|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to banks|
|Jan 09, 2013||referred to banks|
senate Bill S225
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S225 - Details
S225 - Sponsor Memo
BILL NUMBER:S225 TITLE OF BILL: An act to amend the banking law, in relation to requiring notice to renters of safe deposit boxes regarding fees and charges PURPOSE OR GENERAL IDEA OF BILL: To protect renters of safety deposit boxes from inappropriate rental fees and applicable charges imposed by banking organizations or safe deposit box companies. SUMMARY OF SPECIFIC PROVISIONS: Subdivision 1 requires any banking organization or safe deposit company which offers safe deposit boxes to provide a schedule of all fees and charges applicable to the rental of the safe deposit box in the rental agreement Such fees and charges will be approved by the superintendent. Subdivision 2 requires any banking organization or safe deposit company which offers safe deposit boxes for rent to include, in the annual report to the superintendent, a schedule of all fees and charges imposed on the lessee. Subdivision 3 states that no fees or charges can be imposed on a lessee when an act of God, common disaster, or emergency situation,
S225 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 225 2013-2014 Regular Sessions I N S E N A T E (PREFILED) January 9, 2013 ___________ Introduced by Sen. SQUADRON -- 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 requiring notice to renters of safe deposit boxes regarding fees and charges 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 339 to read as follows: S 339. NOTICE TO RENTERS OF SAFE DEPOSIT BOXES REGARDING FEES AND CHARGES. 1. ANY BANKING ORGANIZATION OR SAFE DEPOSIT COMPANY WHICH OFFERS SAFE DEPOSIT BOXES FOR RENT SHALL PROVIDE IN THE RENTAL AGREEMENT REQUIRED PURSUANT TO SECTION THREE HUNDRED THIRTY-EIGHT OF THIS ARTICLE A SCHEDULE OF ALL FEES AND CHARGES APPLICABLE TO THE RENTAL OF SUCH SAFE DEPOSIT BOX IN AT LEAST FOURTEEN POINT TYPE. ALL SUCH FEES AND CHARGES IMPOSED UPON LESSEES OF SAFE DEPOSIT BOXES SHALL BE DEEMED REASONABLE BY THE SUPERINTENDENT. 2. ANY BANKING ORGANIZATION OR SAFE DEPOSIT COMPANY WHICH OFFERS SAFE DEPOSIT BOXES FOR RENT SHALL INCLUDE IN ITS ANNUAL REPORT TO THE SUPER- INTENDENT REQUIRED PURSUANT TO SECTION THREE HUNDRED TWENTY-NINE OF THIS CHAPTER A SCHEDULE OF ALL FEES AND CHARGES IMPOSED ON LESSEES FOR THE RENTAL OF SAFE DEPOSIT BOXES. 3. NO RENTAL AGREEMENT FOR THE RENTAL OF A SAFE DEPOSIT BOX SHALL IMPOSE ANY FEE OR CHARGE UPON A LESSEE, OR ANYONE WHO WOULD OTHERWISE HAVE ACCESS TO SUCH SAFE DEPOSIT BOX, FOR GAINING ACCESS TO SUCH SAFE DEPOSIT BOX WHERE AN ACT OF GOD, COMMON DISASTER OR EMERGENCY SITUATION HAS OCCURRED RENDERING THE LESSEE UNABLE TO ACCESS SUCH SAFE DEPOSIT BOX. THE SUPERINTENDENT SHALL PROMULGATE ANY RULES OR REGULATIONS NECESSARY FOR CARRYING OUT THE PROVISIONS OF THIS SECTION. S 2. This act shall take effect immediately and shall apply to all safe deposit box rental agreements entered into on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.
By contributing or voting you agree to the Terms of Participation and verify you are over 13.