senate Bill S5016

2013-2014 Legislative Session

Relates to credit unions

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 (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 07, 2014 reported and committed to finance
Jan 08, 2014 referred to banks
May 29, 2013 reported and committed to finance
May 06, 2013 referred to banks

Votes

view votes

May 7, 2014 - Banks committee Vote

S5016
14
0
committee
14
Aye
0
Nay
5
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Banks committee vote details

May 29, 2013 - Banks committee Vote

S5016
13
0
committee
13
Aye
0
Nay
5
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Banks committee vote details

Co-Sponsors

S5016 - Details

See Assembly Version of this Bill:
A7198
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add Art 2-D §§89 - 91, add §454-a, Bank L; amd §§98-a & 105, St Fin L

S5016 - Summary

Relates to credit unions.

S5016 - Sponsor Memo

S5016 - Bill Text download pdf

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

                                  5016

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               May 6, 2013
                               ___________

Introduced  by  Sen. MAZIARZ -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks

AN ACT to amend the banking law and the state finance law,  in  relation
  to credit unions

  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 article  2-D  to
read as follows:
                               ARTICLE 2-D
                      CREDIT UNION DEPOSIT PROGRAM
SECTION 89. CREDIT UNION DEPOSIT PROGRAM; PURPOSE.
        90. ELIGIBILITY.
        91. DEPOSITS.
  S  89.  CREDIT  UNION  DEPOSIT PROGRAM; PURPOSE. IN RECOGNITION OF THE
ECONOMIC BENEFITS AND STIMULUS WHICH RESULT FROM THE PLACEMENT OF DEPOS-
ITS IN LOCAL CREDIT UNIONS, THE CREDIT UNION DEPOSIT PROGRAM  IS  HEREBY
CREATED TO AUTHORIZE AND ENCOURAGE THE STATE COMPTROLLER AND THE COMMIS-
SIONER  OF  TAXATION AND FINANCE TO DEPOSIT A PORTION OF THE FUNDS UNDER
THEIR CONTROL INTO CREDIT UNIONS.
  S 90. ELIGIBILITY. 1. TO BE ELIGIBLE TO RECEIVE DEPOSITS, OR TO  RENEW
EXISTING  DEPOSITS  UNDER THIS PROGRAM, A CREDIT UNION MUST BE CHARTERED
UNDER THE PROVISIONS OF THIS CHAPTER AND MUST HAVE A CURRENT EXAMINATION
RATING OF SATISFACTORY OR BETTER. THE SUPERINTENDENT SHALL, IF REQUESTED
BY THE STATE COMPTROLLER OR THE COMMISSIONER OF  TAXATION  AND  FINANCE,
CONFIRM  WHETHER  A PARTICULAR CREDIT UNION MEETS THE CRITERIA SPECIFIED
IN THIS SECTION.
  2. A FEDERAL CREDIT UNION MAY ALSO BE ELIGIBLE TO RECEIVE DEPOSITS, OR
TO RENEW EXISTING DEPOSITS, UNDER THIS PROGRAM  IF:  (A)  ITS  PRINCIPAL
OFFICE IS LOCATED IN THIS STATE; (B) IT HAS A CURRENT EXAMINATION RATING
OF  SATISFACTORY  OR  BETTER;  AND  (C) IT MEETS ANY ADDITIONAL CRITERIA
ESTABLISHED BY THE COMPTROLLER AND  THE  COMMISSIONER  OF  TAXATION  AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10390-01-3

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