senate Bill S4954

2019-2020 Legislative Session

Relates to extending certain provisions authorizing banks and trust companies to exercise the rights of national banks

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Sponsored By

Archive: Last Bill Status - Stricken


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

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 01, 2019 recommit, enacting clause stricken
Apr 02, 2019 referred to banks

S4954 (ACTIVE) - Details

Current Committee:
Law Section:
Banks
Laws Affected:
Amd §6, Chap 322 of 2007; amd §7, Chap 3 of 1997

S4954 (ACTIVE) - Summary

Relates to extending certain provisions authorizing banks and trust companies to exercise the rights of national banks.

S4954 (ACTIVE) - Sponsor Memo

S4954 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4954

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                              April 2, 2019
                               ___________

Introduced by Sen. ANTONACCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks

AN  ACT  to  amend chapter 322 of the laws of 2007, amending the banking
  law relating to the power of banks, private bankers, trust  companies,
  savings  banks,  savings  and  loan  associations,  credit  unions and
  foreign banking corporations to exercise the rights of national banks,
  federal  savings  associations,  federal  credit  unions  and  federal
  branches  and agencies of foreign banks, in relation to the effective-
  ness of certain provisions of such chapter; and to amend chapter 3  of
  the  laws  of  1997,  amending  the  banking law and the insurance law
  relating to authorizing the banking board to permit  banks  and  trust
  companies to exercise the rights of national banks, in relation to the
  effectiveness of certain provisions of such chapter

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 6 of chapter 322 of the laws of 2007, amending  the
banking  law  relating  to  the  power  of banks, private bankers, trust
companies, savings banks, savings and loan associations,  credit  unions
and  foreign  banking  corporations  to  exercise the rights of national
banks, federal savings associations, federal credit unions  and  federal
branches and agencies of foreign banks, as amended by chapter 113 of the
laws of 2014, is amended to read as follows:
  §  6.  This  act shall take effect immediately; provided, however that
sections one, two, three and four of this act shall take effect  Septem-
ber 1, 2007; and provided further that sections one, two, three and four
of  this  act  shall  expire and be deemed repealed September 10, [2019]
2024; and provided further that any federally permitted powers  approved
under section three of this act shall remain in full force and effect on
and after such repeal date and shall not be affected by such repeal.
  §  2. Section 7 of chapter 3 of the laws of 1997, amending the banking
law and the insurance law relating to authorizing the banking  board  to

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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