Assembly Bill A9037A

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 - 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

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Votes

Bill Amendments

co-Sponsors

multi-Sponsors

2013-A9037 - Details

See Senate Version of this Bill:
S6805
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

2013-A9037 - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

2013-A9037 - Bill Text download pdf 

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

                                  9037

                          I N  A S S E M B L Y

                             March 10, 2014
                               ___________

Introduced  by  M.  of  A. ROBINSON, RAIA, WEPRIN, MOSLEY, MAGEE, PERRY,
  FAHY, RODRIGUEZ -- Multi-Sponsored by -- M.  of  A.  ABBATE,  KELLNER,
  MILLER, ROSA, RYAN -- read once and referred 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.

co-Sponsors

multi-Sponsors

2013-A9037A (ACTIVE) - Details

See Senate Version of this Bill:
S6805
Law Section:
Banking Law
Laws Affected:
Add §9-v, amd §§96, 234, 383 & 454, Bank L

2013-A9037A (ACTIVE) - Summary

Authorizes financial institutions to conduct savings promotion prize giveaways.

2013-A9037A (ACTIVE) - Bill Text download pdf 

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

                                 9037--A
                                                        Cal. No. 513

                          I N  A S S E M B L Y

                             March 10, 2014
                               ___________

Introduced  by  M.  of  A. ROBINSON, RAIA, WEPRIN, MOSLEY, MAGEE, PERRY,
  FAHY, RODRIGUEZ,  MILLER,  PEOPLES-STOKES,  CAMARA,  OTIS,  GOTTFRIED,
  ROZIC  -- Multi-Sponsored by -- M. of A. ABBATE, GALEF, KELLNER, ROSA,
  RYAN -- read once and referred to the Committee on Banks -- passed  by
  Assembly  and  delivered to the Senate, recalled from the Senate, vote
  reconsidered, bill amended, ordered reprinted, retaining its place  on
  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.

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