Senate Bill S5279

2009-2010 Legislative Session

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons

download bill text pdf

Archive: Last Bill Status - On Floor Calendar

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

Date of Action	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 26, 2010	advanced to third reading
Mar 25, 2010	2nd report cal.
Mar 24, 2010	1st report cal.318
Mar 10, 2010	print number 5279b
Mar 10, 2010	amend and recommit to banks
Jan 06, 2010	referred to banks
Jun 04, 2009	print number 5279a
Jun 04, 2009	amend and recommit to banks
Apr 27, 2009	referred to banks

Votes

- Mar 24, 2010 - Banks Committee Vote
  S5279
  
  Aye
  
  9
  
  Nay
  
  0
  
  Aye with Reservations
  
  9
  
  Absent
  
  0
  
  Excused
  
  1
  
  Abstained
  
  0
  - - Banks Committee Vote: Mar 24, 2010
      
      aye (9)
      
      Diaz
      
      Golden
      
      Klein
      
      Krueger
      
      Kruger
      
      Onorato
      
      Peralta
      
      Savino
      
      Stewart-Cousins
      
      aye wr (9)
      
      Adams
      
      Bonacic
      
      Breslin
      
      DeFrancisco
      
      Farley
      
      Foley
      
      Johnson
      
      Marcellino
      
      Ranzenhofer
      
      excused (1)
      
      Morahan

Bill Amendments

Original

B (Active)

2009-S5279 - Details

Laws Affected:: Amd §96-d, Bank L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S34
2013-2014: S194
2015-2016: S157
2017-2018: S2021, S7100
2019-2020: S2342
2021-2022: S2902

2009-S5279 - Summary

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

2009-S5279 - Sponsor Memo

                                 BILL NUMBER:  S5279

 TITLE OF BILL :  An act to amend the banking law, in relation to
including low income credit unions in the banking development district
program

 PURPOSE OF BILL : To include low-income credit unions in the state's
banking development districts program.

 SUMMARY OF PROVISIONS : The bill amends Section 96-d of the banking
law to include credit unions that have been designated low-income
credit unions by the State or the National Credit Union
Administration, in the banking development districts program.

 JUSTIFICATION : Section 96-d of the Banking Law, entitled "Banking
Development Districts" (BDD's) is designed to increase access to
banking services by supporting. branches in areas where there is a
demonstrated need for such services. In this way, the program aims to
enable local residents and small business owners to more easily become
part of the financial mainstream, promote economic development, and
stimulate the local economy by enhancing access to capital for local
businesses.

In order to support branches in designated BDD's, the state
comptroller, public authorities or public benefit corporations of the
state, the commissioner of taxation and finance, and municipalities

may deposit public funds in these branches.

Section 96-d currently allows state and national banks, trust
companies, savings banks, savings and loan associations, and federal
savings banks to participate in the program, but omits credit unions.
By adding state low-income credit unions (already defined in section
450-a of the banking law), and any federal credit union designated
low-income by the National Credit Union Administration, to the BDD
program, this bill will help them to continue their historic work of
providing affordable financial services to consumers who might
otherwise have difficulty accessing these services.

This bill will not require support of any particular low-income credit
union by any state or municipal agency, but will merely allow state
and federal low-income credit unions to be considered for such
support, on par with other types of financial institutions already
included in the BDD program.

 LEGISLATIVE HISTORY : 2008: A8883 (Kavanagh) - Banks 2007: A8883
(Kavanagh) - Banks

 FISCAL IMPACT ON THE STATE : None.

 EFFECTIVE DATE : This act shall take effect immediately, provided,
however, that the amendments to paragraph (a) of 'subdivision 5 of
section 96-d of the banking law made by section one of this act shall
not affect the repeal of such subdivision and shall be deemed to be
repealed therewith; provided further that the amendments to
subdivision 3 of section 96-d of the banking law made by section two
of this act shall be subject to the expiration and reversion of such
subdivision pursuant to section 4 of chapter 526 of the laws of 1998,
as amended, when upon such date the provisions of section three of
this act shall take effect.

