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Assembly Bill A11199

2009-2010 Legislative Session

Relates to certain fees charged to cash checks, drafts and/or money orders

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2009-A11199 - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §374, Bank L

2009-A11199 - Summary

Relates to certain fees charged to cash checks, drafts and/or money orders and the authority of the superintendent.

2009-A11199 - Bill Text download pdf 

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

                                  11199

                          I N  A S S E M B L Y

                              May 25, 2010
                               ___________

Introduced  by  M. of A. KOON -- read once and referred to the Committee
  on Banks

AN ACT to amend the banking law, in relation to certain fees charged and
  the authority of the superintendent

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

  Section 1. Subdivision 1 of section 374 of the banking law, as amended
by chapter 582 of the laws of 2000, is amended to read as follows:
  1.  (A)  The  provisions  of this article shall not apply when checks,
drafts or money orders are cashed, other than by a licensee,  without  a
consideration  or  charge;  nor  when checks, drafts or money orders are
cashed, other than by a licensee, as an incident to the conduct  of  any
other  lawful  business  [where  not more than one dollar is charged for
cashing each check, draft or money order]; nor shall the  provisions  of
this article apply to any national bank, federal reserve bank, or to any
person,  partnership,  association,  corporation  or  other organization
doing business under or pursuant to  the  provisions  of  this  chapter,
except  a  licensee  under this article.  THE SUPERINTENDENT SHALL, UPON
CONSULTATION WITH THE BANKING BOARD, ESTABLISH THE MAXIMUM FEES THAT MAY
BE CHARGED UNDER THIS SECTION PROVIDED,  HOWEVER  THAT  NO  FEE  MAY  BE
CHARGED  UNDER THIS SECTION IN A CITY WITH ONE MILLION OR MORE, AND SUCH
FEE SHALL NOT EXCEED FEES ESTABLISHED UNDER SECTION THREE HUNDRED SEVEN-
TY-TWO OF THIS ARTICLE.
  (B) THE SCHEDULE OF FEES CHARGED UNDER THIS SECTION SHALL  BE  CLEARLY
AND CONSPICUOUSLY POSTED IN EVERY LOCATION CHARGING SUCH FEE.
  (C)  THE SUPERINTENDENT SHALL HAVE THE AUTHORITY TO ADOPT, PROMULGATE,
AMEND AND REPEAL SUCH RULES OR REGULATIONS AS MAY BE NECESSARY TO  CARRY
OUT THE PROVISIONS OF THIS SECTION.
  S 2. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD17452-02-0

multi-Sponsors

2009-A11199A (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §374, Bank L

2009-A11199A (ACTIVE) - Summary

Relates to certain fees charged to cash checks, drafts and/or money orders and the authority of the superintendent.

2009-A11199A (ACTIVE) - Bill Text download pdf 

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

                                11199--A

                          I N  A S S E M B L Y

                              May 25, 2010
                               ___________

Introduced  by  M. of A. KOON -- read once and referred to the Committee
  on Banks -- committee discharged, bill amended, ordered  reprinted  as
  amended and recommitted to said committee

AN  ACT to amend the banking law, in relation to certain fees charged to
  cash checks, drafts and/or money orders

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

  Section 1. Subdivision 1 of section 374 of the banking law, as amended
by chapter 582 of the laws of 2000, is amended to read as follows:
  1.  (A)  The  provisions  of this article shall not apply when checks,
drafts or money orders are cashed, other than by a licensee,  without  a
consideration  or  charge;  nor  when checks, drafts or money orders are
cashed, other than by a licensee, as an incident to the conduct  of  any
other  lawful  business where not more than one dollar FOR CHECKS OF TWO
HUNDRED DOLLARS OR LESS AND THREE DOLLARS FOR CHECKS ABOVE  TWO  HUNDRED
DOLLARS  is  charged  for  cashing each check, draft or money order; nor
shall the provisions of this article apply to any national bank, federal
reserve bank, or to any person, partnership, association, corporation or
other organization doing business under or pursuant to the provisions of
this chapter, except a licensee under this article,  PROVIDED;  HOWEVER,
THAT  NO  FEE MAY BE CHARGED UNDER THIS SECTION IN A CITY OF ONE MILLION
OR MORE.
  (B) THE SCHEDULE OF FEES CHARGED UNDER THIS SECTION SHALL  BE  CLEARLY
AND CONSPICUOUSLY POSTED IN EVERY LOCATION CHARGING SUCH FEE.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD17452-03-0

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