Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Mar 18, 2022 | signed chap.153 delivered to governor |
Mar 15, 2022 | returned to senate passed assembly ordered to third reading cal.483 substituted for a9175 |
Jan 20, 2022 | referred to judiciary delivered to assembly passed senate |
Jan 10, 2022 | ordered to third reading cal.57 |
Jan 07, 2022 | referred to rules |
senate Bill S7729
Signed By GovernorSponsored By
James Skoufis
(D) 42nd Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
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S7729 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9175
- Law Section:
- Real Property Law
- Laws Affected:
- Amd §442-h, RP L; amd §3, Chap of 2021 (as proposed in S.2131-A & A.6186)
S7729 (ACTIVE) - Sponsor Memo
BILL NUMBER: S7729 SPONSOR: SKOUFIS TITLE OF BILL: An act to amend the real property law, in relation to requiring real estate brokers to institute standardized operating procedures for the prerequisites prospective homebuyers shall meet prior to receiving any services; and to amend a chapter of the laws of 2021 amending the real property law relating to requiring the secretary of state to promulgate regulations requiring real estate brokers to institute standardized operating procedures for the prerequisites prospective homebuyers shall meet prior to receiving any services, as proposed in legislative bills numbers S. 2131-A and A. 6186, in relation to the effectiveness thereof PURPOSE: This is a chapter amendment to L.2021, c.696, to modify the role of the secretary of state in regulating real estate broker standard operating procedures for prospective homebuyers. SUMMARY OF PROVISIONS:
S7729 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7729 I N S E N A T E January 7, 2022 ___________ Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the real property law, in relation to requiring real estate brokers to institute standardized operating procedures for the prerequisites prospective homebuyers shall meet prior to receiving any services; and to amend a chapter of the laws of 2021 amending the real property law relating to requiring the secretary of state to promul- gate regulations requiring real estate brokers to institute standard- ized operating procedures for the prerequisites prospective homebuyers shall meet prior to receiving any services, as proposed in legislative bills numbers S. 2131-A and A. 6186, in relation to the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 4 of section 442-h of the real property law, as added by a chapter of the laws of 2021 amending the real property law relating to requiring the secretary of state to promulgate regulations requiring real estate brokers to institute standardized operating proce- dures for the prerequisites prospective homebuyers shall meet prior to receiving any services, as proposed in legislative bills numbers S. 2131-A and A. 6186, is amended to read as follows: 4. (a) [The secretary of state, upon notice and a public hearing,] EACH REAL ESTATE BROKER shall [promulgate rules and regulations requir- ing real estate brokers to] institute standardized operating procedures for the prerequisites prospective homebuyers must meet prior to receiv- ing any services. Such [rules and regulations] STANDARDIZED OPERATING PROCEDURES shall include but not be limited to the following: (i) whether prospective clients shall show identification; (ii) whether an exclusive broker agreement is required; [and] (iii) whether pre-approval for a mortgage loan is required; AND (IV) ANY OTHER SUCH STANDARDIZED OPERATING PROCEDURES AS THE SECRETARY OF STATE SHALL DETERMINE BY REGULATION AND UPON NOTICE AND PUBLIC HEAR- ING. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06380-04-2
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