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Assembly Bill A5399

2013-2014 Legislative Session

Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license

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Archive: Last Bill Status - In Assembly Committee

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2013-A5399 (ACTIVE) - Details

See Senate Version of this Bill:
S715
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง373, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A6571, S3361
2015-2016: A3176, S3618
2017-2018: A1940, S2419
2019-2020: S3838
2021-2022: S4583
2023-2024: S4619
2025-2026: S6659

2013-A5399 (ACTIVE) - Summary

Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license; makes such violation a class E felony; provides for a fine of $2,500 for each transaction.

2013-A5399 (ACTIVE) - Bill Text download pdf 

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

                                  5399

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 25, 2013
                               ___________

Introduced  by  M. of A. PEOPLES-STOKES -- read once and referred to the
  Committee on Banks

AN ACT to amend the banking law, in relation to increasing the penalties
  for individuals or companies who engage in  the  business  of  cashing
  checks, drafts or money orders for consideration without a license

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

  Section 1. Subdivision 5 of section 373 of the banking law,  as  added
by chapter 235 of the laws of 2008, is amended to read as follows:
  5. Notwithstanding the provisions of subdivision four of this section,
any  person,  partnership,  association  or  corporation and the several
members, officers, directors, agents and  employees  thereof  who  shall
violate  the  provisions  of  subdivision  one  of section three hundred
sixty-seven of this article shall be guilty of a class [A misdemeanor] E
FELONY AND SHALL BE PUNISHABLE BY A FINE OF TWO  THOUSAND  FIVE  HUNDRED
DOLLARS FOR EACH TRANSACTION MADE IN VIOLATION OF SUCH SUBDIVISION.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04601-01-3

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