Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 04, 2012 |
enacting clause stricken |
Jan 04, 2012 |
referred to banks |
Apr 28, 2011 |
reference changed to banks |
Jan 25, 2011 |
referred to ways and means |
Assembly Bill A3533
2011-2012 Legislative Session
Sponsored By
RIVERA P
Archive: Last Bill Status - Stricken
- 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
multi-Sponsors
Vivian Cook
Rhoda Jacobs
Felix Ortiz
2011-A3533 (ACTIVE) - Details
- Law Section:
- Banking Law
- Laws Affected:
- Add §351-a, Bank L; amd §§301 & 401, Pers Prop L
- Versions Introduced in 2009-2010 Legislative Session:
-
A8484
2011-A3533 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3533 2011-2012 Regular Sessions I N A S S E M B L Y January 25, 2011 ___________ Introduced by M. of A. P. RIVERA -- Multi-Sponsored by -- M. of A. COOK, JACOBS, ORTIZ -- read once and referred to the Committee on Ways and Means 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. LBD01125-01-1 A. 3533 2
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