|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|
senate Bill S2493
Archive: Last Bill Status - STRICKEN
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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:
S2493 - Summary
Defines certain terms related to budget planners and regulates the activities of budget planners.
S2493 - Sponsor Memo
BILL NUMBER:S2493 TITLE OF BILL: 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 PURPOSE: The purpose of the bill is to provide clarity with regard to fees paid by debtors to budget planners; brings the New York budget planning statute in line with the majority of other state with respect to non-profit and for-profit providers; and gives the attorney general enforcement powers with respect to violations of the statute. SUMMARY OF PROVISIONS: Section one of the bill amends the general business law to make a clarification with regard to payments made by debtors and repeals the statutory language that allows only not-for-profit corporations to provide budget planning services. Section two of the bill amends the general business law to make violations of the article punishable by a class A misdemeanor as provided in the penal law and gives the attorney general the authority to make an application to a court or justice to issue an injunction to enjoin and restrain any violations of the article. The section also allows the court or justice to impose a civil penalty of not more than $500 per contract for a violation of the section.
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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