Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 25, 2010 |
held for consideration in consumer affairs and protection |
Jan 06, 2010 |
referred to consumer affairs and protection |
Jan 07, 2009 |
referred to consumer affairs and protection |
Assembly Bill A1541
2009-2010 Legislative Session
Sponsored By
REILLY
Archive: Last Bill Status - In Assembly Committee
- 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
Actions
co-Sponsors
Margaret Markey
Ellen C. Jaffee
Michael Benedetto
Francine DelMonte
multi-Sponsors
William Boyland
Alec Brook-Krasny
Sandy Galef
Deborah Glick
2009-A1541 (ACTIVE) - Details
- Current Committee:
- Assembly Consumer Affairs And Protection
- Law Section:
- General Business Law
- Laws Affected:
- Add §396-ii, amd §396-i, Gen Bus L
- Versions Introduced in 2011-2012 Legislative Session:
-
A3525
2009-A1541 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1541 2009-2010 Regular Sessions I N A S S E M B L Y (PREFILED) January 7, 2009 ___________ Introduced by M. of A. REILLY, MARKEY, JAFFEE, BENEDETTO, DelMONTE, TOWNS, ROSENTHAL, PEOPLES, MAISEL, J. RIVERA -- Multi-Sponsored by -- M. of A. BOYLAND, BROOK-KRASNY, GALEF, GLICK, GREENE, KOON, LUPARDO, MAYERSOHN, McENENY, WEISENBERG -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to requiring retailers to hold in escrow the value of gift certificates issued THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new section 396-ii to read as follows: S 396-II. GIFT CERTIFICATE ESCROW ACCOUNT. 1. FOR THE PURPOSES OF THIS SECTION, "GIFT CERTIFICATE" IS DEFINED BY SECTION THREE HUNDRED NINETY- SIX-I OF THIS ARTICLE. 2. ANY PERSON, FIRM, PARTNERSHIP, ASSOCIATION OR CORPORATION WHO OR WHICH ISSUES GIFT CERTIFICATES MUST DEPOSIT AND HOLD FUNDS EQUAL TO THE FACE VALUE OF SUCH ISSUED GIFT CERTIFICATE IN AN ESCROW ACCOUNT. 3. UPON THE CLOSING OR BANKRUPTCY OF ANY PERSON, FIRM, PARTNERSHIP, ASSOCIATION OR CORPORATION HAVING ISSUED GIFT CERTIFICATES, THE HOLDER OF A GIFT CERTIFICATE SHALL BE ENTITLED TO REIMBURSEMENT IN THE AMOUNT EQUAL TO THE FACE VALUE OF THE GIFT CERTIFICATE FROM THE FUNDS HELD IN ESCROW AS PRESCRIBED IN SUBDIVISION TWO OF THIS SECTION. 4. THE TERMS AND CONDITIONS OF THE GIFT CERTIFICATE ESCROW ACCOUNT SHALL BE CLEARLY AND CONSPICUOUSLY STATED IN ACCORDANCE WITH SECTION THREE HUNDRED NINETY-SIX-I OF THIS ARTICLE. TERMS AND CONDITIONS SHALL INCLUDE THE EXISTENCE OF THE GIFT CERTIFICATE ESCROW ACCOUNT AND THE EVENTS UPON WHICH A HOLDER OF A GIFT CERTIFICATE IS ENTITLED TO REIMBURSEMENT FROM SUCH ACCOUNT AS PRESCRIBED IN SUBDIVISION THREE OF THIS SECTION. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03747-01-9
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.