2009-S5279 - Bill Text download pdf

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

                                  5279

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sens.  SQUADRON,  ADAMS,  C. JOHNSON,  SAMPSON, SERRANO,
  STAVISKY -- read twice and ordered printed, and  when  printed  to  be
  committed to the Committee on Banks

AN  ACT  to  amend  the banking law, in relation to including low income
  credit unions in the banking development district program

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

  Section  1.  Subdivisions 2 and 2-a and paragraph (a) of subdivision 5
of section 96-d of the banking law, subdivision 2 as  added  by  chapter
204  of  the laws of 1997, subdivision 2-a as added and paragraph (a) of
subdivision 5 as amended by chapter 328 of the laws of 1999, are amended
to read as follows:
  2. A local government, in conjunction with a bank, trust company [or],
national bank, LOW INCOME CREDIT UNION AS  DESIGNATED  BY  SECTION  FOUR
HUNDRED  FIFTY-A  OF  THIS CHAPTER, OR ANY FEDERAL CREDIT UNION THAT HAS
BEEN DESIGNATED A LOW INCOME CREDIT UNION BY THE NATIONAL  CREDIT  UNION
ADMINISTRATION,  may submit an application to the superintendent for the
designation of a banking development district. The superintendent  shall
issue  a  determination  on  such  an  application  within sixty days of
receiving such application. If an application is  approved,  the  super-
intendent  shall  transmit  notification  of  such approval to the local
government, the bank, trust company or national bank,  the  state  comp-
troller,  the  commissioner of taxation and finance, the commissioner of
the department of economic development, the temporary president  of  the
senate and the speaker of the assembly.
  2-a. Notwithstanding any other provision of law, an application may be
submitted by a local government in conjunction with a bank, trust compa-
ny [or], national bank, LOW INCOME CREDIT UNION AS DESIGNATED BY SECTION
FOUR  HUNDRED  FIFTY-A OF THIS CHAPTER, OR ANY FEDERAL CREDIT UNION THAT
HAS BEEN DESIGNATED A LOW INCOME CREDIT UNION  BY  THE  NATIONAL  CREDIT
UNION ADMINISTRATION, which has already opened a bank branch within such

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00903-03-9

S. 5279                             2

area, provided such branch was opened after December thirty-first, nine-
teen hundred ninety-six. In considering the criteria authorized pursuant
to  subdivision  one of this section, the superintendent shall also take
into  account  the  importance  and  benefits  of preserving the banking
services offered by the existing branch.
  (a) Notwithstanding the provisions of subdivision two of  section  two
hundred  thirty-seven of this chapter; for the purposes of this section,
paragraph c of subdivision two of section ten of the  general  municipal
law,  subdivision  six  of section one hundred five of the state finance
law and section four hundred eighty-five-f of the real property tax law,
any reference to a bank, trust company [or], national bank,  LOW  INCOME
CREDIT UNION AS DESIGNATED BY SECTION FOUR HUNDRED FIFTY-A OF THIS CHAP-
TER,  OR  ANY FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A LOW INCOME
CREDIT UNION BY THE  NATIONAL  CREDIT  UNION  ADMINISTRATION,  shall  be
deemed  to include a savings bank, savings and loan association, federal
savings and loan association or federal savings bank; provided, however,
that such provisions of law do not grant a  savings  bank,  savings  and
loan  association,  federal  savings  and  loan  association  or federal
savings bank eligibility to accept municipal or public funds or  munici-
pal  or  public moneys other than for the limited purposes of the estab-
lishment of a branch in a banking development district pursuant to  this
section. Any such municipal or public funds or moneys shall be deposited
only at the branch established pursuant to this section, and any munici-
pal funds or moneys may be deposited only by the sponsoring municipality
in  which  the  branch  and  banking  development  district are located;
provided further that any such municipal or public funds or moneys shall
be subject to the same requirements which apply to municipal  or  public
funds  or moneys deposited in a bank, trust company [or], national bank,
LOW INCOME CREDIT UNION AS DESIGNATED BY SECTION FOUR HUNDRED FIFTY-A OF
THIS CHAPTER, OR ANY FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A LOW
INCOME CREDIT UNION BY THE NATIONAL  CREDIT  UNION  ADMINISTRATION,  and
shall  also  be subject to the provisions of section one hundred five of
the state finance law or section ten of the general municipal law relat-
ing to such deposits.
  S 2. Subdivision 3 of section 96-d of the banking law, as  amended  by
chapter 526 of the laws of 1998, is amended to read as follows:
  3.  The establishment of a branch in a banking development district by
a bank, trust company [or], national bank, LOW INCOME  CREDIT  UNION  AS
DESIGNATED  BY  SECTION  FOUR  HUNDRED  FIFTY-A  OF THIS CHAPTER, OR ANY
FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A LOW INCOME CREDIT  UNION
BY  THE  NATIONAL  CREDIT  UNION ADMINISTRATION, shall be subject to all
applicable state and federal laws regarding the establishment of  branch
offices,  including  the  provisions of section one hundred five of this
article, provided however  that  the  branch  application  fee  required
pursuant  to section twenty-nine of this chapter shall be waived for any
such branch. A bank or trust company may submit an application to open a
branch office simultaneously with the submission of the application  for
the designation of a banking development district.
  S  3.  Subdivision 3 of section 96-d of the banking law, as amended by
chapter 204 of the laws of 1997, is amended to read as follows:
  3. The establishment of a branch in a banking development district  by
a  bank,  trust  company [or], national bank, LOW INCOME CREDIT UNION AS
DESIGNATED BY SECTION FOUR HUNDRED  FIFTY-A  OF  THIS  CHAPTER,  OR  ANY
FEDERAL  CREDIT UNION THAT HAS BEEN DESIGNATED A LOW INCOME CREDIT UNION
BY THE NATIONAL CREDIT UNION ADMINISTRATION, shall  be  subject  to  all
applicable  state and federal laws regarding the establishment of branch

