - Sponsor Memo

S3318 - Bill Text download pdf

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

                                  3318

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 5, 2015
                               ___________

Introduced  by  Sen.  LANZA  -- 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  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.
                                                           LBD01775-01-5

Co-Sponsors

S3318A (ACTIVE) - Details

See Assembly Version of this Bill:
A7323
Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §440, RP L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5508
2017-2018: S3537, A6540
2019-2020: S395

S3318A (ACTIVE) - Summary

Defines a real estate team as two or more persons associated with the same real estate brokerage who hold themselves out or operate as a team.

S3318A (ACTIVE) - Sponsor Memo

S3318A (ACTIVE) - Bill Text download pdf

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

                                 3318--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 5, 2015
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be committed 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

  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 AN ASSOCIATE
REAL ESTATE BROKER OR REAL ESTATE SALESPERSON, ASSOCIATED WITH THE  SAME
REAL ESTATE BROKERAGE WHO HOLD THEMSELVES OUT OR OPERATE AS A TEAM.
  S 2.  This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01775-02-5

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