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Senate Bill S2131

2009-2010 Legislative Session

Provides that a bank upon which a negotiable instrument is drawn shall make payment on the negotiable instrument at the time of presentment

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Archive: Last Bill Status - In Senate Committee Banks Committee

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2009-S2131 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add ยง6-n, Bank L
Versions Introduced in 2011-2012 Legislative Session:
S2122

2009-S2131 (ACTIVE) - Summary

Provides that a bank upon which a negotiable instrument is drawn shall make payment on such negotiable instrument at the time of presentment, provided proper photo identification is submitted by the payee named in such instrument, irrespective of whether the payee maintains an account with such drawee bank; defines "sufficient identification".

2009-S2131 (ACTIVE) - Sponsor Memo

2009-S2131 (ACTIVE) - Bill Text download pdf 

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

                                  2131

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 11, 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 the payment  of  negoti-
  able instruments by a drawee bank

  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  6-n  to
read as follows:
  S 6-N. PAYMENT OF NEGOTIABLE INSTRUMENTS BY A DRAWEE BANK. ANY BANKING
INSTITUTION,  AS THAT TERM IS DEFINED IN SECTION NINE-K OF THIS ARTICLE,
UPON WHICH A NEGOTIABLE INSTRUMENT, AS SUCH TERM IS DEFINED  IN  SECTION
3-104  OF  THE  UNIFORM COMMERCIAL CODE, IS DRAWN, SHALL MAKE PAYMENT TO
THE PAYEE NAMED IN SUCH NEGOTIABLE INSTRUMENT  AT  THE  TIME  THE  PAYEE
PRESENTS  SUCH NEGOTIABLE INSTRUMENT FOR PAYMENT IRRESPECTIVE OF WHETHER
SAID PAYEE MAINTAINS AN ACCOUNT WITH SAID BANKING INSTITUTION.  NOTWITH-
STANDING  THE  PROVISIONS  OF  THIS  SECTION,  A BANKING INSTITUTION MAY
DEMAND SUFFICIENT IDENTIFICATION FROM SUCH PAYEE BEFORE MAKING  PAYMENT.
FOR  PURPOSES  OF THIS SECTION, "SUFFICIENT IDENTIFICATION" SHALL MEAN A
VALID DRIVER'S LICENSE ISSUED TO SUCH PAYEE BY THE DEPARTMENT  OF  MOTOR
VEHICLES OR A SHERIFF'S IDENTIFICATION CARD.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08369-01-9

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