Bill Text: NY S06242 | 2015-2016 | General Assembly | Introduced

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Bill Title: Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2016-06-08 - REPORTED AND COMMITTED TO RULES [S06242 Detail]

Download: New_York-2015-S06242-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6242
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 6, 2016
                                      ___________
       Introduced  by Sen. HAMILTON -- 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 the number of withdrawal
         transactions from a basic banking account
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (c) of subdivision 2 of section 14-f of the bank-
    2  ing  law, as added by chapter 1 of the laws of 1994 and such subdivision
    3  as further amended by section 104 of part A of chapter 62 of the laws of
    4  2011, is amended to read as follows:
    5    (c) eight withdrawal transactions FOR ACCOUNT HOLDERS UNDER SIXTY-FIVE
    6  YEARS OF AGE, AND TWELVE WITHDRAWAL  TRANSACTIONS  FOR  ACCOUNT  HOLDERS
    7  SIXTY-FIVE YEARS OF AGE OR OLDER, including those conducted at electron-
    8  ic  facilities, during any periodic cycle at no additional charge to the
    9  account holder; and
   10    S 2. This act shall take effect on the sixtieth  day  after  it  shall
   11  have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD08625-01-5