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Assembly Bill A4267

2011-2012 Legislative Session

Enables senior citizens to cash social security checks without maintaining an account at the bank honoring such check

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Archive: Last Bill Status - In Assembly Committee

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2011-A4267 (ACTIVE) - Details

See Senate Version of this Bill:
S77
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add ยง6-n, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2600, S7946
2013-2014: A6025, S71
2015-2016: S2226

2011-A4267 (ACTIVE) - Summary

Directs every banking organization or foreign banking corporation transacting business in this state to cash properly endorsed social security checks presented by the payee, upon sufficient identification, notwithstanding the fact that such payee does not maintain an account with such organization or corporation, upon proof that such payee is sixty-two years of age or older; defines "sufficient identification".

2011-A4267 (ACTIVE) - Bill Text download pdf 

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

                                  4267

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 2, 2011
                               ___________

Introduced  by  M.  of A. MARKEY, MAYERSOHN, WRIGHT, SCHROEDER -- Multi-
  Sponsored by -- M. of A.  COLTON, CYMBROWITZ, GLICK, GOTTFRIED,  HOOP-
  ER,  MAGEE,  McENENY,  MILLMAN,  PERRY,  PHEFFER, REILLY, SCARBOROUGH,
  WEISENBERG -- read once and referred to the Committee on Banks

AN ACT to amend the banking law,  in  relation  to  the  negotiation  of
  social security checks

  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 6-n  to
read as follows:
  S  6-N. NEGOTIATING SOCIAL SECURITY CHECKS. EVERY BANKING ORGANIZATION
OR FOREIGN BANKING CORPORATION TRANSACTING BUSINESS IN THIS STATE  SHALL
CASH  PROPERLY  ENDORSED  SOCIAL SECURITY CHECKS PRESENTED BY THE PAYEE,
UPON SUFFICIENT IDENTIFICATION, NOTWITHSTANDING THE FACT THAT SUCH PAYEE
DOES NOT MAINTAIN AN ACCOUNT WITH SUCH ORGANIZATION OR CORPORATION, UPON
PROOF THAT SUCH PAYEE IS SIXTY-TWO YEARS OF AGE OR OLDER.  FOR  PURPOSES
OF  THIS SECTION, "SUFFICIENT IDENTIFICATION" SHALL MEAN A PICTURE IDEN-
TIFICATION CARD ISSUED TO SUCH PAYEE BY THE DEPARTMENT  OF  MOTOR  VEHI-
CLES,  A SHERIFF'S DEPARTMENT OR A BANKING ORGANIZATION WHERE SUCH CHECK
IS PRESENTED FOR PAYMENT.
  S 2. This act shall take effect on the sixtieth  day  after  it  shall
have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03358-01-1

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