Senate Bill S8507

2009-2010 Legislative Session

Relates to funds of the state

download bill text pdf

Sponsored By

Archive: Last 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

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2009-S8507 (ACTIVE) - Details

See Assembly Version of this Bill:
A11713
Current Committee:
Senate Rules
Law Section:
Public Authorities Law
Laws Affected:
Add ยง2891, Pub Auth L
Versions Introduced in Other Legislative Sessions:
2011-2012: S2850, A5947
2013-2014: S2780, A2058
2015-2016: S2453, A5798
2017-2018: S2265, A1861
2019-2020: S4262
2021-2022: S4425
2023-2024: S5157

2009-S8507 (ACTIVE) - Summary

Relates to funds of the state; prohibits certain public authorities, commissions or public benefit corporations from depositing moneys in certain banking institutions.

2009-S8507 (ACTIVE) - Sponsor Memo

2009-S8507 (ACTIVE) - Bill Text download pdf

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

                                  8507

                            I N  S E N A T E

                            November 10, 2010
                               ___________

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

AN ACT to amend the public authorities law, in relation to funds of  the
  state

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

  Section 1. The public authorities law  is  amended  by  adding  a  new
section 2891 to read as follows:
  S  2891.  DEPOSITS. NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS CHAP-
TER, NO PUBLIC  AUTHORITY,  COMMISSION  OR  PUBLIC  BENEFIT  CORPORATION
CONTINUED OR CREATED BY THIS CHAPTER SHALL DEPOSIT ITS MONEYS IN A BANK-
ING  INSTITUTION TO WHICH THE COMMUNITY REINVESTMENT ACT OF 1977, UNITED
STATES P.L. 95-128, APPLIES  UNLESS  SUCH  INSTITUTION  HAS  RECEIVED  A
RECORD  OF  PERFORMANCE  NO  LOWER THAN SATISFACTORY AS DETERMINED UNDER
SUCH ACT IN ACCORDANCE WITH SECTION TWENTY-EIGHT-B OF THE BANKING LAW.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD18083-02-0


              

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