Senate Bill S6179

Signed By Governor
2017-2018 Legislative Session

Relates to making certain technical corrections

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A9564 - 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-S6179 - Details

Law Section:
Uniform Commercial Code
Laws Affected:
Amd §§4-A-105, 4-A-106, 4-A-204 & 5--103, UCC; amd §4518, CPLR; amd §200, Lien L; amd §§5-1401 & 7-101, Gen Ob L; amd §§138 & 204-a, Bank L; amd §11.01, Arts & Cul L; amd §§331 & 500, Pers Prop L; amd §399-w, Gen Bus L
Versions Introduced in 2015-2016 Legislative Session:
S8007

2017-S6179 - Summary

Relates to making certain technical corrections relating to the UCC revisions.

2017-S6179 - Sponsor Memo

2017-S6179 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6179
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by  Sen. BONACIC -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the uniform commercial code, the civil practice law  and
   rules, the lien law, the general obligations law, the banking law, the
   general  business  law,  the  arts  and  cultural  affairs law and the
   personal property law, in relation to making technical corrections  to
   conform with revisions to the uniform commercial code
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (g) of subsection 1 of  section  4-A-105  of  the
 uniform commercial code, as added by chapter 208 of the laws of 1990, is
 amended to read as follows:
 (g) "Prove"  with  respect  to a fact means to meet the burden of estab-
        lishing the fact (subsection (B)(8) of section [1-201] 1--201).
   § 2. Subsection 1 of section 4-A-106 of the uniform  commercial  code,
 as  added  by  chapter  208  of  the laws of 1990, is amended to read as
 follows:
   (1) The time of receipt of a payment order or communication cancelling
 or amending a payment order is determined by  the  rules  applicable  to
 receipt  of  a  notice  stated  in  [subsection (27) of] Section [1-201]
 1--202.  A receiving bank may fix a cut-off time or times  on  a  funds-
 transfer  business  day for the receipt and processing of payment orders
 and communications cancelling  or  amending  payment  orders.  Different
 cut-off times may apply to payment orders, cancellations, or amendments,
 or  to  different categories of payment orders, cancellations, or amend-
 ments. A cut-off time may apply to senders generally or  different  cut-
 off  times  may  apply  to  different  senders  or categories of payment
 orders. If a payment order or communication  cancelling  or  amending  a
 payment  order  is received after the close of a funds-transfer business
 day or after the appropriate cut-off time on a  funds-transfer  business
 day,  the receiving bank may treat the payment order or communication as
 received at the opening of the next funds-transfer business day.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

2017-S6179A (ACTIVE) - Details

Law Section:
Uniform Commercial Code
Laws Affected:
Amd §§4-A-105, 4-A-106, 4-A-204 & 5--103, UCC; amd §4518, CPLR; amd §200, Lien L; amd §§5-1401 & 7-101, Gen Ob L; amd §§138 & 204-a, Bank L; amd §11.01, Arts & Cul L; amd §§331 & 500, Pers Prop L; amd §399-w, Gen Bus L
Versions Introduced in 2015-2016 Legislative Session:
S8007

2017-S6179A (ACTIVE) - Summary

Relates to making certain technical corrections relating to the UCC revisions.

2017-S6179A (ACTIVE) - Sponsor Memo

2017-S6179A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6179--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 11, 2017
                                ___________
 
 Introduced  by  Sens. BONACIC, AVELLA -- read twice and ordered printed,
   and when printed to be committed to  the  Committee  on  Judiciary  --
   recommitted  to  the  Committee on Judiciary 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 uniform commercial code, the civil practice law and
   rules, the lien law, the general obligations law, the banking law, the
   general business law, the  arts  and  cultural  affairs  law  and  the
   personal  property law, in relation to making technical corrections to
   conform with revisions to the uniform commercial code
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph  (g)  of subsection 1 of section 4-A-105 of the
 uniform commercial code, as added by chapter 208 of the laws of 1990, is
 amended to read as follows:
 (g) "Prove" with respect to a fact means to meet the  burden  of  estab-
        lishing the fact (subsection (B)(8) of section [1-201] 1--201).
   §  2.  Subsection 1 of section 4-A-106 of the uniform commercial code,
 as added by chapter 208 of the laws of  1990,  is  amended  to  read  as
 follows:
   (1) The time of receipt of a payment order or communication cancelling
 or  amending  a  payment  order is determined by the rules applicable to
 receipt of a notice stated  in  [subsection  (27)  of]  Section  [1-201]
 1--202.    A  receiving bank may fix a cut-off time or times on a funds-
 transfer business day for the receipt and processing of  payment  orders
 and  communications  cancelling  or  amending  payment orders. Different
 cut-off times may apply to payment orders, cancellations, or amendments,
 or to different categories of payment orders, cancellations,  or  amend-
 ments.  A  cut-off time may apply to senders generally or different cut-
 off times may apply  to  different  senders  or  categories  of  payment
 orders.  If  a  payment  order or communication cancelling or amending a
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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