NY State Senate Bill S7248

Archive: Last Bill Status - 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 (13)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Sep 09, 2016	signed chap.320
Sep 06, 2016	delivered to governor
May 18, 2016	returned to senate passed assembly ordered to third reading cal.617 substituted for a9474
May 17, 2016	referred to judiciary delivered to assembly passed senate
May 16, 2016	advanced to third reading
May 11, 2016	2nd report cal.
May 10, 2016	1st report cal.794
Apr 11, 2016	referred to judiciary

Votes

Co-Sponsors

S7248 (ACTIVE) - Details

See Assembly Version of this Bill:: A9474
Law Section:: Real Property Law
Laws Affected:: Amd §441, RP L

S7248 (ACTIVE) - Summary

Requires applicants for licenses and for renewals thereof as real estate brokers and real estate salesmen to complete instruction in the law of agency.

S7248 (ACTIVE) - Sponsor Memo

 BILL NUMBER:  S7248

 TITLE OF BILL :  An act to amend the real property law, in relation
to requiring three hours of agency related coursework as a requirement
for renewal of a real estate license

 PURPOSE OF BILL :

The bill amends the real property law to require two hours of agency
related coursework in the licensee's initial two-year licensing term
as part of the 22 1/2 hours of continuing education required for
renewal of a real estate license in New York. In subsequent license
terms one hour of agency related coursework will be required.

 SUMMARY OF PROVISIONS OF BILL :

Section 1. Section 441(3)(a) subsection 7 of the real property law is
amended to add "at least one hour of instruction pertaining to agency
except in the case of the initial two-year licensing term for real
estate salespersons, two hours of agency related instruction must be
completed".

 JUSTIFICATION :

Understanding the agency relationship created between buyers/sellers,
landlords/tenants and the real estate professional representing them

during the real estate transaction is essential.

There are many real estate professionals and consumers who are often
confused by the agency relationships created during the real estate
transaction. At various points in time there may be several different
agency relationships created, terminated or changed from first
encounter to the closing table. Understanding what fiduciary duties
are owed, the proper use of the agency disclosure form, and the
ability to successfully represent clients in various forms of agency
relationships such as buyer/tenant agency, seller/landlord agency and
dual agency are critical for consumer protection.

 LEGISLATIVE HISTORY :

New bill, 2016.

 FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS :

None.

 EFFECTIVE DATE :
This act shall take effect on the first of January next succeeding the
date on which it shall have become law. Effective immediately, the
Secretary of State shall promulgate necessary and advisable rules and
regulations for the implementation of this act.

S7248 (ACTIVE) - Bill Text download pdf

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

                                  7248

                            I N  S E N A T E

                             April 11, 2016
                               ___________

Introduced  by  Sen. BONACIC -- 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  requiring  three
  hours  of  agency related coursework as a requirement for renewal of a
  real estate license

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

  Section  1.  Paragraph (a) of subdivision 3 of section 441 of the real
property law, as amended by section 1 of part D of chapter  328  of  the
laws of 2014, is amended to read as follows:
  (a) No renewal license shall be issued any licensee under this article
for any license period commencing November first, nineteen hundred nine-
ty-five unless such licensee shall have within the two year period imme-
diately preceding such renewal attended at least twenty-two and one-half
hours which shall include at least three hours of instruction pertaining
to  fair  housing  and/or  discrimination  in the sale or rental of real
property or an interest in real property, AT LEAST ONE HOUR OF  INSTRUC-
TION  PERTAINING  TO THE LAW OF AGENCY EXCEPT IN THE CASE OF THE INITIAL
TWO-YEAR LICENSING TERM FOR REAL ESTATE SALESPERSONS, TWO HOURS OF AGEN-
CY RELATED INSTRUCTION MUST BE COMPLETED, and successfully  completed  a
continuing  education  real  estate  course  or  courses approved by the
secretary of state as to method, content and supervision, which approval
may be withdrawn if in the opinion of the secretary of state such course
or courses are not being conducted properly as to  method,  content  and
supervision.  For those individuals licensed pursuant to subdivision six
of section four hundred forty-two-g of this article, in the individual's
initial license term, at least eleven hours of the  required  twenty-two
and one-half hours of continuing education shall be completed during the
first year of the term. Of those eleven hours, three hours shall pertain
to  applicable  New  York  state  statutes and regulations governing the
practice of real estate brokers and salespersons. To  establish  compli-
ance with the continuing education requirements imposed by this section,
licensees  shall  provide  an  affidavit,  in  a  form acceptable to the
department of state, establishing the nature of the continuing education

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

                                                           LBD14608-01-6

S. 7248                             2

acquired and shall provide such further proof as required by the depart-
ment of state. The provisions of this paragraph shall not apply  to  any
licensed  real estate broker who is engaged full time in the real estate
business  and  who  has  been  licensed under this article prior to July
first, two thousand eight for at least fifteen consecutive  years  imme-
diately preceding such renewal.
  S  2. This act shall take effect on the first of January next succeed-
ing the date on which it shall have become a law.    Provided,  however,
effective immediately, the secretary of state shall promulgate necessary
and  advisable  rules  and  regulations  for  the  implementation of the
provisions of this act on its effective date.

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The New York State Senate

senate Bill S7248

Sponsored By

Archive: Last Bill Status - Signed by Governor

Your Voice

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Votes

May 17, 2016 - floor Vote

Floor Vote: May 17, 2016

May 10, 2016 - Judiciary committee Vote

Judiciary Committee Vote: May 10, 2016

Co-Sponsors

S7248 (ACTIVE) - Details

S7248 (ACTIVE) - Summary

S7248 (ACTIVE) - Sponsor Memo

S7248 (ACTIVE) - Bill Text download pdf

Comments

senate Bill S7248

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Sponsored By

John J. Bonacic

Archive: Last Bill Status - Signed by Governor

Your Voice

Actions

Votes

May 17, 2016 - floor Vote

Floor Vote: May 17, 2016

May 10, 2016 - Judiciary committee Vote

Judiciary Committee Vote: May 10, 2016

Co-Sponsors

George Latimer

Michael H. Ranzenhofer

S7248 (ACTIVE) - Details

S7248 (ACTIVE) - Summary

S7248 (ACTIVE) - Sponsor Memo

S7248 (ACTIVE) - Bill Text download pdf

Comments