senate Bill S3671

2011-2012 Legislative Session

Provides a definition of the word "timely" for purposes of real property insurance escrow accounts

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to banks
Mar 01, 2011 referred to banks

S3671 - Details

Current Committee:
Law Section:
Banking Law
Laws Affected:
Amd ยง6-k, Bank L
Versions Introduced in 2009-2010 Legislative Session:
A167, S3491

S3671 - Summary

Provides a definition of the word "timely" for purposes of real property insurance escrow accounts.

S3671 - Sponsor Memo

S3671 - Bill Text download pdf

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

                                  3671

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                              March 1, 2011
                               ___________

Introduced  by  Sen.  SMITH  -- 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  definition  of  the
  word "timely" for real property insurance escrow accounts

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

  Section 1. Subdivision 1 of section 6-k of the banking law is  amended
by adding a new paragraph (f) to read as follows:
  (F) "TIMELY" SHALL MEAN TEN DAYS PRIOR TO THE DATE ON WHICH REAL PROP-
ERTY INSURANCE PREMIUMS ARE DUE AND PAYABLE.
  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.
                                                           LBD04667-01-1

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