| Assembly Actions - Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Jan 06, 2016 | referred to banks |
| Jun 25, 2015 | committed to rules |
| Jun 09, 2015 | advanced to third reading |
| Jun 08, 2015 | 2nd report cal. |
| Jun 03, 2015 | 1st report cal.1327 |
| Jan 30, 2015 | referred to banks |
senate Bill S2901
2015-2016 Legislative Session
Sponsored By
Hugh T. Farley
(R, C, IP) 0 Senate District
Archive: Last Bill Status - In Senate Committee Banks Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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S2901 (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Amd §650, Bank L
- Versions Introduced in Other Legislative Sessions:
-
2011-2012: S4210
2013-2014: S2931
S2901 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2901 TITLE OF BILL: An act to amend the banking law, in relation to violations by unlicensed transmitters of money PURPOSE: To raise the criminal penalties for unlicensed money transmitter activities in those situations where the person knows that the funds involved are the proceeds of criminal conduct SUMMARY OF PROVISIONS: This bill amends Section 650(2) of the Banking Law to separate the current Class E felony penalties for the unlicensed transmission of money into two categories: 1) the existing violation regarding the unlicensed transmission of funds in excess of a specified threshold would continue to be a Class E felony; and 2) the existing violation regarding the unlicensed transmission of funds where the transmitter knows that such funds are the proceeds of any criminal conduct would be raised from a Class E felony to a Class D felony. JUSTIFICATION:
S2901 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2901
2015-2016 Regular Sessions
I N S E N A T E
January 30, 2015
___________
Introduced by Sen. FARLEY -- 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 violations by unlicensed
transmitters of money
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subdivision 2 of section 650 of the banking law, as
amended by chapter 543 of the laws of 1990, is amended to read as
follows:
2. a. Any person who either (1) engages in the business of receiving
money for transmission or transmitting the same or (2) sells or issues
New York instruments or New York traveler's checks as those terms are
defined by section six hundred fifty-three of this chapter, without a
license therefor obtained from the superintendent as provided in this
article, shall be guilty of a [Class] CLASS A misdemeanor.
b. Any person who violates paragraph a of this subdivision and in the
course of that violation:
(1) knowingly receives or agrees to receive for transmission from one
or more individuals a total of ten thousand dollars or more in a single
transaction, a total of twenty-five thousand dollars or more during a
period of thirty days or less, or a total of two hundred fifty thousand
dollars or more during a period of one year or less; or
(2) knowingly sells or issues New York instruments or New York travel-
er's checks to one or more individuals totaling ten thousand dollars or
more in a single transaction, a total of twenty-five thousand dollars or
more during a period of thirty days or less, or a total of two hundred
fifty thousand dollars or more during a period of one year or less SHALL
BE GUILTY OF A CLASS E FELONY.[; or
(3)] C. ANY PERSON WHO VIOLATES THE PROVISIONS OF PARAGRAPH A OF THIS
SUBDIVISION AND IN THE COURSE OF SUCH VIOLATION:
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD07710-02-5
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