Senate Bill S2931

2013-2014 Legislative Session

Relates to violations by unlicensed transmitters of money

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

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2013-S2931 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง650, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: S4210
2015-2016: S2901

2013-S2931 (ACTIVE) - Summary

Relates to increasing penalties for violations by unlicensed transmitters of money.

2013-S2931 (ACTIVE) - Sponsor Memo

2013-S2931 (ACTIVE) - Bill Text download pdf 

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

                                  2931

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                            January 25, 2013
                               ___________

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

AN ACT to amend the banking law, in relation to violations by unlicensed
  transmitters of money

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

  Section  1.    Subdivision  2  of  section  650 of the banking law, as
amended by chapter 543 of the laws  of  1990,  is  amended  to  read  as
follows:
  2.  a.  Any person who either (1) engages in the business of receiving
money for transmission or transmitting the same or (2) sells  or  issues
New  York  instruments  or New York traveler's checks as those terms are
defined by section six hundred fifty-three of this  chapter,  without  a
license  therefor  obtained  from the superintendent as provided in this
article, shall be guilty of a [Class] CLASS A misdemeanor.
  b. Any person who violates paragraph a of this subdivision and in  the
course of that violation:
  (1)  knowingly receives or agrees to receive for transmission from one
or more individuals a total of ten thousand dollars or more in a  single
transaction,  a  total  of twenty-five thousand dollars or more during a
period of thirty days or less, or a total of two hundred fifty  thousand
dollars or more during a period of one year or less; or
  (2) knowingly sells or issues New York instruments or New York travel-
er's  checks to one or more individuals totaling ten thousand dollars or
more in a single transaction, a total of twenty-five thousand dollars or
more during a period of thirty days or less, or a total of  two  hundred
fifty thousand dollars or more during a period of one year or less SHALL
BE GUILTY OF A CLASS E FELONY; [or
  (3)]  C. ANY PERSON WHO VIOLATES THE PROVISIONS OF PARAGRAPH A OF THIS
SUBDIVISION AND IN THE COURSE OF SUCH VIOLATION:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08150-01-3

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