Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 09, 2025 |
referred to rules delivered to senate passed assembly |
Jun 06, 2025 |
ordered to third reading rules cal.434 rules report cal.434 reported |
May 19, 2025 |
reported referred to rules |
May 14, 2025 |
print number 5031a |
May 14, 2025 |
amend and recommit to banks |
Feb 11, 2025 |
referred to banks |
Assembly Bill A5031A
2025-2026 Legislative Session
Sponsored By
JACOBSON
Current Bill Status - In Senate Committee Rules 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
Actions
Bill Amendments
co-Sponsors
Nikki Lucas
Alicia Hyndman
Al Taylor
Angelo Santabarbara
2025-A5031 - Details
- See Senate Version of this Bill:
- S4603
- Current Committee:
- Senate Rules
- Law Section:
- Banking Law
- Laws Affected:
- Add §9-ii, Bank L
- Versions Introduced in 2023-2024 Legislative Session:
-
A9210, S9757
2025-A5031 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5031 2025-2026 Regular Sessions I N A S S E M B L Y February 11, 2025 ___________ Introduced by M. of A. JACOBSON, LUCAS, HYNDMAN, TAYLOR, SANTABARBARA, GLICK, DILAN, SAYEGH, SEPTIMO, DAVILA, STECK, REYES, BURDICK, SEAWRIGHT -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to establishing criteria for the closure of banking accounts in the state of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 9-ii to read as follows: § 9-II. CLOSURE OF ACCOUNTS. ALL BANKING ORGANIZATIONS AND OUT-OF- STATE STATE BANKS AUTHORIZED TO OPERATE AND MAINTAIN BRANCHES PURSUANT TO ARTICLE FIVE-C OF THIS CHAPTER WHEN CLOSING THE ACCOUNT OF A CUSTOMER SHALL: (A) PROVIDE SIXTY DAYS' NOTICE THAT SUCH ACCOUNT IS BEING CLOSED, WHETHER FOR PERSONAL OR BUSINESS USE, AND PROVIDE THE REASON FOR SUCH CLOSURE; PROVIDED THAT NOTHING IN THIS SECTION SHALL BE CONSTRUED TO PREEMPT ANY FEDERAL LAW THAT PROHIBITS DISCLOSURE OF THE REASON FOR AN ACCOUNT CLOSURE; AND (B) RETURN ANY REMAINING FUNDS FROM SUCH ACCOUNT WITHIN SIXTY DAYS AFTER THE CLOSURE OF SUCH ACCOUNT TO THE OWNER. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03161-01-5
co-Sponsors
Nikki Lucas
Alicia Hyndman
Al Taylor
Angelo Santabarbara
2025-A5031A (ACTIVE) - Details
- See Senate Version of this Bill:
- S4603
- Current Committee:
- Senate Rules
- Law Section:
- Banking Law
- Laws Affected:
- Add §9-ii, Bank L
- Versions Introduced in 2023-2024 Legislative Session:
-
A9210, S9757
2025-A5031A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5031--A 2025-2026 Regular Sessions I N A S S E M B L Y February 11, 2025 ___________ Introduced by M. of A. JACOBSON, LUCAS, HYNDMAN, TAYLOR, SANTABARBARA, GLICK, DILAN, SAYEGH, SEPTIMO, DAVILA, STECK, REYES, BURDICK, SEAWRIGHT -- 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 banking law, in relation to establishing criteria for the closure of banking accounts in the state of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 9-ii to read as follows: § 9-II. CLOSURE OF ACCOUNTS. 1. ALL BANKING ORGANIZATIONS AND OUT-OF- STATE STATE BANKS AUTHORIZED TO OPERATE AND MAINTAIN BRANCHES PURSUANT TO ARTICLE FIVE-C OF THIS CHAPTER WHEN CLOSING THE ACCOUNT OF A CUSTOMER SHALL: (A) PROVIDE SIXTY DAYS' NOTICE THAT SUCH ACCOUNT IS BEING CLOSED, WHETHER FOR PERSONAL OR BUSINESS USE, AND PROVIDE THE REASON FOR SUCH CLOSURE, AND (B) RETURN ANY REMAINING FUNDS FROM SUCH ACCOUNT WITHIN SIXTY DAYS AFTER THE CLOSURE OF SUCH ACCOUNT TO THE OWNER. 2. THIS SECTION SHALL NOT APPLY TO THE EXTENT THAT IT IS PREEMPTED BY FEDERAL LAW. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO REQUIRE ANY ACT PROHIBITED, OR PROHIBIT ANY ACT REQUIRED, BY FEDERAL LAW. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03161-02-5
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