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S06988 Summary:

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S06988 Floor Votes:

S06988 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6988--A
 
                    IN SENATE
 
                                     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    § 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