assembly Bill A3262

2019-2020 Legislative Session

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (5)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to ways and means
Jun 17, 2019 reported referred to ways and means
Jun 13, 2019 print number 3262a
Jun 13, 2019 amend (t) and recommit to banks
Jan 29, 2019 referred to banks

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A3262 - Details

See Senate Version of this Bill:
S6079
Law Section:
General Municipal Law
Laws Affected:
Amd §10, Gen Muni L; amd §§454, 237, 234 & 383, add §454-a, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4370
2011-2012: A3239
2013-2014: A1112, S4672
2015-2016: A7017, S4785
2017-2018: A7619, S286
2021-2022: A7334, A8289, S670

A3262 - Summary

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

A3262 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3262
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 29, 2019
                                ___________
 
 Introduced  by  M.  of  A. ZEBROWSKI, LUPARDO, MOSLEY, GOTTFRIED, BLAKE,
   M. G. MILLER, COOK, STECK, FAHY, JEAN-PIERRE, WALLACE, JONES, RICHARD-
   SON, WALSH, BRABENEC, MONTESANO, RA -- Multi-Sponsored by -- M. of  A.
   ABBATE, BARRETT, DICKENS, ENGLEBRIGHT, FRIEND, THIELE -- read once and
   referred to the Committee on Banks

 AN  ACT  to  amend  the  general  municipal  law and the banking law, in
   relation to allowing credit unions, savings banks,  savings  and  loan
   associations  and  federal  savings  associations to accept and secure
   deposits from municipal corporations
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph d of subdivision 1 of section 10 of the general
 municipal law, as amended by chapter 623 of the laws of 1998, is amended
 to read as follows:
   d. "Bank" shall mean a bank  as  defined  by  the  banking  law  or  a
 national  banking  association  located and authorized to do business in
 New York; A CREDIT UNION AS DEFINED BY THE  BANKING  LAW  OR  A  FEDERAL
 CREDIT UNION LOCATED AND AUTHORIZED TO DO BUSINESS IN NEW YORK WHICH HAS
 ITS  PRINCIPAL OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (A) OF SUBDI-
 VISION THIRTY-EIGHT OF SECTION FOUR HUNDRED FIFTY-FOUR  OF  THE  BANKING
 LAW,  OR  A  BRANCH  OFFICE  IN A LOCATION DESCRIBED IN PARAGRAPH (B) OF
 SUBDIVISION THIRTY-EIGHT OF SECTION FOUR HUNDRED FIFTY-FOUR OF THE BANK-
 ING LAW; OR A SAVINGS BANK AS DEFINED BY THE BANKING LAW, A SAVINGS  AND
 LOAN  ASSOCIATION  AS  DEFINED  BY  THE BANKING LAW OR A FEDERAL SAVINGS
 ASSOCIATION LOCATED AND AUTHORIZED TO DO BUSINESS IN NEW YORK WHICH  HAS
 ITS  PRINCIPAL OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (A) OF SUBDI-
 VISION TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW, OR  A
 BRANCH  OFFICE  IN  A LOCATION DESCRIBED IN PARAGRAPH (B) OF SUBDIVISION
 TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW.
   § 2. Section 454 of the banking law is amended by adding a new  subdi-
 vision 38 to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

Co-Sponsors

view additional co-sponsors

Multi-Sponsors

A3262A (ACTIVE) - Details

See Senate Version of this Bill:
S6079
Law Section:
General Municipal Law
Laws Affected:
Amd §10, Gen Muni L; amd §§454, 237, 234 & 383, add §454-a, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4370
2011-2012: A3239
2013-2014: A1112, S4672
2015-2016: A7017, S4785
2017-2018: A7619, S286
2021-2022: A7334, A8289, S670

A3262A (ACTIVE) - Summary

Allows credit unions, savings banks, savings and loan associations and federal savings associations to accept and secure deposits from municipal corporations.

A3262A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3262--A
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 29, 2019
                                ___________
 
 Introduced  by  M.  of  A. ZEBROWSKI, LUPARDO, MOSLEY, GOTTFRIED, BLAKE,
   M. G. MILLER, COOK, STECK, FAHY, JEAN-PIERRE, WALLACE, JONES, RICHARD-
   SON, WALSH, BRABENEC, MONTESANO, RA, BYRNE, CARROLL,  STIRPE,  HUNTER,
   LALOR,  SALKA,  B. MILLER  --  Multi-Sponsored  by -- M. of A. ABBATE,
   BARRETT, DICKENS, ENGLEBRIGHT, THIELE -- read once and referred to the
   Committee on Banks --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend  the  general  municipal  law and the banking law, in
   relation to allowing credit unions, savings banks,  savings  and  loan
   associations  and  federal  savings  associations to accept and secure
   deposits from municipal corporations;  to  direct  the  department  of
   financial  services  to  conduct a study and issue a report concerning
   the impact of allowing certain financial institutions to accept  local
   government  public  deposits;  and providing for the repeal of certain
   provisions upon the expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Paragraph d of subdivision 1 of section 10 of the general
 municipal law, as amended by chapter 623 of the laws of 1998, is amended
 to read as follows:
   d. "Bank" shall mean a bank  as  defined  by  the  banking  law  or  a
 national  banking  association  located and authorized to do business in
 New York; A SAVINGS BANK AS DEFINED BY THE BANKING LAW,  A  SAVINGS  AND
 LOAN  ASSOCIATION  AS  DEFINED  BY  THE BANKING LAW OR A FEDERAL SAVINGS
 ASSOCIATION LOCATED AND AUTHORIZED TO DO BUSINESS IN NEW YORK WHICH  HAS
 ITS  PRINCIPAL OFFICE IN A LOCATION DESCRIBED IN PARAGRAPH (A) OF SUBDI-
 VISION TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW, OR  A
 BRANCH  OFFICE  IN  A LOCATION DESCRIBED IN PARAGRAPH (B) OF SUBDIVISION
 TWO OF SECTION TWO HUNDRED THIRTY-SEVEN OF THE BANKING LAW.
   § 2. Section 10 of the general municipal law is amended  by  adding  a
 new subdivision 5 to read as follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.