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Assembly Bill A8378

Signed By Governor

2009-2010 Legislative Session

Grants an exemption to provisions prohibiting transfer of any retirement plan upon commencement of matrimonial action when benefits are being paid under such plan

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S5588 - Signed by Governor

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Bill Amendments

2009-A8378 - Details

See Senate Version of this Bill:
S5588
Law Section:
Domestic Relations Law
Laws Affected:
Amd §236, Dom Rel L

2009-A8378 - Summary

Grants an exemption to provisions prohibiting transfer of any retirement plan upon commencement of a matrimonial action when the retirement plan is already paying benefits.

2009-A8378 - Bill Text download pdf 

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

                                  8378

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              May 18, 2009
                               ___________

Introduced  by  M.  of  A.  WEINSTEIN  -- Multi-Sponsored by -- M. of A.
  CYMBROWITZ, DESTITO, GLICK,  JOHN,  McENENY,  NOLAN,  PAULIN,  REILLY,
  SEMINERIO, TITUS -- read once and referred to the Committee on Judici-
  ary

AN  ACT  to  amend the domestic relations law, in relation to the use of
  the proceeds of a retirement plan after the commencement of a matrimo-
  nial action

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

  Section 1. Subparagraph 2 of paragraph b of subdivision 2 of part B of
section  236 of the domestic relations law, as added by a chapter of the
laws of 2009, amending the domestic relations law relating to establish-
ing automatic orders in matrimonial actions, as proposed in  legislative
bills numbers S.2970 and A.2574, is amended to read as follows:
  (2)  Neither  party shall transfer, encumber, assign, remove, withdraw
or in any way dispose of any tax deferred funds, stocks or other  assets
held  in any individual retirement accounts, 401K accounts, profit shar-
ing plans, Keough accounts, or any other pension or retirement  account,
and  the  parties  shall further refrain from applying for or requesting
the payment of retirement benefits or  annuity  payments  of  any  kind,
without the consent of the other party in writing, or upon further order
of  the  court;  EXCEPT  THAT ANY PARTY WHO IS ALREADY IN PAY STATUS MAY
CONTINUE TO RECEIVE SUCH PAYMENTS THEREUNDER.
  S 2. This act shall take effect on the  same  date  and  in  the  same
manner as a chapter of the laws of 2009, amending the domestic relations
law relating to establishing automatic orders in matrimonial actions, as
proposed in legislative bills numbers S.2970 and A.2574, takes effect.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11900-02-9

2009-A8378A (ACTIVE) - Details

See Senate Version of this Bill:
S5588
Law Section:
Domestic Relations Law
Laws Affected:
Amd §236, Dom Rel L

2009-A8378A (ACTIVE) - Summary

Grants an exemption to provisions prohibiting transfer of any retirement plan upon commencement of a matrimonial action when the retirement plan is already paying benefits.

2009-A8378A (ACTIVE) - Sponsor Memo

2009-A8378A (ACTIVE) - Bill Text download pdf 

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

                                 8378--A
                                                        Cal. No. 580

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                              May 18, 2009
                               ___________

Introduced  by  M.  of  A.  WEINSTEIN  -- Multi-Sponsored by -- M. of A.
  CYMBROWITZ, DESTITO, GLICK,  JOHN,  McENENY,  NOLAN,  PAULIN,  REILLY,
  TITUS  --  read  once  and  referred  to the Committee on Judiciary --
  reported from committee, advanced to  a  third  reading,  amended  and
  ordered reprinted, retaining its place on the order of third reading

AN  ACT  to  amend the domestic relations law, in relation to the use of
  the proceeds of a retirement plan after the commencement of a matrimo-
  nial action

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

  Section 1. Subparagraph 2 of paragraph b of subdivision 2 of part B of
section 236 of the domestic relations law, as added by chapter 72 of the
laws of 2009, is amended to read as follows:
  (2)  Neither  party shall transfer, encumber, assign, remove, withdraw
or in any way dispose of any tax deferred funds, stocks or other  assets
held  in any individual retirement accounts, 401K accounts, profit shar-
ing plans, [Keough] KEOGH accounts, or any other pension  or  retirement
account,  and  the  parties  shall  further refrain from applying for or
requesting the payment of retirement benefits or annuity payments of any
kind, without the consent of the other party in writing, or upon further
order of the court; EXCEPT THAT ANY PARTY WHO IS ALREADY IN  PAY  STATUS
MAY CONTINUE TO RECEIVE SUCH PAYMENTS THEREUNDER.
  S  2.  This  act  shall take effect immediately and shall be deemed to
have been in full force and effect on and after September 1, 2009.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11900-03-0

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