Bill Text: NY S00395 | 2019-2020 | General Assembly | Introduced


Bill Title: Defines a real estate team as two or more persons associated with the same real estate brokerage who hold themselves out or operate as a team.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2019-06-20 - COMMITTED TO RULES [S00395 Detail]

Download: New_York-2019-S00395-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                           395
                               2019-2020 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 9, 2019
                                       ___________
        Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government
        AN ACT to amend the real property law,  in  relation  to  defining  real
          estate team
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Section 440 of the real property law is amended by adding a
     2  new subdivision 7 to read as follows:
     3    7. "Team" means two or more persons, one of whom must be an  associate
     4  real  estate broker or real estate salesperson, associated with the same
     5  real estate brokerage who hold themselves out or operate as a team.
     6    § 2.  This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03485-01-9
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