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NY A00372
Bill
Status
Introduced
1/5/2017
Primary Sponsor
Diane Richardson
Click for details
AI Summary
- Amends the Banking Law to allow execution of mortgage loan promissory notes and mortgages by electronic signature
- Specifies that electronic signatures must comply with applicable federal and state laws, rules, and regulations
- Applies to the definition of "consummation of a mortgage loan" under the Truth in Lending Act and Real Estate Settlement Procedures Act of 1974
- Takes effect on the same date as the 2016 law (S.7183/A.9746) that originally defined consummation of a mortgage loan
Legislative Description
Relates to defining consummation of a mortgage loan.
Last Action
substituted by s982
3/1/2017
Committee Referrals
Banks1/5/2017
Full Bill Text
No bill text available