What's happening
This bill requires real estate brokers and salespersons in New York to legibly write their name and license number on signed transaction documents.
Why it matters
Increases accountability and traceability. Requiring brokers and salespersons to write their name and license number on signed documents makes it easier to identify who was involved in a transaction, helping resolve disputes or investigate misconduct.
Enhances consumer protection. Clients and regulators will have a clear record of which licensed individual handled their transaction, reducing the risk of fraud or impersonation by unlicensed actors.
Facilitates regulatory oversight. This change gives the Secretary of State explicit authority to enforce these rules, potentially streamlining compliance checks and disciplinary actions for violations.
May impact business practices. Real estate professionals will have to adjust their workflow to ensure every relevant document is properly filled out, possibly increasing administrative diligence but also standardizing documentation statewide.
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Who cares
Headline styles
Require Broker Name, License
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
History
- Referred to judiciary
- Referred to judiciary
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
2715
2017-2018 Regular Sessions
IN ASSEMBLY
January 23, 2017
Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Judiciary
AN ACT to amend the real property law, in relation to requiring the secretary of state to promulgate rules or regulations requiring real estate salespersons and brokers to legibly write their name and license number on certain documents
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 1 of section 442-k of the real property law, as added by chapter 248 of the laws of 1995, is amended to read as follows:
1. (a) The state real estate board shall have the power to promulgate rules or regulations affecting brokers and sales persons in order to administer and effectuate the purposes of this article, except that matters pertaining to commingling money of a principal, rendering accounts for a client, managing property for a client, broker's purchase of property listed with him or her, inducing breach of contract of sale or lease, and records of transactions to be maintained are reserved for the exclusive regulatory authority of the secretary of state.
(b) The secretary of state, and not the state real estate board shall promulgate rules and regulations to administer or implement the provisions of sections four hundred forty-one and four hundred fortytwo-h of this article.
[In addition, the] (c) The secretary of state shall have exclusive regulatory authority to promulgate rules regarding the duties and responsibilities of real estate brokers and salespersons with regard to the handling of clients' funds.
(d) The secretary of state shall promulgate rules or regulations requiring that in every real estate transaction, any document which requires the signature of a real estate salesperson and/or real estate broker shall also require such salesperson or broker to legibly write his or her name and license number on the document along with the signature.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08451-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.