Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 13, 2015 |
signed chap.153 |
Aug 03, 2015 |
delivered to governor |
May 19, 2015 |
returned to senate passed assembly |
May 13, 2015 |
ordered to third reading cal.291 substituted for a1348 |
Feb 09, 2015 |
referred to banks delivered to assembly passed senate |
Jan 21, 2015 |
ordered to third reading cal.34 |
Jan 14, 2015 |
referred to rules |
Senate Bill S1808
Signed By Governor2015-2016 Legislative Session
Sponsored By
(R, C) 53rd Senate District
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
Actions
Votes
2015-S1808 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A1348
- Law Section:
- Banking Law
- Laws Affected:
- Amd ยงยง451-a & 454, Bank L
2015-S1808 (ACTIVE) - Sponsor Memo
BILL NUMBER:S1808 TITLE OF BILL: An act to amend the banking law, in relation to qualifications for membership and general powers of credit unions PURPOSE OR GENERAL IDEA OF BILL: This bill would provide a chapter amendment to chapter 502 of the laws of 2014, to clarify provisions enacted by such chapter, relating to qualifications for membership and general investment powers of state chartered credit unions. SUMMARY OF SPECIFIC PROVISIONS: This bill would specifically: 1. Amend section 451-a of the banking law to focus membership qualifications of state chartered credit unions with respect to geography and organizations, and to provide that in considering an application for expanded membership, the superintendent must consider the state chartered credit union's record and history of serving underserved areas, as well as low and moderate-income individuals within the communities it currently services, if any, and its commitments to serve underserved areas, as well as low and moderate-income individuals in the communities to be served, and this amendment would further authorize the superintendent to impose such
2015-S1808 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1808 2015-2016 Regular Sessions I N S E N A T E January 14, 2015 ___________ Introduced by Sen. GRIFFO -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the banking law, in relation to qualifications for membership and general powers of credit unions THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 451-a of the banking law, as added by chapter 502 of the laws of 2014, is amended to read as follows: S 451-a. Qualifications for membership. 1. Subject to approval of the superintendent, the membership of a credit union shall consist of persons within the credit union's field of membership who have been duly admitted members. Subject to the approval of the superintendent, a credit union's field of membership may include one or more of the following categories: (a) Persons: (1) within the same occupation or from multiple groups each represent- ing a different occupation; (2) within the same association or [interest or] from multiple groups each representing a different association [or interest]; (3) who reside, work, worship or attend school within a well-defined identifiable neighborhood, community or rural district and who, in the judgment of the superintendent, have such a community of interest as will ensure proper administration. For purposes of this section a "well- defined identifiable neighborhood, community or rural district" [means] MAY CONSIST OF one or more adjacent precincts, districts, cities[,] OR counties [or other boundaries defined by the state or a unit of govern- ment or by a state or government agency]; or (4) within a combination of these three categories described in this subdivision; or (b) [Businesses, associations or organizations] ORGANIZATIONS located within a well-defined [geographic area] IDENTIFIABLE NEIGHBORHOOD, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07570-01-5
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