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

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Bill Amendments

co-Sponsors

2017-S8050 - Details

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

2017-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.

2017-S8050 - Sponsor Memo

2017-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

2017-S8050A (ACTIVE) - Details

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

2017-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.

2017-S8050A (ACTIVE) - Sponsor Memo

2017-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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