| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jun 08, 2016 |
reported and committed to rules |
| Jan 21, 2016 |
print number 5521a |
| Jan 21, 2016 |
amend and recommit to banks |
| Jan 06, 2016 |
referred to banks |
| May 14, 2015 |
referred to banks |
Senate Bill S5521A
2015-2016 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Rules Committee
Actions
Votes
Bill Amendments
co-Sponsors
(D) Senate District
2015-S5521 - Details
2015-S5521 - Summary
Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.
2015-S5521 - Sponsor Memo
BILL NUMBER:S5521
TITLE OF BILL:
An act to amend the banking law, in relation to including credit
unions and federal credit unions within provisions regarding banking
development district program
PURPOSE OR GENERAL IDEA OF BILL:
To include credit unions and federal credit unions within the
definition of bank or trust company for the purpose of provisions
regarding banking development districts.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Amends subdivision 5 of section 96-d of the banking law, as
added by chapter 526 of the laws of 1998, to include credit unions and
federal credit unions in the definition of a bank, trust company, or
national bank.
Section 2. Subdivision 2 of section 451 of the banking law, as added
by chapter 608 of the laws of 1996, is amended to state that for the
purposes of section 96-d of this chapter, the credit union may include
in its membership any person or organization located within a local
community, neighborhood or rural district where there is a
2015-S5521 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5521
2015-2016 Regular Sessions
I N S E N A T E
May 14, 2015
___________
Introduced by Sen. MONTGOMERY -- 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 including credit unions
and federal credit unions within provisions regarding banking develop-
ment district program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by chapter
328 of the laws of 1999, paragraph (b) as further amended by section 104
of part A of chapter 62 of the laws of 2011, is amended to read as
follows:
5. (a) Notwithstanding the provisions of subdivision two of section
two hundred thirty-seven of this chapter; for the purposes of this
section, paragraph c of subdivision two of section ten of the general
municipal law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real property
tax law, any reference to a bank, trust company or national bank shall
be deemed to include a savings bank, savings and loan association,
federal savings and loan association [or], federal savings bank, CREDIT
UNION OR FEDERAL CREDIT UNION; provided, however, that such provisions
of law do not grant a savings bank, savings and loan association, feder-
al savings and loan association [or], federal savings bank, A CREDIT
UNION OR A FEDERAL CREDIT UNION eligibility to accept municipal or
public funds or municipal or public moneys other than for the limited
purposes of the establishment of a branch in a banking development
district pursuant to this section. Any such municipal or public funds or
moneys shall be deposited only at the branch established pursuant to
this section, and any municipal funds or moneys may be deposited only by
the sponsoring municipality in which the branch and banking development
district are located; provided further that any such municipal or public
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01032-03-5
co-Sponsors
(D) 14th Senate District
(D) Senate District
2015-S5521A (ACTIVE) - Details
2015-S5521A (ACTIVE) - Summary
Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.
2015-S5521A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5521A
TITLE OF BILL :
An act to amend the banking law, in relation to including credit
unions and federal credit unions within provisions regarding banking
development district program
PURPOSE OR GENERAL IDEA OF BILL :
To include credit unions and federal credit unions within the
definition of bank or trust company for the purpose of provisions
regarding banking development districts.
SUMMARY OF SPECIFIC PROVISIONS :
Section 1. Amends subdivision 5 of section 96-d of the banking law, as
added by chapter 526 of the laws of 1998, to include credit unions and
federal credit unions in the definition of a bank, trust company, or
national bank.
Section 2. Subdivision 2 of section 451 of the banking law, as added
by chapter 608 of the laws of 1996, is amended to state that for the
purposes of section 96-d of this chapter, the credit union may include
in its membership any person or organization located within a local
community, neighborhood or rural district where there is a
2015-S5521A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5521--A
2015-2016 Regular Sessions
I N S E N A T E
May 14, 2015
___________
Introduced by Sens. MONTGOMERY, HAMILTON -- read twice and ordered
printed, and when printed to be committed to the Committee on Banks --
recommitted to the Committee on Banks in accordance with Senate Rule
6, sec. 8 -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the banking law, in relation to including credit unions
and federal credit unions within provisions regarding banking develop-
ment district program
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by chapter
328 of the laws of 1999, paragraph (b) as further amended by section 104
of part A of chapter 62 of the laws of 2011, is amended to read as
follows:
5. (a) Notwithstanding the provisions of subdivision two of section
two hundred thirty-seven of this chapter; for the purposes of this
section, paragraph c of subdivision two of section ten of the general
municipal law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real property
tax law, any reference to a bank, trust company or national bank shall
be deemed to include a savings bank, savings and loan association,
federal savings and loan association [or], federal savings bank, CREDIT
UNION OR FEDERAL CREDIT UNION; provided, however, that such provisions
of law do not grant a savings bank, savings and loan association, feder-
al savings and loan association [or], federal savings bank, A CREDIT
UNION OR A FEDERAL CREDIT UNION eligibility to accept municipal or
public funds or municipal or public moneys other than for the limited
purposes of the establishment of a branch in a banking development
district pursuant to this section. Any such municipal or public funds or
moneys shall be deposited only at the branch established pursuant to
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01032-04-6
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