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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

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.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions
Votes

Bill Amendments

2013-S6805 - Details

See Assembly Version of this Bill:
A9037
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

2013-S6805 - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

2013-S6805 - Sponsor Memo

2013-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

2013-S6805A - Details

See Assembly Version of this Bill:
A9037
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

2013-S6805A - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

2013-S6805A - Sponsor Memo

2013-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

2013-S6805B (ACTIVE) - Details

See Assembly Version of this Bill:
A9037
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

2013-S6805B (ACTIVE) - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

2013-S6805B (ACTIVE) - Sponsor Memo

2013-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 is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. 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.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.