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Assembly Bill A5510

2011-2012 Legislative Session

Increases from twenty dollars to thirty dollars the processing fee that holders of dishonored checks may charge

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2011-A5510 (ACTIVE) - Details

Law Section:
General Obligations Law
Laws Affected:
Amd ยง5-328, Gen Ob L
Versions Introduced in 2009-2010 Legislative Session:
A5920

2011-A5510 (ACTIVE) - Summary

Increases from twenty dollars to thirty dollars the processing fee that holders of dishonored checks may charge.

2011-A5510 (ACTIVE) - Bill Text download pdf 

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

                                  5510

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 22, 2011
                               ___________

Introduced by M. of A. TOWNS, STEVENSON -- read once and referred to the
  Committee on Judiciary

AN  ACT  to amend the general obligations law, in relation to processing
  fees charged by holders of dishonored checks

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

  Section  1.  Paragraph  (a)  of  subdivision 2 of section 5-328 of the
general obligations law, as amended by chapter 15 of the laws  of  1991,
is amended to read as follows:
  (a)  The  holder of a dishonored check given in payment for a consumer
transaction or an account may  collect  from,  charge,  or  add  to  the
outstanding  balance  of the account of, the person from whom such check
was received or to whom such credit was  extended,  a  dishonored  check
charge  of  not  more  than  the  lesser  of  the amount agreed upon, if
contracted for, or [twenty] THIRTY dollars.
  S 2. Subdivision 3 of section 5-328 of the general obligations law, as
added by chapter 529 of the laws of 1995, is amended to read as follows:
  3. Notwithstanding any other provision of law, any person  to  whom  a
check,  draft  or  like instrument, other than a money order, bank cash-
ier's check or certified check, is tendered for any  transaction,  other
than  a  consumer  transaction,  may,  if  such instrument is dishonored
charge or collect from the maker or drawer the amount of [twenty] THIRTY
dollars for the return of such unpaid or dishonored instrument.
  S 3. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09648-01-1

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