Senate Bill S3758

Signed By Governor
2017-2018 Legislative Session

Relates to bank organization examinations

download bill text pdf

Sponsored By

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

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Bill Amendments

co-Sponsors

2017-S3758 - Details

Law Section:
Banking Law
Laws Affected:
Amd §36, Bank L
Versions Introduced in 2015-2016 Legislative Session:
S5296

2017-S3758 - Summary

Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.

2017-S3758 - Sponsor Memo

2017-S3758 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3758
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2017
                                ___________
 
 Introduced  by Sens. HAMILTON, SAVINO -- 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 examinations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Paragraph (b) of subdivision 2 of section 36 of the banking
 law,  as  amended by chapter 464 of the laws of 2006, is amended to read
 as follows:
   (b) the superintendent [may] SHALL  extend  the  examination  interval
 from  at least once in each calendar year to at least once in each eigh-
 teen month period if the banking organization to be examined:
   (1) has total assets of less than [two hundred fifty million  dollars]
 ONE BILLION DOLLARS;
   (2)  is  well-capitalized,  which  for  purposes  of this paragraph is
 defined as having capital which significantly exceeds the required mini-
 mum level for each relevant capital measure or as having such capital as
 the superintendent shall otherwise define by regulation;
   (3) at its most recent examination, was found to be  well-managed  and
 its composite condition was found to be outstanding or good;
   (4)  is  not  currently  subject to a formal enforcement proceeding or
 order by the superintendent, the federal deposit  insurance  corporation
 or any other federal banking agency; and
   (5) has not been acquired by any person during the twelve month period
 in which an examination would be required but for this paragraph, and
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08454-01-7

co-Sponsors

2017-S3758A (ACTIVE) - Details

Law Section:
Banking Law
Laws Affected:
Amd §36, Bank L
Versions Introduced in 2015-2016 Legislative Session:
S5296

2017-S3758A (ACTIVE) - Summary

Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.

2017-S3758A (ACTIVE) - Sponsor Memo

2017-S3758A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3758--A
     Cal. No. 1349
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2017
                                ___________
 
 Introduced  by Sens. HAMILTON, SAVINO -- read twice and ordered printed,
   and when printed to be committed to the Committee on Banks -- reported
   favorably from said committee, ordered to  first  and  second  report,
   ordered  to  a third reading, amended and ordered reprinted, retaining
   its place in the order of third reading

 AN ACT to amend the banking law, in relation to examinations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (b) of subdivision 2 of section 36 of the banking
 law,  as  amended by chapter 464 of the laws of 2006, is amended to read
 as follows:
   (b) the superintendent may extend the  examination  interval  from  at
 least once in each calendar year to at least once in each eighteen month
 period if the banking organization to be examined:
   (1)  has total assets of less than [two hundred fifty million dollars]
 ONE BILLION DOLLARS;
   (2) is well-capitalized, which  for  purposes  of  this  paragraph  is
 defined as having capital which significantly exceeds the required mini-
 mum level for each relevant capital measure or as having such capital as
 the superintendent shall otherwise define by regulation;
   (3)  at  its most recent examination, was found to be well-managed and
 its composite condition was found to be outstanding or good;
   (4) is not currently subject to a  formal  enforcement  proceeding  or
 order  by  the superintendent, the federal deposit insurance corporation
 or any other federal banking agency; and
   (5) has not been acquired by any person during the twelve month period
 in which an examination would be required but for this paragraph, and
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08454-03-7

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