S. 5279                             3

offices, including the provisions of section one hundred  five  of  this
article.  A  bank  or  trust company may submit an application to open a
branch office simultaneously with the submission of the application  for
the designation of a banking development district.
  S  4.  This act shall take effect immediately, provided, however, that
the amendments to paragraph (a) of subdivision 5 of section 96-d of  the
banking  law made by section one of this act shall not affect the repeal
of such subdivision and  shall  be  deemed  to  be  repealed  therewith;
provided further that the amendments to subdivision 3 of section 96-d of
the  banking law made by section two of this act shall be subject to the
expiration and reversion of such subdivision pursuant to  section  4  of
chapter  526  of  the  laws of 1998, as amended, when upon such date the
provisions of section three of this act shall take effect.

co-Sponsors

View additional co-sponsors

2009-S5279A - Details

Laws Affected:: Amd §96-d, Bank L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S34
2013-2014: S194
2015-2016: S157
2017-2018: S2021, S7100
2019-2020: S2342
2021-2022: S2902

2009-S5279A - Summary

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

2009-S5279A - Sponsor Memo

                                 BILL NUMBER:  S5279A

 TITLE OF BILL :
An act to amend the banking law, in relation to including low income
credit unions in the banking development district program


 PURPOSE OF BILL :
To include low-income credit unions in the state's banking development
districts program.

 SUMMARY OF PROVISIONS :
The bill amends Section 96-d of the banking law to include credit
unions that have been designated low-income credit unions by the State
or the National Credit Union Administration, in the banking
development districts program.

 JUSTIFICATION :
Section 96-d of the Banking Law, entitled "Banking Development
Districts" (BDD's) is designed to increase access to banking services
by supporting branches in areas where there is a demonstrated need for
such services. In this way, the program aims to enable local residents
and small business owners to more easily become part of the financial
mainstream, promote economic development, and stimulate the local
economy by enhancing access to capital for local businesses.

In order to support branches in designated BDD's, the state
comptroller, public authorities or public benefit corporations of the
state, the commissioner of taxation and finance, and municipalities
may deposit public funds in these branches.

Section 96-d currently allows state and national banks, trust
companies, savings banks, savings and loan associations, and federal
savings banks to participate in the program, but omits credit unions.

By adding state low-income credit unions (already defined in section
450-a of the banking law), and any federal credit union designated
low-income by the National Credit Union Administration, to the BDD
program, this bill will help them to continue their historic work of
providing affordable financial services to consumers who might
otherwise have difficulty accessing these services.

