Bill Text: NY A09998 | 2023-2024 | General Assembly | Introduced
Bill Title: Provides for the appointment of foreclosure receivers and managing agents in cities having a population of one million or more.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced) 2024-05-01 - referred to judiciary [A09998 Detail]
Download: New_York-2023-A09998-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9998 IN ASSEMBLY May 1, 2024 ___________ Introduced by M. of A. JACKSON -- read once and referred to the Commit- tee on Judiciary AN ACT to amend the real property actions and proceedings law, in relation to the appointment of receivers in actions to foreclose a mortgage The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 1325 of the real property actions 2 and proceedings law, as added by chapter 312 of the laws of 1962, is 3 amended to read as follows: 4 1. (a) Where the action is for the foreclosure of a mortgage providing 5 that a receiver may be appointed without notice, notice of a motion for 6 such appointment shall not be required. 7 (b) In a city with a population of one million or more, the agency 8 having jurisdiction for administering and enforcing the laws, rules and 9 regulations relating to the operation, repair or maintenance of residen- 10 tial real property may submit to the chief administrative judge of the 11 supreme court a list of persons such agency has determined to be quali- 12 fied to be appointed as a receiver or as a managing agent. Where such 13 agency submits such list to the chief administrative judge, the court 14 may only appoint a receiver whose name appears on such list, and such 15 receiver may only appoint a managing agent whose name appears on such 16 list. 17 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07029-01-3
