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NY S08233
Bill
Status
Introduced
12/23/2016
Primary Sponsor
Diane Savino
Click for details
AI Summary
- Amends the Banking Law's definition of "consummation of a mortgage loan" to explicitly permit execution of the promissory note and mortgage by electronic signature
- Requires electronic signatures to comply with applicable federal and state laws, rules, and regulations
- Applies to transactions governed by the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974
- Takes effect on the same date as the related 2016 law amendments (legislative bills S.7183 and A.9746)
Legislative Description
Relates to defining consummation of a mortgage loan.
Last Action
REFERRED TO RULES
12/23/2016
Committee Referrals
Rules12/23/2016
Full Bill Text
No bill text available