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Senate Bill S50006

2009-2010 Legislative Session

Extends the effectiveness of open end loans

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2009-S50006 (ACTIVE) - Details

See other versions of this Bill:
A8382 ,
S5534 ,
S65107 ,
S60404 ,
Current Committee:
Senate Rules
Law Section:
Banks
Laws Affected:
Amd ยง3, Chap 223 of 1996
Versions Introduced in 2011-2012 Legislative Session:
A8102

2009-S50006 (ACTIVE) - Summary

Extends the effectiveness of open end loans.

2009-S50006 (ACTIVE) - Bill Text download pdf 

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

                                    6

                          Extraordinary Session

                            I N  S E N A T E

                              June 23, 2009
                               ___________

Introduced by COMMITTEE ON RULES -- (at request of the Governor) -- read
  twice  and  ordered  printed,  and when printed to be committed to the
  Committee on Rules

AN ACT to amend chapter 223 of the laws of 1996,  amending  the  banking
  law relating to permissible fees in connection with open end loans, in
  relation to extending the effectiveness thereof

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

  Section 1. Section 3 of chapter 223 of the laws of 1996, amending  the
banking  law  relating  to  permissible fees in connection with open end
loans, as amended by chapter 212 of the laws of 2007, is amended to read
as follows:
  S 3. This act shall take effect immediately, and remain in full  force
and  effect until June 30, [2009] 2011, when, upon such date, the amend-
ments made by this act shall expire and  be  deemed  repealed,  and  the
provisions  of law amended by this act shall revert to their text and be
read as they were immediately prior to the effective date of this act.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11860-01-9

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