Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to banks |
May 21, 2009 |
referred to banks |
Assembly Bill A8484
2009-2010 Legislative Session
Sponsored By
RIVERA P
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
2009-A8484 (ACTIVE) - Details
- Current Committee:
- Assembly Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §351-a, Bank L; amd §§301 & 401, Pers Prop L
- Versions Introduced in 2011-2012 Legislative Session:
-
A3533
2009-A8484 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8484 2009-2010 Regular Sessions I N A S S E M B L Y May 21, 2009 ___________ Introduced by M. of A. P. RIVERA, ESPAILLAT, ALFANO -- Multi-Sponsored by -- M. of A. BARRA, COOK, JACOBS, ORTIZ -- read once and referred to the Committee on Banks AN ACT to amend the banking law and the personal property law, in relation to authorizing licensed lenders to issue credit cards and act as financing agencies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 351-a to read as follows: S 351-A. CREDIT CARDS AUTHORIZED. IN PURSUANCE OF THE AUTHORITY GRANT- ED PURSUANT TO THIS ARTICLE, LICENSED LENDERS SHALL BE EMPOWERED TO ISSUE CREDIT CARDS, EXTEND CREDIT IN CONNECTION THEREWITH, OTHERWISE ENGAGE IN OR PARTICIPATE IN CREDIT CARD OPERATIONS, PURSUANT TO AND AS PROVIDED IN ARTICLE TEN OF THE PERSONAL PROPERTY LAW, AND TO ACT AS FINANCING AGENCIES AS DEFINED IN SUBDIVISION NINE OF SECTION THREE HUNDRED ONE AND SUBDIVISION EIGHTEEN OF SECTION FOUR HUNDRED ONE OF THE PERSONAL PROPERTY LAW. S 2. Subdivision 9 of section 301 of the personal property law, as amended by chapter 883 of the laws of 1980, is amended to read as follows: 9. "Financing agency" means a person engaged, in whole or in part, in the business of purchasing retail instalment contracts from one or more retail sellers. The term includes but is not limited to a bank, trust company, savings bank, savings and loan association, private banker, LICENSED LENDER AS DEFINED UNDER ARTICLE NINE OF THE BANKING LAW, or investment company, if so engaged. The term also includes a retail sell- er engaged, in whole or in part, in the business of holding retail instalment contracts acquired from retail buyers. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11746-01-9 A. 8484 2
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.