senate Bill S6777B

Signed By Governor
2011-2012 Legislative Session

Relates to branches, trust offices and interstate branching transactions; repealer

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Archive: Last Bill Status Via A10567 - Signed by Governor


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

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Actions

view actions (13)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 18, 2012 signed chap.180
Jul 06, 2012 delivered to governor
Jun 21, 2012 returned to assembly
passed senate
3rd reading cal.898
substituted for s6777b
Jun 21, 2012 substituted by a10567a
Jun 18, 2012 amended on third reading 6777b
Jun 04, 2012 amended on third reading 6777a
May 31, 2012 advanced to third reading
May 30, 2012 2nd report cal.
May 23, 2012 1st report cal.898
Mar 21, 2012 referred to banks

S6777 - Details

See Assembly Version of this Bill:
A10567A
Law Section:
Banking Law
Laws Affected:
Rpld §§223-a & 223-c, amd Bank L, generally

S6777 - Summary

Relates to branches, trust offices and interstate branching transactions.

S6777 - Sponsor Memo

S6777 - Bill Text download pdf

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

                                  6777

                            I N  S E N A T E

                             March 21, 2012
                               ___________

Introduced  by Sen. GRIFFO -- (at request of the Department of Financial
  Services) -- 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 branches, trust offices
  and  interstate  branching  transactions,  and   to   repeal   certain
  provisions of such law relating thereto

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

  Section 1. Subdivision 4 of  section  28-b  of  the  banking  law,  as
amended  by  chapter  883  of  the  laws  of 1980, is amended to read as
follows:
  4. Notwithstanding any other provision of this chapter or OTHER law to
the contrary, the term banking institution when  used  in  this  section
shall  mean  and  include  all  banks,  trust  companies, savings banks,
savings and loan associations, credit unions and foreign banking  corpo-
rations incorporated, chartered, organized or licensed under the laws of
this state. IN THE CASE OF A FOREIGN BANKING CORPORATION LICENSED PURSU-
ANT  TO THIS ARTICLE AND MAINTAINING A BRANCH IN THIS STATE, THE MANAGE-
MENT OF THE BRANCH SHALL ESTABLISH A COMMITTEE OF NOT FEWER  THAN  THREE
OFFICERS TO FUNCTION IN THE ROLE OF A BOARD OF DIRECTORS FOR PURPOSES OF
THIS SECTION.
  S  2.  Subdivisions 1, 2, and 3 of section 28-c of the banking law, as
added by chapter 362 of the  laws  of  1984,  are  amended  to  read  as
follows:
  1.  This  section  is  intended  to  provide  the  superintendent with
detailed information concerning the planned closing of branch offices by
state-chartered banking organizations, the availability  of  alternative
financial services within the general area served by such branch and the
economic  impact  upon the community resulting from such closing, and to
provide the superintendent with authority to conduct meetings with bank-
ing organizations and community groups in areas where a  branch  closing
is  planned.    THE  REQUIREMENTS OF THIS SECTION SHALL NOT APPLY TO THE
FOLLOWING:
  (A) BRANCH OFFICES LOCATED OUTSIDE THE STATE OF NEW YORK;

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

S6777A - Details

See Assembly Version of this Bill:
A10567A
Law Section:
Banking Law
Laws Affected:
Rpld §§223-a & 223-c, amd Bank L, generally

S6777A - Summary

Relates to branches, trust offices and interstate branching transactions.

S6777A - Sponsor Memo

S6777A - Bill Text download pdf

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

                                 6777--A
    Cal. No. 898

                            I N  S E N A T E

                             March 21, 2012
                               ___________

Introduced  by Sen. GRIFFO -- (at request of the Department of Financial
  Services) -- read twice and ordered printed, and when  printed  to  be
  committed  to  the  Committee on Banks -- reported favorably from said
  committee, ordered to first and second  report,  ordered  to  a  third
  reading,  amended  and  ordered  reprinted, retaining its place in the
  order of third reading

AN ACT to amend the banking law, in relation to branches, trust  offices
  and   interstate   branching   transactions,  and  to  repeal  certain
  provisions of such law relating thereto

