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Senate Bill S207

2009-2010 Legislative Session

Establishes civil penalty for failure to accept certain checks for deposit

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Archive: Last Bill Status - In Senate Committee Banks Committee

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2009-S207 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง9-p, Bank L
Versions Introduced in 2011-2012 Legislative Session:
S2223

2009-S207 (ACTIVE) - Summary

Imposes a civil penalty of not less than $100 nor more than $500 upon a banking organization which fails or refuses to accept certain checks for deposit; directs department of banking to promulgate rules and regulations necessary for the implementation of this act.

2009-S207 (ACTIVE) - Sponsor Memo

2009-S207 (ACTIVE) - Bill Text download pdf 

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

                                   207

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2009
                               ___________

Introduced  by  Sen.  KRUGER -- 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  acceptance  of  certain
  checks for deposit

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

  Section 1. Section 9-p of the banking law, as added by chapter 330  of
the  laws of 1988 and as renumbered by chapter 1 of the laws of 1994, is
amended to read as follows:
   S 9-p. Acceptance of certain checks for deposit. 1. No banking insti-
tution as that term is defined in section nine-f of this [chapter] ARTI-
CLE shall, as a policy or general practice, refuse to accept as a depos-
it made with a teller by an account holder a check for the  sole  reason
that  it  contains  two  endorsements.  Nothing  contained  herein shall
prevent a banking institution from requiring the approval of an  officer
or manager as a condition of accepting a check with two endorsements for
deposit  or  from  refusing  to  accept  a  deposit  of a check with two
endorsements that is not made with a teller.
  2. A VIOLATION OF THIS SECTION SHALL BE PUNISHABLE BY A CIVIL FINE  OF
NOT LESS THAN ONE HUNDRED DOLLARS NOR MORE THAN FIVE HUNDRED DOLLARS.
  3.  THE  DEPARTMENT  SHALL PROMULGATE RULES AND REGULATIONS TO ENFORCE
THE PROVISIONS OF THIS SECTION.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03115-01-9

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