Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2020 |
referred to judiciary |
Feb 05, 2019 |
referred to judiciary |
Assembly Bill A4780
2019-2020 Legislative Session
Sponsored By
MOSLEY
Archive: Last Bill Status - In Assembly 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
Actions
2019-A4780 (ACTIVE) - Details
- Current Committee:
- Assembly Judiciary
- Law Section:
- General Obligations Law
- Laws Affected:
- Amd §7-103, Gen Ob L; amd §233, RP L
2019-A4780 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4780 2019-2020 Regular Sessions I N A S S E M B L Y February 5, 2019 ___________ Introduced by M. of A. MOSLEY -- read once and referred to the Committee on Judiciary AN ACT to amend the general obligations law and the real property law, in relation to limiting the amount of a security deposit on rental property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 7-103 of the general obligations law, as amended by chapter 1009 of the laws of 1970, is amended to read as follows 1.(A) Whenever money shall be deposited or advanced on a contract or license agreement for the use or rental of real property as security for performance of the contract or agreement or to be applied to payments upon such contract or agreement when due, such money, with interest accruing thereon, if any, until repaid or so applied, shall continue to be the money of the person making such deposit or advance and shall be held in trust by the person with whom such deposit or advance shall be made and shall not be mingled with the personal moneys or become an asset of the person receiving the same, but may be disposed of as provided in section 7-105 of this chapter. (B) NO PERSON SHALL REQUIRE A DEPOSIT OR ADVANCE, PURSUANT TO PARA- GRAPH (A) OF THIS SUBDIVISION, IN AN AMOUNT GREATER THAN THE EQUIVALENT OF ONE MONTH'S RENT. § 2. Subparagraph (a) of paragraph 4 of subdivision g of section 233 of the real property law, as amended by chapter 566 of the laws of 1996, is amended to read as follows: (a) (I) Whenever money shall be deposited or advanced on a contract or license agreement for the use or rental of premises and the manufactured home, if rented, in a manufactured home park as security for performance of the contract or agreement or to be applied to payments upon such contract or agreement when due, such money with interest accruing there- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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