This bill will not require support of any particular low-income credit
union by any state or municipal agency, but will merely allow state
and federal low-income credit unions to be considered for such
support, on par with other types of financial institutions already
included in the BDD program.

 LEGISLATIVE HISTORY :
2008: A8883 (Kavanagh) - Banks
2007: A8883 (Kavanagh) - Banks

 FISCAL IMPACT ON THE STATE :
None.

 EFFECTIVE DATE :
This act shall take effect immediately, provided, however, that the
amendments subdivision 5 of section 96-d of the banking law made by
section one of this act shall not affect the repeal of such
subdivision and shall be deemed to be repealed therewith.

2009-S5279A - Bill Text download pdf

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

                                 5279--A

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sens.  SQUADRON,  ADAMS,  HASSELL-THOMPSON,  C. JOHNSON,
  KRUEGER, SAMPSON, SERRANO, STAVISKY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks --  commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee

AN ACT to amend the banking law, in relation  to  including  low  income
  credit unions in the banking development district program

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

  Section 1. Subdivision 5 of section 96-d of the banking law, as  added
by chapter 526 of the laws of 1998, is amended to read as follows:
  5.  (a)  Notwithstanding  the provisions of subdivision two of section
two hundred thirty-seven of this  chapter;  for  the  purposes  of  this
section,  paragraph  c  of subdivision two of section ten of the general
municipal law, subdivision six of section one hundred five of the  state
finance  law and section four hundred eighty-five-f of the real property
tax law, any reference to a bank, trust company or national  bank  shall
be  deemed  to  include  a  savings  bank, savings and loan association,
federal savings and loan association or federal savings bank OR ANY  LOW
INCOME  CREDIT  UNION  AS  DESIGNATED BY SECTION FOUR HUNDRED FIFTY-A OF
THIS CHAPTER OR ANY FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A  LOW
INCOME  CREDIT  UNION  BY  THE  NATIONAL  CREDIT  UNION  ADMINISTRATION;
provided, however, that such provisions of law do not  grant  a  savings
bank, savings and loan association, federal savings and loan association
or  federal savings bank OR ANY LOW INCOME CREDIT UNION AS DESIGNATED BY
SECTION FOUR HUNDRED FIFTY-A OF THIS CHAPTER OR ANY FEDERAL CREDIT UNION
THAT HAS BEEN DESIGNATED A LOW INCOME CREDIT UNION BY THE NATIONAL CRED-
IT UNION ADMINISTRATION eligibility to accept municipal or public  funds
or municipal or public moneys other than for the limited purposes of the
establishment  of a branch in a banking development district pursuant to
this section. Any such municipal or public  funds  or  moneys  shall  be

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00903-04-9

S. 5279--A                          2

deposited  only  at the branch established pursuant to this section, and
any municipal funds or moneys may be deposited only  by  the  sponsoring
municipality  in  which  the branch and banking development district are
located;  provided  further  that  any such municipal or public funds or
moneys shall be subject to the same requirements which apply to  munici-
pal  or  public  funds  or  moneys deposited in a bank, trust company or
national bank and shall also be subject to the provisions of section one
hundred five of the state finance law or  section  ten  of  the  general
municipal law relating to such deposits.
  (b)  Notwithstanding  any  other  provision  of law, the banking board
shall promulgate rules and regulations to authorize the participation of
savings banks, savings and loan associations, federal savings banks  and
federal  savings and loan associations OR ANY LOW INCOME CREDIT UNION AS
DESIGNATED BY SECTION FOUR HUNDRED FIFTY-A OF THIS CHAPTER OR ANY FEDER-
AL CREDIT UNION THAT HAS BEEN DESIGNATED A LOW INCOME  CREDIT  UNION  BY
THE  NATIONAL  CREDIT  UNION  ADMINISTRATION  in the program established
pursuant to this section.
  S 2. This act shall take effect immediately, provided,  however,  that
the  amendments to subdivision 5 of section 96-d of the banking law made
by section one of this act shall not affect the repeal of such  subdivi-
sion and shall be deemed to be repealed therewith.

co-Sponsors

View additional co-sponsors

2009-S5279B (ACTIVE) - Details

Laws Affected:: Amd §96-d, Bank L
Versions Introduced in Other Legislative Sessions:: 2011-2012: S34
2013-2014: S194
2015-2016: S157
2017-2018: S2021, S7100
2019-2020: S2342
2021-2022: S2902

2009-S5279B (ACTIVE) - Summary

Provides for the inclusion of low income credit unions in the banking development district program in cities having a population of one million or more persons.

