Provides for the appointment of foreclosure receivers and managing agents in N.Y. city

This bill (S 3823) creates a pre-approved list system for appointing receivers and managing agents in New York City foreclosure cases involving residential properties. It requires the city’s housing agency to submit a list of qualified professionals to the court, after which judges can only appoint individuals from that list. The law applies specifically to New York City (population over 1 million) and removes the notice requirement for motions seeking receiver appointments under certain mortgages. This changes how courts select managers for properties during foreclosure proceedings, ensuring only pre-vetted individuals handle these cases. The bill takes effect immediately upon enactment.