New York State Assembly

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S04954 Summary:

BILL NO	S04954
SAME AS	SAME AS A05376
SPONSOR	DIAZ
COSPNSR
MLTSPNSR
Add §254-e, RP L
Prohibits mortgagee from refusing to accept partial mortgage payments.

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S04954 Actions:

BILL NO	S04954
03/03/2017	REFERRED TO JUDICIARY

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S04954 Committee Votes:

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S04954 Floor Votes:

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S04954 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          4954
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                      March 3, 2017
                                       ___________
 
        Introduced  by  Sen.  DIAZ  --  read twice and ordered printed, and when
          printed to be committed to the Committee on Judiciary
 
        AN ACT to amend the real property law, in relation to prohibiting  mort-
          gagee from refusing to accept partial mortgage payments
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The real property law is amended by adding  a  new  section
     2  254-e to read as follows:
     3    §  254-e. Refusal by mortgagee to accept partial mortgage payments. 1.
     4  No mortgagee shall refuse to accept  a  partial  payment  of  an  entire
     5  amount  due  from a mortgagor which does not bring the mortgagor current
     6  on his or her mortgage debt.
     7    2. The provisions of this section shall not bar any other  contractual
     8  or statutory rights or remedies available to a mortgagor.
     9    §  2.  This  act shall take effect on the thirtieth day after it shall
    10  have become a law.
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02620-01-7

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