Requires utility corporations to record memorandum of utility surcharge agreements with the recording officer of the county that the real property is located within.
STATE OF NEW YORK
________________________________________________________________________
1670
2019-2020 Regular Sessions
IN ASSEMBLY
January 16, 2019
___________
Introduced by M. of A. HAWLEY, CROUCH -- Multi-Sponsored by -- M. of A.
GIGLIO -- read once and referred to the Committee on Judiciary
AN ACT to amend the real property law, in relation to requiring utility
corporations to record the existence of certain memorandum of utility
surcharge agreements
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 2 of section 242 of the real property law is
2 amended by adding two new paragraphs (c) and (d) to read as follows:
3 (c) A utility corporation shall be required to record a memorandum of
4 any utility surcharge agreement between the utility corporation and a
5 real property owner, within five days of the date such agreement is
6 executed, with the recording officer of the county that the real proper-
7 ty is located within. Such memorandum of agreement shall contain at the
8 minimum the information required to be disclosed by a seller to a buyer
9 pursuant to paragraph (a) of this subdivision. The recording officer
10 shall file and record a memorandum of utility surcharge agreement and
11 index such memorandum of agreement under the name of the real property
12 owner, in a book to be kept for that purpose by the recording officer.
13 (d) For the purposes of this subdivision, "utility corporation" means
14 every corporation, limited liability company, company, association,
15 joint-stock association, partnership and person, their lessees, trus-
16 tees, or receivers appointed by any court whatsoever, which are engaged
17 in the business of furnishing electric or gas service.
18 § 2. This act shall take effect on the one hundred twentieth day after
19 it shall have become a law. Effective immediately the addition, amend-
20 ment and/or repeal of any rule or regulation necessary for the implemen-
21 tation of this act on its effective date are authorized to be made on or
22 before such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02102-01-9
