Assembly Bill A5938

2023-2024 Legislative Session

Relates to prosecution by the department of financial services and municipalities of certain violations regarding residential real property

download bill text pdf

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Current 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

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2023-A5938 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Real Property Actions and Proceedings Law
Laws Affected:
Add §1360, RPAP L

2023-A5938 (ACTIVE) - Summary

Relates to prosecution by the department of financial services (DFS) and municipalities of certain violations regarding residential real property by mortgage lenders and similar entities; directs DFS to promulgate standards of review of whether to prosecute such violations; requires deference to municipalities where both the municipality and DFS are authorized to prosecute such a violation; directs payments of civil penalties issued pursuant to such violations to be paid to DFS if DFS is the prosecuting entity.

2023-A5938 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5938
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 24, 2023
                                ___________
 
 Introduced  by  M. of A. FAHY -- read once and referred to the Committee
   on Judiciary
 
 AN ACT to amend the  real  property  actions  and  proceedings  law,  in
   relation  to  prosecution  by the department of financial services and
   municipalities of certain violations regarding residential real  prop-
   erties

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The real property actions and proceedings law is amended by
 adding a new section 1360 to read as follows:
   §  1360.  SUPERINTENDENT  OF  FINANCIAL   SERVICES;   PROSECUTION   OF
 VIOLATIONS.    1. THE SUPERINTENDENT OF FINANCIAL SERVICES SHALL PROMUL-
 GATE, BY REGULATION, STANDARDS  OF  REVIEW  FOR  DETERMINATIONS  BY  THE
 DEPARTMENT  OF  FINANCIAL  SERVICES  OF  WHETHER TO PROSECUTE VIOLATIONS
 REGARDING RESIDENTIAL REAL PROPERTY, AS AUTHORIZED UNDER THIS ARTICLE.
   2. WHERE THE DEPARTMENT OF FINANCIAL SERVICES AND A  MUNICIPALITY  ARE
 BOTH  AUTHORIZED  TO  PROSECUTE  A  VIOLATION REGARDING RESIDENTIAL REAL
 PROPERTY UNDER THIS ARTICLE, THE DEPARTMENT OF FINANCIAL SERVICES  SHALL
 NOT  SEEK  TO  PROSECUTE  SUCH VIOLATION UNLESS IT RECEIVES CONFIRMATION
 FROM SUCH MUNICIPALITY THAT SUCH MUNICIPALITY DOES NOT INTEND TO  PROSE-
 CUTE SUCH VIOLATION ITSELF.
   3.  WHERE A HEARING OFFICER OR COURT OF COMPETENT JURISDICTION DECIDES
 IN FAVOR OF THE DEPARTMENT OF FINANCIAL SERVICES IN A PROCEEDING  ALLEG-
 ING  A VIOLATION REGARDING RESIDENTIAL REAL PROPERTY UNDER THIS ARTICLE,
 THE PROCEEDS OF ANY CIVIL PENALTY ISSUED PURSUANT TO SUCH DECISION SHALL
 BE PAYABLE TO THE DEPARTMENT OF FINANCIAL SERVICES FOR THE  PURPOSES  OF
 PROSECUTING FUTURE VIOLATIONS UNDER THIS ARTICLE.
   4.  FOR THE PURPOSES OF THIS SECTION, THE TERM "RESIDENTIAL REAL PROP-
 ERTY" SHALL MEAN REAL PROPERTY LOCATED IN THIS  STATE  IMPROVED  BY  ANY
 BUILDING  OR  STRUCTURE  THAT IS OR MAY BE USED, IN WHOLE OR IN PART, AS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10032-01-3
 A. 5938                             2

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