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Senate Bill S4291C

Signed By Governor

2009-2010 Legislative Session

Prohibits comptroller from establishing an account in a banking institution with a CRA rating of less than satisfactory

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Archive: Last Bill Status - Signed by Governor

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Bill Amendments

co-Sponsors

2009-S4291 - Details

See Assembly Version of this Bill:
A6312
Law Section:
State Finance Law
Laws Affected:
Amd §106, St Fin L

2009-S4291 - Summary

Prohibits comptroller from establishing an account in a banking institution with a "community reinvestment act of 1977" rating of less than satisfactory.

2009-S4291 - Sponsor Memo

2009-S4291 - Bill Text download pdf 

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

                                  4291

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation to funds of the state

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

  Section 1. Section 75 of the state finance law, as separately added by
chapters 405 and 957 of the laws of 1981, is amended to read as follows:
  S  75.  Establishment  of  accounts.  The comptroller is authorized to
establish whatever accounts  he  deems  necessary  in  conformance  with
generally  accepted  accounting  principles  for  the  discharge  of his
duties.  NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION, THE  COMP-
TROLLER SHALL NOT ESTABLISH AN ACCOUNT IN A BANKING INSTITUTION TO WHICH
THE  COMMUNITY  REINVESTMENT  ACT  OF  1977,  UNITED  STATES P.L. 95-128
APPLIES UNLESS SUCH INSTITUTION SHALL HAVE RECEIVED A RECORD OF PERFORM-
ANCE NO LOWER THAN  "SATISFACTORY"  AS  DETERMINED  UNDER  SUCH  ACT  IN
ACCORDANCE WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09913-01-9

co-Sponsors

2009-S4291A - Details

See Assembly Version of this Bill:
A6312
Law Section:
State Finance Law
Laws Affected:
Amd §106, St Fin L

2009-S4291A - Summary

Prohibits comptroller from establishing an account in a banking institution with a "community reinvestment act of 1977" rating of less than satisfactory.

2009-S4291A - Sponsor Memo

2009-S4291A - Bill Text download pdf 

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

                                 4291--A
    Cal. No. 518

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sens. PARKER, KRUEGER -- read twice and ordered printed,
  and when printed to be committed to the Committee on Finance -- recom-
  mitted to the Committee on Finance in accordance with Senate  Rule  6,
  sec. 8 -- reported favorably from said committee, ordered to first and
  second  report,  ordered  to  a  third  reading,  amended  and ordered
  reprinted, retaining its place in the order of third reading

AN ACT to amend the state finance law, in relation to funds of the state

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

  Section 1. Section 75 of the state finance law, as separately added by
chapters 405 and 957 of the laws of 1981, is amended to read as follows:
  S  75.  Establishment  of  accounts.  The comptroller is authorized to
establish whatever accounts  he  deems  necessary  in  conformance  with
generally  accepted  accounting  principles  for  the  discharge  of his
duties.  NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION, THE  COMP-
TROLLER SHALL NOT ESTABLISH AN ACCOUNT IN A BANKING INSTITUTION TO WHICH
THE  COMMUNITY  REINVESTMENT  ACT  OF  1977,  UNITED  STATES P.L. 95-128
APPLIES UNLESS SUCH INSTITUTION SHALL HAVE RECEIVED A RECORD OF PERFORM-
ANCE NO LOWER THAN  "SATISFACTORY"  AS  DETERMINED  UNDER  SUCH  ACT  IN
ACCORDANCE WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09913-03-0

co-Sponsors

2009-S4291B - Details

See Assembly Version of this Bill:
A6312
Law Section:
State Finance Law
Laws Affected:
Amd §106, St Fin L

2009-S4291B - Summary

Prohibits comptroller from establishing an account in a banking institution with a "community reinvestment act of 1977" rating of less than satisfactory.

2009-S4291B - Sponsor Memo

2009-S4291B - Bill Text download pdf 

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

                                 4291--B
    Cal. No. 518

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sens. PARKER, KRUEGER -- read twice and ordered printed,
  and when printed to be committed to the Committee on Finance -- recom-
  mitted to the Committee on Finance in accordance with Senate  Rule  6,
  sec. 8 -- reported favorably from said committee, ordered to first and
  second  report,  ordered  to  a  third  reading,  amended  and ordered
  reprinted, retaining its place in the order of third reading --  again
  amended  and  ordered  reprinted,  retaining its place in the order of
  third reading

AN ACT to amend the state finance law, in relation to funds of the state

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

  Section  1. Section 106 of the state finance law, is amended by adding
a new subdivision C to read as follows:
  C. NOTWITHSTANDING ANY OTHER PROVISIONS OF  THIS  SECTION,  THE  COMP-
TROLLER SHALL NOT DESIGNATE FOR THE DEPOSIT OF MONEYS BY STATE OFFICERS,
STATE  INSTITUTIONS AND CHARITABLE AND BENEVOLENT INSTITUTIONS A BANKING
INSTITUTION TO WHICH THE COMMUNITY  REINVESTMENT  ACT  OF  1977,  UNITED
STATES  P.L. 95-128, APPLIES UNLESS SUCH INSTITUTION SHALL HAVE RECEIVED
A RECORD OF PERFORMANCE NO LOWER THAN "SATISFACTORY" AS DETERMINED UNDER
SUCH ACT IN ACCORDANCE WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09913-04-0

co-Sponsors

2009-S4291C (ACTIVE) - Details

See Assembly Version of this Bill:
A6312
Law Section:
State Finance Law
Laws Affected:
Amd §106, St Fin L

2009-S4291C (ACTIVE) - Summary

Prohibits comptroller from establishing an account in a banking institution with a "community reinvestment act of 1977" rating of less than satisfactory.

2009-S4291C (ACTIVE) - Sponsor Memo

2009-S4291C (ACTIVE) - Bill Text download pdf 

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

                                 4291--C
    Cal. No. 518

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 21, 2009
                               ___________

Introduced  by  Sens. PARKER, KRUEGER -- read twice and ordered printed,
  and when printed to be committed to the Committee on Finance -- recom-
  mitted to the Committee on Finance in accordance with Senate  Rule  6,
  sec. 8 -- reported favorably from said committee, ordered to first and
  second  report,  ordered  to  a  third  reading,  amended  and ordered
  reprinted, retaining its place in the order of third reading --  again
  amended  and  ordered  reprinted,  retaining its place in the order of
  third reading -- again amended and ordered  reprinted,  retaining  its
  place in the order of third reading

AN ACT to amend the state finance law, in relation to funds of the state

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

  Section 1. Section 106 of the state finance law, is amended by  adding
a new subdivision C to read as follows:
  C.  NOTWITHSTANDING  ANY  OTHER  PROVISIONS OF THIS SECTION, THE COMP-
TROLLER SHALL NOT DESIGNATE FOR THE DEPOSIT OF MONEYS BY STATE OFFICERS,
STATE INSTITUTIONS AND CHARITABLE AND BENEVOLENT INSTITUTIONS  SUPPORTED
IN  WHOLE  OR  IN  PART  BY THE STATE A BANKING INSTITUTION TO WHICH THE
COMMUNITY REINVESTMENT ACT OF 1977, UNITED STATES P.L.  95-128,  APPLIES
UNLESS  SUCH  INSTITUTION SHALL HAVE RECEIVED A RECORD OF PERFORMANCE NO
LOWER THAN "SATISFACTORY" AS DETERMINED UNDER  SUCH  ACT  IN  ACCORDANCE
WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09913-07-0

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