Bill Text: NY A03554 | 2019-2020 | General Assembly | Introduced

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Bill Title: Prohibits banks from holding for deposit the funds from checks issued by the state.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2020-01-08 - referred to banks [A03554 Detail]

Download: New_York-2019-A03554-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          3554
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 29, 2019
                                       ___________
        Introduced  by  M. of A. PRETLOW, COOK -- Multi-Sponsored by -- M. of A.
          GLICK, GOTTFRIED -- read once and referred to the Committee on Banks
        AN ACT to amend the banking law, in relation to  the  deposit  of  state
          issued checks
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The banking law is amended by adding a new section  9-e  to
     2  read as follows:
     3    §  9-e.  Deposit  of  state  issued checks. No banking institution, as
     4  defined in section nine-f of this article, shall hold  for  deposit  the
     5  funds from a check issued by the state.
     6    §  2.  This  act shall take effect on the thirtieth day after it shall
     7  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06552-01-9