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Senate Bill S5244

2009-2010 Legislative Session

Provides that no business, corporation, company, banking organization or mortgage lender shall send an unsolicited negotiable instrument through the mail

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Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection Committee

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2009-S5244 (ACTIVE) - Details

Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Add ยง399-i, Gen Bus L

2009-S5244 (ACTIVE) - Summary

Provides that no business, corporation, company, banking organization or mortgage lender shall send an unsolicited negotiable instrument through the mail; defines "negotiable instrument" to mean any instrument which meets the requirements of article three of the uniform commercial code; provides that any violation of this section shall be punishable by a fine not to exceed five hundred dollars.

2009-S5244 (ACTIVE) - Sponsor Memo

2009-S5244 (ACTIVE) - Bill Text download pdf 

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

                                  5244

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen.  ALESI  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Consumer Protection

AN ACT to amend the general business law, in relation to prohibiting the
  sending of an unsolicited negotiable instrument through the mail

  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
399-i to read as follows:
  S  399-I.  PROHIBITION OF SENDING AN UNSOLICITED NEGOTIABLE INSTRUMENT
THROUGH THE MAIL. 1. NO BUSINESS, CORPORATION, COMPANY,  BANKING  ORGAN-
IZATION  OR MORTGAGE LENDER SHALL SEND AN UNSOLICITED NEGOTIABLE INSTRU-
MENT THROUGH THE MAIL. FOR THE PURPOSES OF THIS SECTION, THE TERM "NEGO-
TIABLE  INSTRUMENT"  SHALL  MEAN  ANY   INSTRUMENT   WHICH   MEETS   THE
REQUIREMENTS OF ARTICLE THREE OF THE UNIFORM COMMERCIAL CODE.
  2.  ANY VIOLATION OF THIS SECTION SHALL BE PUNISHABLE BY A FINE NOT TO
EXCEED FIVE HUNDRED DOLLARS.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11508-01-9

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