New York State Assembly

Bill No.:  

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

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A03874 Summary:

BILL NO	A03874
SAME AS	No Same As
SPONSOR	Dinowitz
COSPNSR
MLTSPNSR
Add R3411, CPLR
Requires a mandatory settlement conference in cooperative apartment unit foreclosure actions; makes related provisions.

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A03874 Actions:

BILL NO	A03874
01/30/2025	referred to judiciary
01/07/2026	referred to judiciary

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A03874 Committee Votes:

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A03874 Floor Votes:

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A03874 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)



 
BILL NUMBER: A3874
 
SPONSOR: Dinowitz

 
TITLE OF BILL:
 
An act to amend the civil practice law and rules, in relation to manda-
tory settlement conference in cooperative apartment unit foreclosure
actions
 
 
PURPOSE OF BILL:
 
The purpose of this bill is to require settlement conference protections
for cooperative apartment unit foreclosure actions brought under the
uniform commercial code
 
 
SUMMARY OF SPECIFIC PROVISIONS:
 
Section one of the bill adds rule 3411 to the civil practice law and
rules to require a foreclosing entity to file a petition in supreme
court in which the cooperative is located and serve the petition on the
borrower. The lender shall file proof of service with the court and the
court shall then hold a settlement conference within 60 days.
 
Section two of the bill is the effective date
 
 
JUSTIFICATION:
 
Since 2008, New York has provided settlement conferences for homeowners
facing foreclosure of their residence. Cooperative apartments were not
included in these protections and may be foreclosed on outside of court
through the uniform commercial code.  This legislation provides the same
protections for cooperative homeowners that already exist in the law for
single family homeowners.
 
 
PRIOR LEGISLATIVE HISTORY:
 
2023-24: A.3453 - Judiciary
 
2021-22: A.6143 - Judiciary
 
 
FISCAL IMPLICATIONS:
 
None.
 
 
EFFECTIVE DATE:
This act shall take effect immediately.

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