§ 954 — Mailing or delivery of bills to mortgage investing institutions

§ 954. Mailing or delivery of bills to mortgage investing\ninstitutions. 1. A mortgagor who has entered into a real property tax\nescrow account may designate, on a form prescribed or approved by the\ncommissioner, a mortgage investing institution, and its successors,\nagents or assigns to receive tax bills. Each such form shall be held by\nthe mortgage investing institution, or any successor to which the\naccount may be transferred, until the real property tax escrow account\nis terminated, at which time such designation shall be null and void. A\nmortgage investing institution in possession of such a form shall make\nit available for inspection by the mortgagor or collecting officer upon\nrequest. For any mortgage note executed prior to the first day of June,\nnineteen hundred ninety, the mortgage investing institution shall, upon\nthe request of the collecting officer, provide any document that\nevidences its authorization to receive tax bills or obligation to pay\ntaxes.\n 2. Notwithstanding the provisions of section nine hundred twenty-two,\nthirteen hundred twenty-two, thirteen hundred twenty-four or fourteen\nhundred thirty of this chapter, upon agreement between a collecting\nofficer and a mortgage investing institution, the mortgage investing\ninstitution or its agent shall, no later than thirty days prior to the\nlast date established by law for the annexation of the warrant to the\nassessment roll, present to the collecting officer a list in any\nmutually agreeable format of the real property tax escrow accounts with\nrespect to which the mortgage investing institution or its agent has\nbeen authorized by the mortgagor to receive tax bills. If the collecting\nofficer and mortgage investing institution agree, a list of additions\nand deletions to the last such list so delivered may be presented\ninstead.\n 3. Upon receipt of such a list, the collecting officer shall take the\nnecessary actions to provide that the appropriate bills for the upcoming\nlevy will be mailed or delivered to the mortgage investing institution\nor its agent. Such bills may be transmitted in any mutually agreeable\nformat, and need not include any information which the mortgage\ninvesting institution or its agent deems extraneous for its purposes.\nThe collecting officer may, in addition thereto or in lieu thereof,\ncause the appropriate tax billing addresses on the tax roll and the data\nfile, as such term is defined in section fifteen hundred eighty-one of\nthis chapter, to be changed to conform to such list.\n 4. Where a collecting officer receives such a list later than thirty\ndays prior to the last date prescribed by law for the annexation of the\nwarrant to the assessment roll, the collecting officer may accept the\nsame as if it were submitted in a timely manner.\n