Bill Text: NY S06988 | 2011-2012 | General Assembly | Amended

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Bill Title: Relates to the expiration of real estate licenses and service of a real estate salesman with a broker.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Passed) 2012-08-01 - SIGNED CHAP.345 [S06988 Detail]

Download: New_York-2011-S06988-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        6988--A
                                   I N  S E N A T E
                                    April 19, 2012
                                      ___________
       Introduced  by  Sens.  O'MARA, LIBOUS -- read twice and ordered printed,
         and when printed to be committed to  the  Committee  on  Judiciary  --
         committee  discharged,  bill amended, ordered reprinted as amended and
         recommitted to said committee
       AN ACT to amend the real  property  law,  in  relation  to  real  estate
         license terms and service with a real estate broker
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Subdivisions 2 and 11 of section 441-a of the real property
    2  law, subdivision 2 as amended by chapter 324 of the  laws  of  1998  and
    3  subdivision  11  as added by chapter 61 of the laws of 1989, are amended
    4  to read as follows:
    5    2. Terms. A license issued or reissued under the  provisions  of  this
    6  article  shall  entitle  the  person,  co-partnership, limited liability
    7  company or corporation to act as a real estate broker, or, if the appli-
    8  cation is for a real estate salesman's license, to act as a real  estate
    9  salesman  in  this  state  up  to and including the [thirty-first day of
   10  October of the year] DATE in which the license by its terms expires.
   11    11. If a real estate salesperson shall leave the  service  of  a  real
   12  estate  broker, the real estate broker shall file a termination of asso-
   13  ciation notice on such form as secretary may  designate.  [The  fee  for
   14  terminating  the  record  of  association  shall  be  ten  dollars.] The
   15  salesperson's license may be endorsed to a new  sponsoring  broker  upon
   16  the  establishment of a new record of association filed with the depart-
   17  ment of state. The fee for filing a record of association shall be [ten]
   18  TWENTY dollars.
   19    S 2. This act shall take effect January 1, 2013.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD15154-03-2