|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to banks|
|Jan 24, 2013||referred to banks|
senate Bill S2873
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2873 - Details
S2873 - Summary
Relates to the imposition of fees for investigations and applications for banking institutions.
S2873 - Sponsor Memo
BILL NUMBER:S2873 TITLE OF BILL: An act to amend the banking law, in relation to the imposition of certain fees PURPOSE: To help encourage smaller financial institutions to consider converting to a state charter by establishing a lower application fee. SUMMARY OF PROVISIONS: Section 18-a of the Banking Law is amended to establish a lower applica- tion fee for smaller banks, thrifts and credit unions which are convert- ing from a federal charter to a state charter. Section 34 of the Banking Law is amended to provide that the Superinten- dent of the Department of Financial Services shall set the fee for service of process involving foreign banks, provided however that such fee shall not exceed the fee level established by the Legislature for service of process upon the Department of State pursuant to section l04-A(c) of the Business Corporation Law. The bill also provides that no fee shall be collected for process served on behalf of a municipality. JUSTIFICATION: Section 18-a of the Banking Law was added in 2005 to set new fee levels for applications by banking institutions and financial service compa-
S2873 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2873 2013-2014 Regular Sessions I N S E N A T E January 24, 2013 ___________ Introduced by Sen. SMITH -- 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 the imposition of certain fees THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 6 of section 18-a of the banking law is renum- bered subdivision 7 and a new subdivision 6 is added to read as follows: 6. FOR ANY FEDERAL BANK, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION WHICH HAS LESS THAN ONE HUNDRED MILLION DOLLARS IN ASSETS AND WHICH IS MAKING AN APPLICATION TO CONVERT INTO A STATE BANK, SAVINGS BANK, SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION, THE INVESTIGATION FEE FOR ANY SUCH APPLICATION SHALL BE ONE THOUSAND DOLLARS. S 2. Section 34 of the banking law, as amended by chapter 310 of the laws of 1962, is amended to read as follows: S 34. Superintendent as attorney to accept service of process. When- ever pursuant to any provision of this chapter, the superintendent shall have been duly appointed attorney to receive service of process for any individual, partnership, unincorporated association or corporation, such service shall be made by personally delivering duplicate copies of the process to and leaving them with the superintendent or any deputy super- intendent. Service of process so made shall be deemed to have been made within the territorial jurisdiction of any court in this state. The superintendent or deputy superintendent shall forthwith forward by mail, postage prepaid, a copy of every process served upon him OR HER in accordance with this section, directed to the person last designated by such individual, partnership, unincorporated association or corporation in accordance with the provisions of this chapter to receive such proc- ess on his OR HER or its behalf. For each service of process upon the superintendent or a deputy, he OR SHE shall collect [the sum of two dollars] A FEE AS SET BY THE SUPERINTENDENT, PROVIDED THAT SUCH FEE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07212-01-3
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