senate Bill S6805B

Signed By Governor
2013-2014 Legislative Session

Authorizes financial institutions to conduct savings promotion prize giveaways

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9037 - Signed by Governor


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

do you support this legislation?

You must fill out the form below in order to support or oppose this bill. X

You must login or fill out the fields below for the senator to have an accurate account of the support or opposition to this bill.

Your valid home address is used to determine which NY State Senator Represents you.
Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.
Use this box to enter a message to your senator.

Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Sep 23, 2014 signed chap.370
Sep 11, 2014 delivered to governor
May 28, 2014 returned to assembly
passed senate
May 20, 2014 3rd reading cal.597
substituted for s6805b
May 20, 2014 substituted by a9037a
May 13, 2014 advanced to third reading
amended 6805b
May 12, 2014 2nd report cal.
May 07, 2014 1st report cal.597
Apr 28, 2014 print number 6805a
amend and recommit to banks
Mar 12, 2014 referred to banks

S6805 - Details

See Assembly Version of this Bill:
A9037A
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

S6805 - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

S6805 - Sponsor Memo

S6805 - Bill Text download pdf

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

                                  6805

                            I N  S E N A T E

                             March 12, 2014
                               ___________

Introduced  by  Sen.  LANZA  -- 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  authorizing  financial
  institutions to conduct savings promotion prize giveaways

  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  9-v  to
read as follows:
  S  9-V.    SAVINGS  PROMOTION PRIZE GIVEAWAY.   A BANKING ORGANIZATION
ORGANIZED UNDER OR SUBJECT TO THE PROVISIONS OF  THIS  CHAPTER,  FEDERAL
CREDIT  UNION,  FEDERAL  SAVINGS  BANK, FEDERAL SAVINGS AND LOAN ASSOCI-
ATION, OR NATIONAL BANK ASSOCIATION MAY CONDUCT A SAVINGS  PROMOTION  IN
ACCORDANCE  WITH THE PROVISIONS OF THIS SECTION, TO THE EXTENT IT IS NOT
PROHIBITED BY FEDERAL LAW OR REGULATION.
  1. DEFINITIONS. AS USED IN THIS SECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  A. THE TERM "SAVINGS PROMOTION" MEANS A CONTEST OR PROMOTION SPONSORED
BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL  SAVINGS  BANK,
FEDERAL  SAVINGS  AND  LOAN ASSOCIATION, OR NATIONAL BANK ASSOCIATION IN
WHICH A CHANCE OF WINNING DESIGNATED PRIZES IS OBTAINED  BY  ITS  DEPOS-
ITORS  FOR  THE PURPOSES OF ENCOURAGING DEPOSITORS TO BUILD AND MAINTAIN
SAVINGS DEPOSITS.
  B. THE TERM  "QUALIFYING  ACCOUNT"  MEANS  A  SAVINGS  ACCOUNT,  SHARE
ACCOUNT,  SHARE CERTIFICATE, OR OTHER SAVINGS PRODUCT OR PROGRAM OFFERED
BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL  SAVINGS  BANK,
FEDERAL  SAVINGS  AND  LOAN  ASSOCIATION,  OR  NATIONAL BANK ASSOCIATION
THROUGH WHICH DEPOSITORS MAY OBTAIN CHANCES TO WIN PRIZES IN  A  SAVINGS
PROMOTION.
  C.  THE  TERM  "NON-QUALIFYING ACCOUNT" MEANS A SAVINGS ACCOUNT, SHARE
ACCOUNT, CERTIFICATE OF DEPOSIT, OR OTHER  SAVINGS  PRODUCT  OR  PROGRAM
OFFERED BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL SAVINGS
BANK, FEDERAL SAVINGS AND LOAN ASSOCIATION, OR NATIONAL BANK ASSOCIATION
THAT IS NOT A QUALIFYING ACCOUNT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13805-02-4

Co-Sponsors

S6805A - Details

See Assembly Version of this Bill:
A9037A
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

S6805A - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

S6805A - Sponsor Memo

S6805A - Bill Text download pdf

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

                                 6805--A

                            I N  S E N A T E

                             March 12, 2014
                               ___________

Introduced  by  Sen.  LANZA  -- read twice and ordered printed, and when
  printed to be  committed  to  the  Committee  on  Banks  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend the banking law, in relation to authorizing financial
  institutions to conduct savings promotion prize giveaways

