senate Bill S8050A

2017-2018 Legislative Session

Relates to the registration of real estate appraisal management companies by the department of state

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance 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 (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 08, 2018 print number 8050a
Jun 08, 2018 amend and recommit to finance
Mar 22, 2018 referred to finance

Co-Sponsors

S8050 - Details

Current Committee:
Senate Finance
Law Section:
Executive Law
Laws Affected:
Add Art 6-H §§160-aaaa - 160-xxxx, Exec L

S8050 - Summary

Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state.

S8050 - Sponsor Memo

S8050 - Bill Text download pdf


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

                                  8050

                            I N  S E N A T E

                             March 22, 2018
                               ___________

Introduced by Sens. HAMILTON, LITTLE -- (at request of the Department of
  State)  --  read  twice  and  ordered  printed, and when printed to be
  committed to the Committee on Finance

AN ACT to amend the executive law, in relation to registration  of  real
  estate appraisal management companies by the department of state

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

  Section 1. The executive law is amended by adding a new article 6-H to
read as follows:
                               ARTICLE 6-H
               REAL ESTATE APPRAISAL MANAGEMENT COMPANIES
SECTION 160-AAAA. DEFINITIONS.
        160-BBBB. REGISTRATION REQUIRED.
        160-CCCC. EXEMPTIONS.
        160-DDDD. FORMS.
        160-EEEE. DENIAL OF REGISTRATION.
        160-FFFF. EXPIRATION OF LICENSE.
        160-GGGG. FEES.
        160-HHHH. OWNER REQUIREMENTS.
        160-IIII. CONTROLLING PERSONS.
        160-JJJJ. EMPLOYEE REQUIREMENTS.
        160-KKKK. RESTRICTIONS.
        160-LLLL. RECORDKEEPING.
        160-MMMM. APPRAISER INDEPENDENCE; UNLAWFUL ACTS.
        160-NNNN. MANDATORY REPORTING.
        160-OOOO. UNPROFESSIONAL CONDUCT.
        160-PPPP. ALTERATION OF APPRAISAL REPORTS.
        160-QQQQ. ENFORCEMENT.
        160-RRRR. DISCIPLINARY HEARINGS.
        160-SSSS. POWER TO SUSPEND A LICENSE.
        160-TTTT. INVESTIGATION.
        160-UUUU. RULE-MAKING AUTHORITY.
        160-VVVV. VIOLATIONS.
        160-WWWW. SEVERABILITY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

Co-Sponsors

S8050A (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Executive Law
Laws Affected:
Add Art 6-H §§160-aaaa - 160-xxxx, Exec L

S8050A (ACTIVE) - Summary

Relates to the registration of real estate appraisal management companies or an individual or business entity that provides appraisal management services to creditors or to secondary mortgage market participants including affiliates by the department of state.

S8050A (ACTIVE) - Sponsor Memo

S8050A (ACTIVE) - Bill Text download pdf


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

                                 8050--A

                            I N  S E N A T E

                             March 22, 2018
                               ___________

Introduced by Sens. HAMILTON, LITTLE -- (at request of the Department of
  State)  --  read  twice  and  ordered  printed, and when printed to be
  committed to the Committee on Finance --  committee  discharged,  bill
  amended,  ordered reprinted as amended and recommitted to said commit-
  tee

AN ACT to amend the executive law, in relation to registration  of  real
  estate appraisal management companies by the department of state

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

  Section 1. The executive law is amended by adding a new article 6-H to
read as follows:
                               ARTICLE 6-H
               REAL ESTATE APPRAISAL MANAGEMENT COMPANIES
SECTION 160-AAAA. DEFINITIONS.
        160-BBBB. REGISTRATION REQUIRED.
        160-CCCC. EXEMPTIONS.
        160-DDDD. FORMS.
        160-EEEE. DENIAL OF REGISTRATION.
        160-FFFF. EXPIRATION OF LICENSE.
        160-GGGG. FEES.
        160-HHHH. OWNER REQUIREMENTS.
        160-IIII. CONTROLLING PERSONS.
        160-JJJJ. EMPLOYEE REQUIREMENTS.
        160-KKKK. RESTRICTIONS.
        160-LLLL. RECORDKEEPING.
        160-MMMM. APPRAISER INDEPENDENCE; UNLAWFUL ACTS.
        160-NNNN. MANDATORY REPORTING.
        160-OOOO. UNPROFESSIONAL CONDUCT.
        160-PPPP. ALTERATION OF APPRAISAL REPORTS.
        160-QQQQ. ENFORCEMENT.
        160-RRRR. DISCIPLINARY HEARINGS.
        160-SSSS. POWER TO SUSPEND A LICENSE.
        160-TTTT. INVESTIGATION.
        160-UUUU. RULE-MAKING AUTHORITY.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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