Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Dec 28, 2020 | recommitted to rules vote reconsidered - restored to third reading substitution reconsidered |
Jul 21, 2020 | 3rd reading cal.146 substituted for s4629a |
Jul 20, 2020 | referred to rules delivered to senate passed assembly |
Jan 08, 2020 | ordered to third reading cal.183 |
May 30, 2019 | advanced to third reading cal.508 reported |
Apr 22, 2019 | print number 4770a |
Apr 22, 2019 | amend and recommit to judiciary |
Feb 05, 2019 | referred to judiciary |
Archive: Last Bill Status - Passed Assembly
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Actions
Bill Amendments
Co-Sponsors
Phil Steck
A4770 - Details
- See Senate Version of this Bill:
- S4629
- Current Committee:
- Senate Rules
- Law Section:
- Real Property Law
- Laws Affected:
- Add §283, RP L
- Versions Introduced in 2021-2022 Legislative Session:
-
A4424, S4696
A4770 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4770 2019-2020 Regular Sessions I N A S S E M B L Y February 5, 2019 ___________ Introduced by M. of A. HUNTER -- read once and referred to the Committee on Judiciary AN ACT to amend the real property law, in relation to prohibiting mort- gagees from requiring mortgagors of certain real property to purchase flood insurance exceeding certain limits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property law is amended by adding a new section 283 to read as follows: § 283. LIMITS TO COMPULSORY FLOOD INSURANCE. NO MORTGAGEE SHALL REQUIRE A MORTGAGOR TO WHOM THE MORTGAGEE MAKES, INCREASES, EXTENDS, OR RENEWS ANY LOAN SECURED BY IMPROVED REAL PROPERTY TO PURCHASE OR PAY FOR FLOOD INSURANCE ON SUCH PROPERTY: (1) AT A COVERAGE AMOUNT THAT EXCEEDS THE OUTSTANDING MORTGAGE THEREON; (2) THAT INCLUDES COVERAGE FOR CONTENTS; OR (3) THAT INCLUDES A DEDUCTIBLE LESS THAN FIVE THOUSAND DOLLARS. IN EACH INSTANCE WHERE A MORTGAGEE REQUIRES A MORTGAGOR TO PURCHASE OR PAY FOR FLOOD INSURANCE ON SUCH PROPERTY, THE MORTGAGEE SHALL PROVIDE NOTICE TO THE MORTGAGOR OF THE NEED TO PURCHASE OR PAY FOR FLOOD INSURANCE THAT STATES THE FOLLOWING IN CLEAR AND CONSPICUOUS PRINT: 'PLEASE NOTE THAT THE FLOOD INSURANCE WE ARE REQUIRING YOU TO PURCHASE WILL ONLY PROTECT YOUR CREDITOR/LENDER'S INTEREST IN YOUR PROP- ERTY. IT MAY NOT BE SUFFICIENT TO PAY FOR MANY NEEDED REPAIRS AFTER A FLOOD AND MAY NOT COMPENSATE YOU FOR YOUR LOSSES IN THE PROPERTY DUE TO THE FLOOD. IF YOU WISH TO PROTECT YOUR HOME OR INVESTMENT, YOU MAY WISH TO PURCHASE MORE FLOOD INSURANCE THAN THE AMOUNT WE ARE REQUIRING YOU TO BUY.' § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06962-01-9
Co-Sponsors
Phil Steck
Carmen E. Arroyo
Dan Quart
Monica P. Wallace
A4770A (ACTIVE) - Details
- See Senate Version of this Bill:
- S4629
- Current Committee:
- Senate Rules
- Law Section:
- Real Property Law
- Laws Affected:
- Add §283, RP L
- Versions Introduced in 2021-2022 Legislative Session:
-
A4424, S4696
A4770A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4770--A 2019-2020 Regular Sessions I N A S S E M B L Y February 5, 2019 ___________ Introduced by M. of A. HUNTER, STECK -- read once and referred 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 prohibiting mort- gagees from requiring mortgagors of certain real property to purchase flood insurance exceeding certain limits THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property law is amended by adding a new section 283 to read as follows: § 283. LIMITS TO COMPULSORY FLOOD INSURANCE. NO MORTGAGEE SHALL REQUIRE A MORTGAGOR TO WHOM THE MORTGAGEE MAKES, INCREASES, EXTENDS, OR RENEWS ANY LOAN OR LINE OF CREDIT SECURED BY IMPROVED REAL PROPERTY TO PURCHASE OR PAY FOR FLOOD INSURANCE ON SUCH PROPERTY: (1) AT A COVERAGE AMOUNT THAT EXCEEDS THE OUTSTANDING MORTGAGE THEREON; OR (2) THAT INCLUDES COVERAGE FOR CONTENTS. IN EACH INSTANCE WHERE A MORTGAGEE REQUIRES A MORTGAGOR TO PURCHASE OR PAY FOR FLOOD INSURANCE ON SUCH PROPERTY, THE MORTGAGEE SHALL PROVIDE NOTICE TO THE MORTGAGOR OF THE NEED TO PURCHASE OR PAY FOR FLOOD INSURANCE THAT STATES THE FOLLOWING IN CLEAR AND CONSPICUOUS PRINT: 'PLEASE NOTE THAT THE FLOOD INSURANCE WE ARE REQUIRING YOU TO PURCHASE WILL ONLY PROTECT YOUR CREDITOR/LENDER'S INTEREST IN YOUR PROPERTY. IT MAY NOT BE SUFFICIENT TO PAY FOR MANY NEEDED REPAIRS AFTER A FLOOD AND MAY NOT COMPENSATE YOU FOR YOUR LOSSES IN THE PROPERTY DUE TO THE FLOOD. IF YOU WISH TO PROTECT YOUR HOME OR INVESTMENT, YOU MAY WISH TO PURCHASE MORE FLOOD INSURANCE THAN THE AMOUNT WE ARE REQUIRING YOU TO BUY.' § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06962-04-9