  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 9-v to
read as follows:
  S 9-V.   SAVINGS PROMOTION PRIZE GIVEAWAY.    A  BANKING  ORGANIZATION
ORGANIZED  UNDER  OR  SUBJECT TO THE PROVISIONS OF THIS CHAPTER, FEDERAL
CREDIT UNION, FEDERAL SAVINGS BANK, FEDERAL  SAVINGS  AND  LOAN  ASSOCI-
ATION,  OR  NATIONAL BANK ASSOCIATION MAY CONDUCT A SAVINGS PROMOTION IN
ACCORDANCE WITH THE PROVISIONS OF THIS SECTION, TO THE EXTENT IT IS  NOT
PROHIBITED BY FEDERAL LAW OR REGULATION.
  1. DEFINITIONS. AS USED IN THIS SECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  A. THE TERM "SAVINGS PROMOTION" MEANS A CONTEST OR PROMOTION SPONSORED
BY  A  BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL SAVINGS BANK,
FEDERAL SAVINGS AND LOAN ASSOCIATION, OR NATIONAL  BANK  ASSOCIATION  IN
WHICH  A  CHANCE  OF WINNING DESIGNATED PRIZES IS OBTAINED BY ITS DEPOS-
ITORS FOR THE PURPOSES OF ENCOURAGING DEPOSITORS TO BUILD  AND  MAINTAIN
SAVINGS DEPOSITS.
  B.  THE  TERM  "QUALIFYING  ACCOUNT"  MEANS  A  SAVINGS ACCOUNT, SHARE
ACCOUNT, SHARE CERTIFICATE, OR OTHER SAVINGS PRODUCT OR PROGRAM  OFFERED
BY  A  BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL SAVINGS BANK,
FEDERAL SAVINGS AND  LOAN  ASSOCIATION,  OR  NATIONAL  BANK  ASSOCIATION
THROUGH  WHICH  DEPOSITORS MAY OBTAIN CHANCES TO WIN PRIZES IN A SAVINGS
PROMOTION.
  C. THE TERM "NON-QUALIFYING ACCOUNT" MEANS A  SAVINGS  ACCOUNT,  SHARE
ACCOUNT,  CERTIFICATE  OF  DEPOSIT,  OR OTHER SAVINGS PRODUCT OR PROGRAM
OFFERED BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL SAVINGS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13805-04-4

Co-Sponsors

S6805B (ACTIVE) - Details

See Assembly Version of this Bill:
A9037A
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

S6805B (ACTIVE) - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

S6805B (ACTIVE) - Sponsor Memo

S6805B (ACTIVE) - Bill Text download pdf

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

                                 6805--B
    Cal. No. 597

                            I N  S E N A T E

                             March 12, 2014
                               ___________

Introduced  by  Sens.  LANZA, KENNEDY, RITCHIE -- read twice and ordered
  printed, and when printed to be committed to the Committee on Banks --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted  to said committee -- reported favorably from said commit-
  tee, ordered to first and second report,  amended  on  second  report,
  ordered  to a third reading, and to be reprinted as amended, retaining
  its place in the order of third reading

AN ACT to amend the banking law, in relation  to  authorizing  financial
  institutions to conduct savings promotion prize giveaways

  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  9-v  to
read as follows:
  S  9-V.    SAVINGS  PROMOTION PRIZE GIVEAWAY.   A BANKING ORGANIZATION
ORGANIZED UNDER OR SUBJECT TO THE PROVISIONS OF  THIS  CHAPTER,  FEDERAL
CREDIT  UNION,  FEDERAL  SAVINGS  BANK, FEDERAL SAVINGS AND LOAN ASSOCI-
ATION, OR NATIONAL BANK ASSOCIATION MAY CONDUCT A SAVINGS  PROMOTION  IN
ACCORDANCE  WITH THE PROVISIONS OF THIS SECTION, TO THE EXTENT IT IS NOT
PROHIBITED BY FEDERAL LAW OR REGULATION.
  1. DEFINITIONS. AS USED IN THIS SECTION THE FOLLOWING TERMS SHALL HAVE
THE FOLLOWING MEANINGS:
  A. THE TERM "SAVINGS PROMOTION" MEANS A CONTEST OR PROMOTION SPONSORED
BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL  SAVINGS  BANK,
FEDERAL  SAVINGS  AND  LOAN ASSOCIATION, OR NATIONAL BANK ASSOCIATION IN
WHICH A CHANCE OF WINNING DESIGNATED PRIZES IS OBTAINED  BY  ITS  DEPOS-
ITORS  FOR  THE PURPOSES OF ENCOURAGING DEPOSITORS TO BUILD AND MAINTAIN
SAVINGS DEPOSITS.
  B. THE TERM  "QUALIFYING  ACCOUNT"  MEANS  A  SAVINGS  ACCOUNT,  SHARE
ACCOUNT,  SHARE CERTIFICATE, OR OTHER SAVINGS PRODUCT OR PROGRAM OFFERED
BY A BANKING ORGANIZATION, FEDERAL CREDIT UNION, FEDERAL  SAVINGS  BANK,
FEDERAL  SAVINGS  AND  LOAN  ASSOCIATION,  OR  NATIONAL BANK ASSOCIATION
THROUGH WHICH DEPOSITORS MAY OBTAIN CHANCES TO WIN PRIZES IN  A  SAVINGS
PROMOTION.

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

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.