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Senate Bill S6240

2015-2016 Legislative Session

Prohibits banks from holding for deposit state issued check

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Archive: Last Bill Status - In Senate Committee Banks Committee

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2015-S6240 (ACTIVE) - Details

See Assembly Version of this Bill:
A3228
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add ยง9-e, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3414
2011-2012: A2759
2013-2014: A4089
2017-2018: S2655, A3569
2019-2020: S4935, A3554
2021-2022: A1699
2023-2024: A4555
2025-2026: A7502

2015-S6240 (ACTIVE) - Summary

Prohibits banks from holding for deposit the funds from checks issued by the state.

2015-S6240 (ACTIVE) - Sponsor Memo

2015-S6240 (ACTIVE) - Bill Text download pdf 

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

                                  6240

                            I N  S E N A T E

                               (PREFILED)

                             January 6, 2016
                               ___________

Introduced  by Sen. HAMILTON -- 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  the  deposit  of  state
  issued checks

  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-e  to
read as follows:
  S  9-E.  DEPOSIT  OF  STATE  ISSUED CHECKS. NO BANKING INSTITUTION, AS
DEFINED IN SECTION NINE-F OF THIS ARTICLE, SHALL HOLD  FOR  DEPOSIT  THE
FUNDS FROM A CHECK ISSUED BY THE STATE.
  S  2.  This  act shall take effect on the thirtieth day after it shall
have become a law.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05363-01-5

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