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

  Section  1.  Subdivision  4  of  section  28-b  of the banking law, as
amended by chapter 883 of the laws  of  1980,  is  amended  to  read  as
follows:
  4. Notwithstanding any other provision of this chapter or OTHER law to
the  contrary,  the  term  banking institution when used in this section
shall mean and  include  all  banks,  trust  companies,  savings  banks,
savings  and loan associations, credit unions and foreign banking corpo-
rations incorporated, chartered, organized or licensed under the laws of
this state. IN THE CASE OF A FOREIGN BANKING CORPORATION LICENSED PURSU-
ANT TO THIS ARTICLE AND MAINTAINING A BRANCH IN THIS STATE, THE  MANAGE-
MENT  OF  THE BRANCH SHALL ESTABLISH A COMMITTEE OF NOT FEWER THAN THREE
OFFICERS TO FUNCTION IN THE ROLE OF A BOARD OF DIRECTORS FOR PURPOSES OF
THIS SECTION.
  S 2. Subdivisions 1, 2, and 3 of section 28-c of the banking  law,  as
added  by  chapter  362  of  the  laws  of  1984, are amended to read as
follows:
  1. This  section  is  intended  to  provide  the  superintendent  with
detailed information concerning the planned closing of branch offices by
state-chartered  banking  organizations, the availability of alternative
financial services within the general area served by such branch and the
economic impact upon the community resulting from such closing,  and  to
provide the superintendent with authority to conduct meetings with bank-
ing  organizations  and community groups in areas where a branch closing

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

S6777B (ACTIVE) - Details

See Assembly Version of this Bill:
A10567A
Law Section:
Banking Law
Laws Affected:
Rpld §§223-a & 223-c, amd Bank L, generally

S6777B (ACTIVE) - Summary

Relates to branches, trust offices and interstate branching transactions.

S6777B (ACTIVE) - Sponsor Memo

S6777B (ACTIVE) - Bill Text download pdf

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

                                 6777--B
    Cal. No. 898

                            I N  S E N A T E

                             March 21, 2012
                               ___________

Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks -- reported  favora-
  bly  from  said committee, ordered to first and second report, ordered
  to a third reading, amended and ordered reprinted, retaining its place
  in the order of third reading -- again amended and ordered  reprinted,
  retaining its place in the order of third reading

AN  ACT to amend the banking law, in relation to branches, trust offices
  and  interstate  branching  transactions,  and   to   repeal   certain
  provisions of such law relating thereto

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

  Section 1. Subdivision 4 of  section  28-b  of  the  banking  law,  as
amended  by  chapter  883  of  the  laws  of 1980, is amended to read as
follows:
  4. Notwithstanding any other provision of this chapter or OTHER law to
the contrary, the term banking institution when  used  in  this  section
shall  mean  and  include  all  banks,  trust  companies, savings banks,
savings and loan associations, credit unions and foreign banking  corpo-
rations incorporated, chartered, organized or licensed under the laws of
this state. IN THE CASE OF A FOREIGN BANKING CORPORATION LICENSED PURSU-
ANT  TO THIS ARTICLE AND MAINTAINING A BRANCH IN THIS STATE, THE MANAGE-
MENT OF THE BRANCH SHALL ESTABLISH A COMMITTEE OF NOT FEWER  THAN  THREE
OFFICERS TO FUNCTION IN THE ROLE OF A BOARD OF DIRECTORS FOR PURPOSES OF
THIS SECTION.
  S  2.  Subdivisions 1, 2, and 3 of section 28-c of the banking law, as
added by chapter 362 of the  laws  of  1984,  are  amended  to  read  as
follows:
  1.  This  section  is  intended  to  provide  the  superintendent with
detailed information concerning the planned closing of branch offices by
state-chartered banking organizations, the availability  of  alternative
financial services within the general area served by such branch and the
economic  impact  upon the community resulting from such closing, and to
provide the superintendent with authority to conduct meetings with bank-
ing organizations and community groups in areas where a  branch  closing

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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