Assembly Bill A2604

2009-2010 Legislative Session

Prohibits banking organizations from issuing checks for unsolicited loans

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2009-A2604 (ACTIVE) - Details

See Senate Version of this Bill:
S64
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2850, S651
2013-2014: A2792, S703
2015-2016: A1645, S4028
2017-2018: A1126
2019-2020: A3243
2021-2022: A1693

2009-A2604 (ACTIVE) - Summary

Prohibits banking organizations from issuing checks or drafts to any person or other legal entity when the endorsement or deposit of such check or draft by such person or other legal entity would constitute such person's or other legal entity's acceptance of an unsolicited loan from such banking organization.

2009-A2604 (ACTIVE) - Bill Text download pdf 

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

                                  2604

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2009
                               ___________

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 prohibiting  banks  from
  issuing checks whose endorsement constitutes acceptance of an unsolic-
  ited loan

  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-v  to
read as follows:
  S  9-V.  BANKING  ORGANIZATIONS  PROHIBITED  FROM ISSUING CHECKS WHOSE
ENDORSEMENT CONSTITUTES ACCEPTANCE OF AN UNSOLICITED LOAN.   NO  BANKING
ORGANIZATION  SHALL ISSUE A CHECK OR DRAFT TO ANY PERSON, FIRM, PARTNER-
SHIP, CORPORATION OR OTHER LEGAL ENTITY IF THE ENDORSEMENT OR DEPOSIT OF
SUCH CHECK OR DRAFT BY THE PAYEE WOULD CONSTITUTE THE  ACCEPTANCE  OF  A
LOAN  FROM  SUCH BANKING ORGANIZATION TO SUCH PAYEE WITHOUT SUCH PAYEE'S
HAVING SOLICITED SUCH LOAN.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law; provided, however, that effective immediate-
ly, the addition, amendment, and/or repeal of any rule or regulation  by
the superintendent of banks necessary for the implementation of this act
on  its  effective  date  are  authorized  and  directed  to be made and
completed on or before such effective date.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01717-01-9

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.