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Assembly Bill A6585

2013-2014 Legislative Session

Relates to the attorney general's investigation and commencement of actions relating to fraudulent practices alleged to have damaged a public retirement system

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Archive: Last Bill Status - In Assembly Committee

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2013-A6585 (ACTIVE) - Details

See Senate Version of this Bill:
S965
Current Committee:
Assembly Codes
Law Section:
Retirement and Social Security Law
Laws Affected:
Amd §14, R & SS L; amd §353, Gen Bus L
Versions Introduced in 2011-2012 Legislative Session:
A9627, S7465

2013-A6585 (ACTIVE) - Summary

Relates to the attorney general's investigation and commencement of actions relating to fraudulent practices alleged to have damaged a public retirement system.

2013-A6585 (ACTIVE) - Bill Text download pdf 

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

                                  6585

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                             April 10, 2013
                               ___________

Introduced by M. of A. ABBATE -- read once and referred to the Committee
  on Codes

AN  ACT  to amend the retirement and social security law and the general
  business law, in relation to the attorney general's investigation  and
  commencement  of  actions  relating to fraudulent practices alleged to
  have damaged a public retirement system

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

  Section  1.    Section 14 of the retirement and social security law is
amended to read as follows:
  S 14.  Legal adviser.  The attorney-general of the state shall be  the
legal  adviser  of  the retirement system AND SHALL RECEIVE REQUESTS FOR
INVESTIGATION  AND  LITIGATION  PURSUANT  TO   SECTION   THREE   HUNDRED
FIFTY-THREE OF THE GENERAL BUSINESS LAW.
  S  2.  Subdivision  3  of  section 353 of the general business law, as
added by chapter 559 of the laws of 1976, is amended to read as follows:
  3. (A) Upon a showing by the attorney general that a fraudulent  prac-
tice  as  defined  by  this  article  has occurred, he may include in an
action under this article an application to direct  restitution  of  any
moneys  or  property obtained directly or indirectly by any such fraudu-
lent practice, PROVIDED HOWEVER, THAT UPON THE WRITTEN  REQUEST  OF  THE
TRUSTEE  OF  THE  NEW YORK STATE AND LOCAL EMPLOYEES' RETIREMENT SYSTEM,
THE NEW YORK STATE AND LOCAL POLICE AND FIRE RETIREMENT  SYSTEM  OR  THE
TRUSTEE  OF ANY OTHER PUBLIC RETIREMENT SYSTEM AS DEFINED IN SUBDIVISION
A OF SECTION EIGHT HUNDRED OF THE RETIREMENT AND  SOCIAL  SECURITY  LAW,
ALLEGING  THAT  SUCH  PUBLIC  RETIREMENT SYSTEM HAS BEEN DAMAGED BY SUCH
FRAUDULENT PRACTICES, THE ATTORNEY GENERAL SHALL,  WITHIN  A  REASONABLE
TIME  PERIOD,  INVESTIGATE  THE  FACTS ALLEGED IN THE REQUEST AND, WHERE
APPROPRIATE, COMMENCE AN ACTION UNDER THIS ARTICLE  FOR  RESTITUTION  TO
SUCH PUBLIC RETIREMENT SYSTEM OF ANY MONEYS OR PROPERTY OBTAINED DIRECT-
LY  OR INDIRECTLY BY ANY SUCH FRAUDULENT PRACTICE. ANY FINAL JUDGMENT OR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05295-01-3

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