Section 954. Mailing or delivery of bills to mortgage investing institutions

1. A mortgagor who has entered into a  real  property  tax
  escrow  account  may  designate, on a form prescribed or approved by the
  state board, a  mortgage  investing  institution,  and  its  successors,
  agents  or assigns to receive tax bills. Each such form shall be held by
  the mortgage investing  institution,  or  any  successor  to  which  the
  account  may  be transferred, until the real property tax escrow account
  is terminated, at which time such designation shall be null and void.  A
  mortgage  investing  institution in possession of such a form shall make
  it available for inspection by the mortgagor or collecting officer  upon
  request.  For any mortgage note executed prior to the first day of June,
  nineteen hundred ninety, the mortgage investing institution shall,  upon
  the  request  of  the  collecting  officer,  provide  any  document that
  evidences its authorization to receive tax bills or  obligation  to  pay
  taxes.
    2.  Notwithstanding the provisions of section nine hundred twenty-two,
  thirteen hundred twenty-two, thirteen hundred  twenty-four  or  fourteen
  hundred  thirty  of  this  chapter,  upon agreement between a collecting
  officer and a mortgage investing  institution,  the  mortgage  investing
  institution  or  its agent shall, no later than thirty days prior to the
  last date established by law for the annexation of the  warrant  to  the
  assessment  roll,  present  to  the  collecting  officer  a  list in any
  mutually agreeable format of the real property tax escrow accounts  with
  respect  to  which  the  mortgage investing institution or its agent has
  been authorized by the mortgagor to receive tax bills. If the collecting
  officer and mortgage investing institution agree, a  list  of  additions
  and  deletions  to  the  last  such  list  so delivered may be presented
  instead.
    3.  Upon receipt of such a list, the collecting officer shall take the
  necessary actions to provide that the appropriate bills for the upcoming
  levy will be mailed or delivered to the mortgage  investing  institution
  or  its agent.   Such bills may be transmitted in any mutually agreeable
  format,  and  need  not  include  any  information  which  the  mortgage
  investing  institution  or  its agent deems extraneous for its purposes.
  The collecting officer may, in addition  thereto  or  in  lieu  thereof,
  cause the appropriate tax billing addresses on the tax roll and the data
  file,  as  such term is defined in section fifteen hundred eighty-one of
  this chapter, to be changed to conform to such list.
    4. Where a collecting officer receives such a list later  than  thirty
  days  prior to the last date prescribed by law for the annexation of the
  warrant to the assessment roll, the collecting officer  may  accept  the
  same as if it were submitted in a timely manner.