senate Bill S225

2013-2014 Legislative Session

Requires notice to renters of safe deposit boxes regarding fees and charges

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to banks
Jan 09, 2013 referred to banks

S225 - Details

See Assembly Version of this Bill:
A5580
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add ยง339, Bank L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S739, A7018
2009-2010: S8066, A10918

S225 - Summary

Requires notice to renters of safe deposit boxes regarding fees and charges.

S225 - Sponsor Memo

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.

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