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Assembly Bill A1861

2017-2018 Legislative Session

Relates to funds of the state

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Archive: Last Bill Status - Stricken

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2017-A1861 (ACTIVE) - Details

Law Section:
Public Authorities Law
Laws Affected:
Add §2891, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11713
2011-2012: A5947
2013-2014: A2058
2015-2016: A5798

2017-A1861 (ACTIVE) - Summary

Relates to funds of the state; prohibits certain public authorities, commissions or public benefit corporations from depositing moneys in certain banking institutions.

2017-A1861 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1861
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 13, 2017
                                ___________
 
 Introduced by M. of A. KAVANAGH -- read once and referred to the Commit-
   tee on Corporations, Authorities and Commissions
 
 AN  ACT to amend the public authorities law, in relation to funds of the
   state
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1.  The  public  authorities  law  is amended by adding a new
 section 2891 to read as follows:
   § 2891. DEPOSITS. NOTWITHSTANDING ANY OTHER PROVISIONS OF  THIS  CHAP-
 TER,  NO  PUBLIC  AUTHORITY  OR  PUBLIC BENEFIT CORPORATION CONTINUED OR
 CREATED BY THIS CHAPTER SHALL DEPOSIT ITS MONEYS IN A  BANKING  INSTITU-
 TION TO WHICH THE COMMUNITY REINVESTMENT ACT OF 1977, UNITED STATES P.L.
 95-128,  APPLIES  UNLESS  SUCH  INSTITUTION  HAS  RECEIVED  A  RECORD OF
 PERFORMANCE NO LOWER THAN SATISFACTORY.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02728-01-7

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