Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 06, 2010 |
referred to banks |
Feb 11, 2009 |
referred to banks |
Senate Bill S2131
2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Banks 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-S2131 (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §6-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
BILL NUMBER: S2131 TITLE OF BILL : An act to amend the banking law, in relation to the payment of negotiable instruments by a drawee bank SUMMARY : A new section, 6-n is added to the Banking Law which requires banks and foreign banking corporations in this State to cash properly if the payee is not a depositor of that bank. Requires such payee provide sufficient identification (drivers license or sheriffs identification card). JUSTIFICATION : Banks generally refuse to cash checks of customers who are not their depositors. This is justified in cases where the bank cannot validate the authenticity of the check being cashed. However, banks have the ability to verify the balance of their own depositors' accounts and can assess fees or penalties against their depositors. Eliminating the lack of direct accountability, there is no reason why a banking organization cannot honor a check that is drawn from an account held by such banking organization. FISCAL IMPLICATIONS : None.
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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