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Assembly Bill A1670

2019-2020 Legislative Session

Requires utility corporations to record memorandum of utility surcharge agreements

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Archive: Last Bill Status - In Assembly Committee

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2019-A1670 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Law
Laws Affected:
Amd §242, RP L
Versions Introduced in Other Legislative Sessions:
2009-2010: A986
2011-2012: A1252
2013-2014: A386
2015-2016: A3301
2017-2018: A1662

2019-A1670 (ACTIVE) - Summary

Requires utility corporations to record memorandum of utility surcharge agreements with the recording officer of the county that the real property is located within.

2019-A1670 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1670
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 16, 2019
                                ___________
 
 Introduced  by M. of A. HAWLEY, CROUCH -- Multi-Sponsored by -- M. of A.
   GIGLIO -- read once and referred to the Committee on Judiciary
 
 AN ACT to amend the real property law, in relation to requiring  utility
   corporations  to record the existence of certain memorandum of utility
   surcharge agreements

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  2 of section 242 of the real property law is
 amended by adding two new paragraphs (c) and (d) to read as follows:
   (C) A UTILITY CORPORATION SHALL BE REQUIRED TO RECORD A MEMORANDUM  OF
 ANY  UTILITY  SURCHARGE  AGREEMENT BETWEEN THE UTILITY CORPORATION AND A
 REAL PROPERTY OWNER, WITHIN FIVE DAYS OF  THE  DATE  SUCH  AGREEMENT  IS
 EXECUTED, WITH THE RECORDING OFFICER OF THE COUNTY THAT THE REAL PROPER-
 TY  IS LOCATED WITHIN. SUCH MEMORANDUM OF AGREEMENT SHALL CONTAIN AT THE
 MINIMUM THE INFORMATION REQUIRED TO BE DISCLOSED BY A SELLER TO A  BUYER
 PURSUANT  TO  PARAGRAPH  (A)  OF THIS SUBDIVISION. THE RECORDING OFFICER
 SHALL FILE AND RECORD A MEMORANDUM OF UTILITY  SURCHARGE  AGREEMENT  AND
 INDEX  SUCH  MEMORANDUM OF AGREEMENT UNDER THE NAME OF THE REAL PROPERTY
 OWNER, IN A BOOK TO BE KEPT FOR THAT PURPOSE BY THE RECORDING OFFICER.
   (D) FOR THE PURPOSES OF THIS SUBDIVISION, "UTILITY CORPORATION"  MEANS
 EVERY  CORPORATION,  LIMITED  LIABILITY  COMPANY,  COMPANY, ASSOCIATION,
 JOINT-STOCK ASSOCIATION, PARTNERSHIP AND PERSON,  THEIR  LESSEES,  TRUS-
 TEES,  OR RECEIVERS APPOINTED BY ANY COURT WHATSOEVER, WHICH ARE ENGAGED
 IN THE BUSINESS OF FURNISHING ELECTRIC OR GAS SERVICE.
   § 2. This act shall take effect on the one hundred twentieth day after
 it shall have become a law. Effective immediately the  addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation of this act on its effective date are authorized to be made on or
 before such date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02102-01-9

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