S T A T E O F N E W Y O R K ________________________________________________________________________ 2901 2015-2016 Regular Sessions I N S E N A T E January 30, 2015 ___________ Introduced by Sen. FARLEY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to violations by unlicensed transmitters of money THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Subdivision 2 of section 650 of the banking law, as 2 amended by chapter 543 of the laws of 1990, is amended to read as 3 follows: 4 2. a. Any person who either (1) engages in the business of receiving 5 money for transmission or transmitting the same or (2) sells or issues 6 New York instruments or New York traveler's checks as those terms are 7 defined by section six hundred fifty-three of this chapter, without a 8 license therefor obtained from the superintendent as provided in this 9 article, shall be guilty of a [Class] CLASS A misdemeanor. 10 b. Any person who violates paragraph a of this subdivision and in the 11 course of that violation: 12 (1) knowingly receives or agrees to receive for transmission from one 13 or more individuals a total of ten thousand dollars or more in a single 14 transaction, a total of twenty-five thousand dollars or more during a 15 period of thirty days or less, or a total of two hundred fifty thousand 16 dollars or more during a period of one year or less; or 17 (2) knowingly sells or issues New York instruments or New York travel- 18 er's checks to one or more individuals totaling ten thousand dollars or 19 more in a single transaction, a total of twenty-five thousand dollars or 20 more during a period of thirty days or less, or a total of two hundred 21 fifty thousand dollars or more during a period of one year or less SHALL 22 BE GUILTY OF A CLASS E FELONY.[; or 23 (3)] C. ANY PERSON WHO VIOLATES THE PROVISIONS OF PARAGRAPH A OF THIS 24 SUBDIVISION AND IN THE COURSE OF SUCH VIOLATION: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07710-02-5 S. 2901 2 1 (1) knowingly engages in the business of receiving money for transmit- 2 ting or transmitting the same, knowing such money to be the proceeds of 3 any criminal conduct; or 4 [(4)] (2) knowingly sells or issues New York instruments or New York 5 traveler's checks as those terms are defined by section six hundred 6 fifty-three of this chapter, knowing such instruments or checks to be 7 purchased with the proceeds of or derived from any criminal conduct; 8 shall be guilty of a class [E] D felony. 9 S 2. This act shall take effect on the sixtieth day after it shall 10 have become a law.