Assembly Bill A10228

2019-2020 Legislative Session

Enacts the "New York Stock Act" prohibiting public officers and employees from using nonpublic information derived from their official positions for personal benefit

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Archive: Last Bill Status - In Assembly Committee


  • 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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2019-A10228 (ACTIVE) - Details

Current Committee:
Assembly Governmental Operations
Law Section:
Public Officers Law
Laws Affected:
Add Art 7-A §§112 - 112-e, Pub Off L
Versions Introduced in Other Legislative Sessions:
2021-2022: A6123
2023-2024: A7908

2019-A10228 (ACTIVE) - Summary

Enacts the "New York Stock Act"; prohibits public officers and employees from using nonpublic information derived from their official positions for personal benefit.

2019-A10228 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10228
 
                           I N  A S S E M B L Y
 
                              March 27, 2020
                                ___________
 
 Introduced by M. of A. BUCHWALD -- read once and referred to the Commit-
   tee on Governmental Operations
 
 AN  ACT  to  amend  the  public officers law, in relation to prohibiting
   public officers and employees from using nonpublic information derived
   from their official positions for personal benefit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  This act shall be known and may be cited as the "New York
 Stock Act".
   § 2. The public officers law is amended by adding a new article 7-A to
 read as follows:
                                ARTICLE 7-A
                     USE OF NON-PUBLIC INFORMATION FOR
                        PERSONAL BENEFIT PROHIBITED
 SECTION 112.   DEFINITIONS.
         112-A. PROHIBITION OF  THE  USE  OF  NONPUBLIC  INFORMATION  FOR
                  PRIVATE PROFIT.
         112-B. PROHIBITION OF INSIDER TRADING.
         112-C. OTHER STATE OFFICIALS.
         112-D. PARTICIPATION IN INITIAL PUBLIC OFFERINGS.
         112-E. RULE OF CONSTRUCTION.
   §  112. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE, THE FOLLOWING TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
   1. "MEMBER OF THE LEGISLATURE" MEANS A MEMBER OF THE  NEW  YORK  STATE
 SENATE OR NEW YORK STATE ASSEMBLY.
   2.  "EMPLOYEE OF THE LEGISLATURE" MEANS ANY OFFICER OR EMPLOYEE OF THE
 LEGISLATURE BUT IT SHALL NOT INCLUDE MEMBERS OF THE LEGISLATURE.
   3. "EXECUTIVE BRANCH EMPLOYEE" MEANS:
   A. ANY PERSON EMPLOYED IN THE CIVIL SERVICE OF THIS STATE;
   B. THE GOVERNOR;
   C. THE LIEUTENANT GOVERNOR;
   D. THE COMPTROLLER; AND
   E. THE ATTORNEY GENERAL.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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