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S05426 Summary:

BILL NOS05426
 
SAME ASSAME AS A07691
 
SPONSORSKOUFIS
 
COSPNSRADDABBO, HINCHEY, MURRAY
 
MLTSPNSR
 
Amd §441, RP L
 
Increases the period of supervision to five years for real estate brokers applying for a license.
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S05426 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5426
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    February 21, 2025
                                       ___________
 
        Introduced  by  Sens. SKOUFIS, HINCHEY, MURRAY -- read twice and ordered
          printed, and when printed to be committed to the Committee on  Judici-
          ary
 
        AN  ACT  to  amend  the real property law, in relation to increasing the
          period of supervision required for certain real estate license  appli-
          cations

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (b) of subdivision 1 of section 441 of  the  real
     2  property  law,  as separately amended by sections 6 and 7 of chapter 529
     3  of the laws of 2022, is amended to read as follows:
     4    (b) Such further information as the department may reasonably  require
     5  shall be furnished by the applicant including sufficient proof of having
     6  taken  and  passed  a written examination and answered such questions as
     7  may be prepared by the department to enable it to determine  the  trust-
     8  worthiness  of  the  applicant  if an individual, or of each member of a
     9  co-partnership or each member of a limited  liability  company  or  each
    10  officer  of  a  corporation for whom a license as a broker is asked, and
    11  their competency to transact the business of real estate broker in  such
    12  a  manner  as  to  safeguard the interests of the public. In determining
    13  competency, the department shall require proof  that  the  person  being
    14  tested  to  qualify to apply for a broker's license has a fair knowledge
    15  of the English language, a fair understanding of  the  general  purposes
    16  and  general  legal  effect of deeds, mortgages, land contracts of sale,
    17  and leases, a general and fair understanding of the obligations  between
    18  principal  and agent, has taken a class on cultural competency training,
    19  a general and fair understanding of  the  laws,  rules  and  regulations
    20  pertaining  to  fair housing and discrimination in the sale or rental of
    21  real property or an interest  in  real  property,  as  well  as  of  the
    22  provisions  of  this section. The applicant must also furnish proof that
    23  they have attended for at least one  hundred  fifty-two  hours  and  has
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09066-01-5

        S. 5426                             2
 
     1  successfully  completed  a real estate course or courses approved by the
     2  secretary of state as  to  method  and  content  and  supervision  which
     3  approval  may  be  withdrawn if in the opinion of the secretary of state
     4  said  course  or  courses are not being conducted properly as to method,
     5  content and supervision, and that  either  the  applicant  has  actively
     6  participated in the general real estate brokerage business as a licensed
     7  real  estate salesperson under the supervision of a licensed real estate
     8  broker for a period of not less than [two] five consecutive years or has
     9  had the equivalent experience in general  real  estate  business  for  a
    10  period  of at least three years, the nature of which experience shall be
    11  established by affidavit duly sworn  to  under  oath  and/or  other  and
    12  further  proof  required  by the department of state. Computer-based and
    13  distance-learning courses may be approved by the department so  long  as
    14  providers demonstrate the ability to monitor and verify participation by
    15  the applicant for the specified time period. Notwithstanding the forego-
    16  ing  authority  to approve computer-based and distance-learning courses,
    17  the department may prescribe that specified subjects or  hours  must  be
    18  presented in a classroom setting. For purposes of this section, cultural
    19  competency  is  defined as understanding cultural norms, preferences and
    20  challenges within our diverse communities.
    21    § 2. This act shall take effect on the one hundred eightieth day after
    22  it shall have become a law.
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