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Assembly Bill A6923

Signed By Governor

2009-2010 Legislative Session

Extends the effectiveness of certain provisions of sections 12-a and 42 of the banking law

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Archive: Last Bill Status - Signed by Governor

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Bill Amendments

2009-A6923 - Details

2009-A6923 - Summary

Extends the effectiveness of section 12-a of the banking law and makes corresponding technical corrections to extend the effectiveness of certain insurance law provisions.

2009-A6923 - Bill Text download pdf 

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

                                  6923

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 17, 2009
                               ___________

Introduced  by  M. of A. TOWNS -- (at request of the Banking Department)
  -- read once and referred to the Committee on Banks

AN ACT to amend chapter 322 of the laws of 2007,  amending  the  banking
  law  relating to the power of banks, private bankers, trust companies,
  savings banks,  savings  and  loan  associations,  credit  unions  and
  foreign banking corporations to exercise the rights of national banks,
  federal  savings  associations,  federal  credit  unions  and  federal
  branches and agencies of foreign banks, in relation to making  certain
  provisions  of  such  chapter permanent; and to amend chapter 3 of the
  laws of 1997, amending the banking law and the insurance law  relating
  to  authorizing  the banking board to permit banks and trust companies
  to exercise the rights  of  national  banks,  in  relation  to  making
  certain provisions of such chapter permanent

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

  Section 1. Section 6 of chapter 322 of the laws of 2007, amending  the
banking  law  relating  to  the  power  of banks, private bankers, trust
companies, savings banks, savings and loan associations,  credit  unions
and  foreign  banking  corporations  to  exercise the rights of national
banks, federal savings associations, federal credit unions  and  federal
branches and agencies of foreign banks, is amended to read as follows:
  S  6.  This  act shall take effect immediately; provided, however that
sections one, two, three and four of this act shall take effect  Septem-
ber  1,  2007[;  and  provided further that sections one, two, three and
four of this act shall expire and be deemed repealed September 10, 2009;
and provided further that any federally permitted powers approved  under
section  three  of this act shall remain in full force and effect on and
after such repeal date and shall not be affected by such repeal].
  S 2. Section 7 of chapter 3 of the laws of 1997, amending the  banking
law  and  the insurance law relating to authorizing the banking board to
permit banks and trust companies to  exercise  the  rights  of  national

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09492-03-9

2009-A6923A (ACTIVE) - Details

2009-A6923A (ACTIVE) - Summary

Extends the effectiveness of section 12-a of the banking law and makes corresponding technical corrections to extend the effectiveness of certain insurance law provisions.

2009-A6923A (ACTIVE) - Sponsor Memo

2009-A6923A (ACTIVE) - Bill Text download pdf 

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

                                 6923--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 17, 2009
                               ___________

Introduced  by  M. of A. TOWNS -- (at request of the Banking Department)
  -- 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 chapter 322 of the laws of 2007, amending the banking
  law relating to the power of banks, private bankers, trust  companies,
  savings  banks,  savings  and  loan  associations,  credit  unions and
  foreign banking corporations to exercise the rights of national banks,
  federal  savings  associations,  federal  credit  unions  and  federal
  branches  and  agencies of foreign banks, in relation to extending the
  effectiveness of certain provisions of  such  chapter;  and  to  amend
  chapter 3 of the laws of 1997, amending the banking law and the insur-
  ance law relating to authorizing the banking board to permit banks and
  trust  companies to exercise the rights of national banks, in relation
  to extending the effectiveness of certain provisions of such chapter

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

  Section  1. Section 6 of chapter 322 of the laws of 2007, amending the
banking law relating to the  power  of  banks,  private  bankers,  trust
companies,  savings  banks, savings and loan associations, credit unions
and foreign banking corporations to  exercise  the  rights  of  national
banks,  federal  savings associations, federal credit unions and federal
branches and agencies of foreign banks, is amended to read as follows:
  S 6. This act shall take effect immediately;  provided,  however  that
sections  one, two, three and four of this act shall take effect Septem-
ber 1, 2007; and provided further that sections one, two, three and four
of this act shall expire and be deemed  repealed  September  10,  [2009]
2011;  and provided further that any federally permitted powers approved
under section three of this act shall remain in full force and effect on
and after such repeal date and shall not be affected by such repeal.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09492-04-9

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