2009-S5279B (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S5279B

 TITLE OF BILL :
An act to amend the banking law, in relation to including low income
credit unions in the banking development district program


 PURPOSE OF BILL :
To include low-income credit unions in the state's banking development
districts program in cities with a population of one million or more.

 SUMMARY OF PROVISIONS :
The bill amends Section 96-d of the banking law to include credit
unions that have been designated low-income credit unions by the State
or the National Credit Union Administration, in the banking
development districts program in the City of New York.

 JUSTIFICATION :
Section 96-d of the Banking Law, entitled "Banking Development
Districts" (BDD's) is designed to increase access to banking services
by supporting branches in areas where there is a demonstrated need for
such services. In this way, the program aims to enable local residents
and small business owners to more easily become part of the financial
mainstream, promote economic development, and stimulate the local
economy by enhancing access to capital for local businesses.

In order to support branches in designated BDD's, the state
comptroller, public authorities or public benefit corporations of the
state, the commissioner of taxation and finance, and municipalities
may deposit public funds in these branches.

Section 96-d currently allows state and national banks, trust
companies, savings banks, savings and loan associations, and federal
savings banks to participate in the program, but omits credit unions.

By adding state low-income credit unions (already defined in section
450-a of the banking law), and any federal credit union designated low
income by the National Credit Union Administration, to the BDD
program, this bill will help them to continue their historic work of
providing affordable financial services to consumers who might
otherwise have difficulty accessing these services.

This bill will not require support of any particular low-income credit
union by any state or municipal agency, but will merely allow state
and federal low-income credit unions to be considered for such
support, on par with other types of financial institutions already
included in the BDD program.

 LEGISLATIVE HISTORY :
2008: A.8883 (Kavanagh) - Banks
2007: A.8883 (Kavanagh) - Banks

 FISCAL IMPACT ON THE STATE :
None.

 EFFECTIVE DATE :
This act shall take effect immediately, provided, however, that the
amendments subdivision 5 of section 96-d of the banking law made by
section one of this act shall not affect the repeal of such
subdivision and shall be deemed to be repealed therewith.

2009-S5279B (ACTIVE) - Bill Text download pdf

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

                                 5279--B

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sens.  SQUADRON,  ADAMS,  HASSELL-THOMPSON,  C. JOHNSON,
  KRUEGER, SAMPSON, SERRANO, STAVISKY -- read twice and ordered printed,
  and when printed to be committed to the Committee on Banks --  commit-
  tee  discharged, bill amended, ordered reprinted as amended and recom-
  mitted to said committee -- recommitted to the Committee on  Banks  in
  accordance  with  Senate  Rule 6, sec. 8 -- committee discharged, bill
  amended, ordered reprinted as amended and recommitted to said  commit-
  tee

AN  ACT  to  amend  the banking law, in relation to including low income
  credit unions in the banking development district program

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

  Section  1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by  chapter
328 of the laws of 1999, is amended to read as follows:
  5.  (a)  Notwithstanding  the provisions of subdivision two of section
two hundred thirty-seven of this  chapter;  for  the  purposes  of  this
section,  paragraph  c  of subdivision two of section ten of the general
municipal law, subdivision six of section one hundred five of the  state
finance  law and section four hundred eighty-five-f of the real property
tax law, any reference to a bank, trust company or national  bank  shall
be  deemed  to  include  a  savings  bank, savings and loan association,
federal savings and loan association or  federal  savings  bank  OR,  IN
CITIES  HAVING  A  POPULATION  OF  ONE  MILLION OR MORE PERSONS, ANY LOW
INCOME CREDIT UNION AS DESIGNATED BY SECTION  FOUR  HUNDRED  FIFTY-A  OF
THIS  CHAPTER OR ANY FEDERAL CREDIT UNION THAT HAS BEEN DESIGNATED A LOW
INCOME  CREDIT  UNION  BY  THE  NATIONAL  CREDIT  UNION  ADMINISTRATION;
provided,  however,  that  such provisions of law do not grant a savings
bank, savings and loan association, federal savings and loan association
or federal savings bank OR, IN CITIES HAVING A POPULATION OF ONE MILLION
OR MORE PERSONS, ANY LOW INCOME CREDIT UNION AS  DESIGNATED  BY  SECTION

