Bill Text: NY A01670 | 2019-2020 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Republican 6-0)

Status: (Introduced - Dead) 2020-07-14 - held for consideration in judiciary [A01670 Detail]

Download: New_York-2019-A01670-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1670
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    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:
     1    Section  1.  Subdivision  2 of section 242 of the real property law is
     2  amended by adding two new paragraphs (c) and (d) to read as follows:
     3    (c) A utility corporation shall be required to record a memorandum  of
     4  any  utility  surcharge  agreement between the utility corporation and a
     5  real property owner, within five days of  the  date  such  agreement  is
     6  executed, with the recording officer of the county that the real proper-
     7  ty  is located within. Such memorandum of agreement shall contain at the
     8  minimum the information required to be disclosed by a seller to a  buyer
     9  pursuant  to  paragraph  (a)  of this subdivision. The recording officer
    10  shall file and record a memorandum of utility  surcharge  agreement  and
    11  index  such  memorandum of agreement under the name of the real property
    12  owner, in a book to be kept for that purpose by the recording officer.
    13    (d) For the purposes of this subdivision, "utility corporation"  means
    14  every  corporation,  limited  liability  company,  company, association,
    15  joint-stock association, partnership and person,  their  lessees,  trus-
    16  tees,  or receivers appointed by any court whatsoever, which are engaged
    17  in the business of furnishing electric or gas service.
    18    § 2. This act shall take effect on the one hundred twentieth day after
    19  it shall have become a law. Effective immediately the  addition,  amend-
    20  ment and/or repeal of any rule or regulation necessary for the implemen-
    21  tation of this act on its effective date are authorized to be made on or
    22  before such date.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02102-01-9