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Assembly Bill A7502

2025-2026 Legislative Session

Prohibits banks from holding for deposit state issued check

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Current Bill Status - In Assembly Committee

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2025-A7502 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Add §9-e, Bank L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3414
2011-2012: A2759
2013-2014: A4089
2015-2016: A3228
2017-2018: A3569
2019-2020: A3554
2021-2022: A1699
2023-2024: A4555

2025-A7502 (ACTIVE) - Summary

Prohibits banks from holding for deposit the funds from checks issued by the state.

2025-A7502 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7502
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 28, 2025
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Banks
 
 AN ACT to amend the banking law, in relation to  the  deposit  of  state
   issued checks
 
   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-e  to
 read as follows:
   §  9-E.  DEPOSIT  OF  STATE  ISSUED CHECKS. NO BANKING INSTITUTION, AS
 DEFINED IN SECTION NINE-F OF THIS ARTICLE, SHALL HOLD  FOR  DEPOSIT  THE
 FUNDS FROM A CHECK ISSUED BY THE STATE.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10711-01-5

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