New York A 5164: Relates to grand jury proceedings

Bill Text

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A05164 Summary:

BILL NOA05164 

&nbsp

SAME ASSAME AS S05471

&nbsp

SPONSORSolages

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §442-c, RP L

&nbsp

Codifies the duty of real estate brokers to supervise salespersons and associate brokers through regular, frequent and consistent personal guidance, instruction and oversight; lists elements of supervision including the ability to familiarize salespersons with state and federal laws against discrimination.

Go to top A05164 Actions:

BILL NOA05164 

&nbsp

02/12/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA05164 Committee&nbspVotes:

Go to topA05164 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA05164 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5164

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 12, 2025
 ___________

 Introduced by M. of A. SOLAGES -- read once and referred to the Commit-
 tee on Judiciary

 AN ACT to amend the real property law, in relation to the duty of a
 licensed real estate broker to supervise real estate salespersons

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 442-c of the real property law, as amended by chap-
 2 ter 529 of the laws of 2022, is amended to read as follows:
 3 § 442-c. Violations by salespersons; duty to supervise; broker's
 4 responsibility. 1. A licensed real estate broker shall have a duty to
 5 exercise reasonable and adequate supervision over real estate salesper-
 6 sons and associate real estate brokers through regular, frequent and
 7 consistent personal guidance, instruction and oversight. Reasonable and
 8 adequate supervision shall also be determined by: the availability of
 9 the supervising broker to all salespersons and associate brokers under
 10 the supervision of the broker to review and approve all documents; the
 11 distance between the supervising broker's main location and all branch
 12 offices with salespersons and associate brokers the supervising broker
 13 oversees; and the ability of the broker to familiarize salespersons and
 14 associate brokers with the requirements of federal and state law govern-
 15 ing real estate transactions, including, without limitation, prohibi-
 16 tions against discrimination.
 17 2. No violation of a provision of this article by a real estate sales-
 18 person or employee of a real estate broker shall be deemed to be cause
 19 for the revocation or suspension of the license of the broker, unless it
 20 shall appear that the broker had actual knowledge of such violation, or
 21 failed to exercise reasonable and adequate supervision over the real
 22 estate salesperson or associate broker or retains the benefits, profits
 23 or proceeds of a transaction wrongfully negotiated by their salesperson,
 24 associate broker or employee after notice of the salesperson's, associ-
 25 ate broker's or employee's misconduct. A broker shall be guilty of a
 26 misdemeanor for having any salesperson associated with their firm who
 27 has not secured the required license authorizing such employment.
 28 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09193-01-5

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