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00903-10-0

S. 5279--B                          2

FOUR  HUNDRED  FIFTY-A  OF THIS CHAPTER OR ANY FEDERAL CREDIT UNION THAT
HAS BEEN DESIGNATED A LOW INCOME CREDIT UNION  BY  THE  NATIONAL  CREDIT
UNION  ADMINISTRATION eligibility to accept municipal or public funds or
municipal  or  public  moneys other than for the limited purposes of the
establishment of a branch in a banking development district pursuant  to
this  section.  Any  such  municipal  or public funds or moneys shall be
deposited only at the branch established pursuant to this  section,  and
any  municipal  funds  or moneys may be deposited only by the sponsoring
municipality in which the branch and banking  development  district  are
located;  provided  further  that  any such municipal or public funds or
moneys shall be subject to the same requirements which apply to  munici-
pal  or  public  funds  or  moneys deposited in a bank, trust company or
national bank and shall also be subject to the provisions of section one
hundred five of the state finance law or  section  ten  of  the  general
municipal law relating to such deposits.
  (b)  Notwithstanding  any  other  provision  of law, the banking board
shall promulgate rules and regulations to authorize the participation of
savings banks, savings and loan associations, federal savings banks  and
federal  savings and loan associations OR, IN CITIES HAVING A POPULATION
OF ONE MILLION OR MORE PERSONS, ANY LOW INCOME CREDIT  UNION  AS  DESIG-
NATED  BY  SECTION  FOUR  HUNDRED FIFTY-A OF THIS CHAPTER OR ANY FEDERAL
CREDIT UNION THAT HAS BEEN DESIGNATED A LOW INCOME CREDIT UNION  BY  THE
NATIONAL CREDIT UNION ADMINISTRATION in the program established pursuant
to this section.
  S  2.  This act shall take effect immediately, provided, however, that
the amendments to subdivision 5 of section 96-d of the banking law  made
by  section one of this act shall not affect the repeal of such subdivi-
sion and shall be deemed repealed therewith.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Find your Senator and share your views on important issues.

Do you support this bill?

Senate Bill S5279

Sponsored By

Archive: Last Bill Status - On Floor Calendar

Actions

Votes

Mar 24, 2010 - Banks Committee Vote

Banks Committee Vote: Mar 24, 2010

Bill Amendments

2009-S5279 - Details

2009-S5279 - Summary

2009-S5279 - Sponsor Memo

2009-S5279 - Bill Text download pdf

co-Sponsors

2009-S5279A - Details

2009-S5279A - Summary

2009-S5279A - Sponsor Memo

2009-S5279A - Bill Text download pdf

co-Sponsors

2009-S5279B (ACTIVE) - Details

2009-S5279B (ACTIVE) - Summary

2009-S5279B (ACTIVE) - Sponsor Memo

2009-S5279B (ACTIVE) - Bill Text download pdf

Comments

Do you support this bill?

Get Status Alerts for 2009-S5279

Senate Bill S5279

Share this bill

Sponsored By

Archive: Last Bill Status - On Floor Calendar

Actions

Votes

Bill Amendments

2009-S5279 - Details

2009-S5279 - Summary

2009-S5279 - Sponsor Memo

2009-S5279 - Bill Text download pdf

co-Sponsors

2009-S5279A - Details

2009-S5279A - Summary

2009-S5279A - Sponsor Memo

2009-S5279A - Bill Text download pdf

co-Sponsors

2009-S5279B (ACTIVE) - Details

2009-S5279B (ACTIVE) - Summary

2009-S5279B (ACTIVE) - Sponsor Memo

2009-S5279B (ACTIVE) - Bill Text download pdf

Comments