Senate Bill S1915

2009-2010 Legislative Session

Prohibits the mailing of credit card applications

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S1915 (ACTIVE) - Details

Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Amd §520, Gen Bus L; amd §108, Bank L; amd §413, Pers Prop L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4299
2013-2014: S1786

2009-S1915 (ACTIVE) - Summary

Prohibits the mailing of credit card applications; provides for a penalty of no more than one thousand dollars per occurrence; makes exemptions.

2009-S1915 (ACTIVE) - Sponsor Memo

2009-S1915 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1915

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 9, 2009
                               ___________

Introduced by Sens. MORAHAN, DIAZ -- read twice and ordered printed, and
  when printed to be committed to the Committee on Consumer Protection

AN  ACT  to  amend  the  general  business  law, the banking law and the
  personal property law, in relation to prohibiting unsolicited  mailing
  of credit card applications

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The opening paragraph and subdivision 9 of section  520  of
the  general business law, the opening paragraph as added by chapter 200
of the laws of 1987 and subdivision 9 as added by  chapter  485  of  the
laws  of  1996, are amended and three new subdivisions 10, 11 and 12 are
added to read as follows:
  Any application form [or preapproved written  solicitation]  to  enter
into a credit card agreement for personal, family, or household purposes
which  is  mailed  to  an  individual residing in this state on or after
January first, nineteen hundred eighty-eight, by or on behalf of [a]  AN
issuer,  whether  or not the issuer is located in this state, other than
an application form or solicitation included in a  magazine,  newspaper,
or  other publication distributed by someone other than the issuer, and,
any application primarily for a credit card to  be  used  for  personal,
family  or  household purposes which is distributed or made available in
this state to a resident of this state on or after January first,  nine-
teen  hundred eighty-eight in an office or other place of business owned
or operated by the issuer, shall contain the  following  disclosures  in
chart  form  and  shall put chart headings in bold face type of at least
ten point in size and material inside the chart of at least eight  point
type  in  size.  Such  chart shall use substantially the same format and
terminology shown below.  In completing the chart with  the  information
required  for each category, the guidelines hereinafter contained in the
corresponding subdivisions numbered one through four shall be utilized:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06991-01-9

              

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