senate Bill S2493

2013-2014 Legislative Session

Defines certain terms related to budget planners and regulates the activities of budget planners

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Archive: Last Bill Status - STRICKEN


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 03, 2014 recommit, enacting clause stricken
Jan 08, 2014 referred to consumer protection
Jun 21, 2013 committed to rules
Mar 04, 2013 advanced to third reading
Feb 28, 2013 2nd report cal.
Feb 27, 2013 1st report cal.108
Jan 17, 2013 referred to consumer protection

Votes

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Feb 27, 2013 - Consumer Protection committee Vote

S2493
10
0
committee
10
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Consumer Protection committee vote details

Consumer Protection Committee Vote: Feb 27, 2013

aye wr (1)

Co-Sponsors

S2493 - Details

Current Committee:
Law Section:
General Business Law
Laws Affected:
Amd §§455 & 457, Gen Bus L; amd §§579, 584-a, 584-b & 585, Bank L
Versions Introduced in 2011-2012 Legislative Session:
S5215C

S2493 - Summary

Defines certain terms related to budget planners and regulates the activities of budget planners.

S2493 - Sponsor Memo

S2493 - Bill Text download pdf

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

                                  2493

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 17, 2013
                               ___________

Introduced  by  Sens.  GRIFFO, ZELDIN -- read twice and ordered printed,
  and when  printed  to  be  committed  to  the  Committee  on  Consumer
  Protection

AN  ACT  to  amend  the  general  business  law  and the banking law, in
  relation to defining terms related to budget planning  and  regulating
  the activities of budget planners

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

  Section 1. Section 455 of the general  business  law,  as  amended  by
chapter  629  of  the  laws  of 2002, subdivisions 1 and 4 as amended by
chapter 456 of the laws of 2006, is amended to read as follows:
  S 455. Definitions. 1. Budget planning, as used in this article, means
the making of a contract between a person or entity engaged in the busi-
ness of budget planning with a particular debtor whereby:
  (i) the debtor agrees to pay a sum or sums of money in any  manner  or
form and the person or entity engaged in the business of budget planning
distributes, or supervises, coordinates or controls the distribution of,
or  has  a  contractual  relationship with another person or entity that
distributes, or supervises, coordinates or  controls  such  distribution
of,  the  same  among  certain  specified creditors in accordance with a
PERIODIC PAYMENT plan agreed upon BY THE DEBTOR'S CREDITORS AT  OR  NEAR
THE TIME THE CONTRACT IS ENTERED; and
  (ii)  the debtor agrees to pay to such person or entity, or such other
person  or  entity  that  distributes,  or  supervises,  coordinates  or
controls  such  distribution  of,  a  sum or sums of money, any valuable
consideration for such services or for any other  services  rendered  in
connection  therewith.    For  the purposes of this article, a person or
entity shall be considered as engaged in the business of budget planning
in New York, and subject to this article and  the  licensing  and  other
requirements  of  article twelve-C of the banking law, if such person or
entity solicits budget planning  business  within  this  state  and,  in

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06471-01-3

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