Assembly Bill A3521B

2015-2016 Legislative Session

Includes credit unions and federal credit unions within the definition of bank, trust company or national bank for purpose of banking development district program

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Archive: Last Bill Status - On Floor Calendar

  • 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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Bill Amendments

co-Sponsors

multi-Sponsors

2015-A3521 - Details

See Senate Version of this Bill:
S5521
Law Section:
Banking Law
Laws Affected:
Amd §§96-d & 451-a, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A8693
2017-2018: A5776, S5187
2019-2020: S727

2015-A3521 - Summary

Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

2015-A3521 - Bill Text download pdf 

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

                                  3521

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2015
                               ___________

Introduced  by  M.  of  A.  ROBINSON, KEARNS, MOSLEY, SEPULVEDA, WEPRIN,
  CAMARA, PERRY -- read once and referred to the Committee on Banks

AN ACT to amend the banking law, in relation to including credit  unions
  and federal credit unions within provisions regarding banking develop-
  ment  district  program  and  providing  for  the  repeal  of  certain
  provisions upon expiration thereof

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

  Section  1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by  chapter
328 of the laws of 1999, paragraph (b) as further amended by section 104
of  part  A  of  chapter  62  of the laws of 2011, is amended to read as
follows:
  5. (a) Notwithstanding the provisions of subdivision  two  of  section
two  hundred  thirty-seven  of  this  chapter;  for the purposes of this
section, paragraph c of subdivision two of section ten  of  the  general
municipal  law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real  property
tax  law,  any reference to a bank, trust company or national bank shall
be deemed to include a  savings  bank,  savings  and  loan  association,
federal  savings and loan association [or], federal savings bank, CREDIT
UNION OR FEDERAL CREDIT UNION; provided, however, that  such  provisions
of law do not grant a savings bank, savings and loan association, feder-
al  savings  and  loan  association [or], federal savings bank, A CREDIT
UNION OR A FEDERAL CREDIT  UNION  eligibility  to  accept  municipal  or
public  funds  or  municipal or public moneys other than for the limited
purposes of the establishment of  a  branch  in  a  banking  development
district pursuant to this section. Any such municipal or public funds or
moneys  shall  be  deposited  only at the branch established pursuant to
this section, and any municipal funds or moneys may be deposited only by
the sponsoring municipality in which the branch and banking  development

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01032-01-5

co-Sponsors

multi-Sponsors

2015-A3521A - Details

See Senate Version of this Bill:
S5521
Law Section:
Banking Law
Laws Affected:
Amd §§96-d & 451-a, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A8693
2017-2018: A5776, S5187
2019-2020: S727

2015-A3521A - Summary

Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

2015-A3521A - Bill Text download pdf 

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

                                 3521--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2015
                               ___________

Introduced  by  M.  of  A.  ROBINSON, KEARNS, MOSLEY, SEPULVEDA, WEPRIN,
  PERRY, RUSSELL, BRABENEC, STECK -- Multi-Sponsored  by  --  M.  of  A.
  SIMANOWITZ  --  read  once  and  referred to the Committee on Banks --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT to amend the banking law, in relation to including credit unions
  and federal credit unions within provisions regarding banking develop-
  ment district program

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

  Section  1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by  chapter
328 of the laws of 1999, paragraph (b) as further amended by section 104
of  part  A  of  chapter  62  of the laws of 2011, is amended to read as
follows:
  5. (a) Notwithstanding the provisions of subdivision  two  of  section
two  hundred  thirty-seven  of  this  chapter;  for the purposes of this
section, paragraph c of subdivision two of section ten  of  the  general
municipal  law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real  property
tax  law,  any reference to a bank, trust company or national bank shall
be deemed to include a  savings  bank,  savings  and  loan  association,
federal  savings and loan association [or], federal savings bank, CREDIT
UNION OR FEDERAL CREDIT UNION; provided, however, that  such  provisions
of law do not grant a savings bank, savings and loan association, feder-
al  savings  and  loan  association [or], federal savings bank, A CREDIT
UNION OR A FEDERAL CREDIT  UNION  eligibility  to  accept  municipal  or
public  funds  or  municipal or public moneys other than for the limited
purposes of the establishment of  a  branch  in  a  banking  development
district pursuant to this section. Any such municipal or public funds or
moneys  shall  be  deposited  only at the branch established pursuant to

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01032-02-5

co-Sponsors

multi-Sponsors

2015-A3521B (ACTIVE) - Details

See Senate Version of this Bill:
S5521
Law Section:
Banking Law
Laws Affected:
Amd §§96-d & 451-a, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A8693
2017-2018: A5776, S5187
2019-2020: S727

2015-A3521B (ACTIVE) - Summary

Relates to including credit unions and federal credit unions within the definition of bank, trust company or national bank for the purpose of the banking development district program (which was created to encourage the establishment of bank branches in geographic locations where there is a demonstrated need for banking services); relates to directing the banking board to promulgate rules and regulations to authorize the participation of credit unions and federal credit unions in such program; provides that for purposes of such program, a credit union may include in its membership any person or organization located within a local community, neighborhood or rural district where there is a demonstrated need for banking services.

2015-A3521B (ACTIVE) - Bill Text download pdf 

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

                                 3521--B

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 23, 2015
                               ___________

Introduced  by  M.  of  A.  ROBINSON, KEARNS, MOSLEY, SEPULVEDA, WEPRIN,
  PERRY, RUSSELL, BRABENEC, STECK -- Multi-Sponsored  by  --  M.  of  A.
  SIMANOWITZ  --  read  once  and  referred to the Committee on Banks --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee -- recommitted to the Committee on Banks
  in  accordance  with  Assembly Rule 3, sec. 2 -- committee discharged,
  bill amended, ordered reprinted as amended  and  recommitted  to  said
  committee

AN  ACT to amend the banking law, in relation to including credit unions
  and federal credit unions within provisions regarding banking develop-
  ment district program

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

  Section  1. Subdivision 5 of section 96-d of the banking law, as added
by chapter 526 of the laws of 1998, paragraph (a) as amended by  chapter
328 of the laws of 1999, paragraph (b) as further amended by section 104
of  part  A  of  chapter  62  of the laws of 2011, is amended to read as
follows:
  5. (a) Notwithstanding the provisions of subdivision  two  of  section
two  hundred  thirty-seven  of  this  chapter;  for the purposes of this
section, paragraph c of subdivision two of section ten  of  the  general
municipal  law, subdivision six of section one hundred five of the state
finance law and section four hundred eighty-five-f of the real  property
tax  law,  any reference to a bank, trust company or national bank shall
be deemed to include a  savings  bank,  savings  and  loan  association,
federal  savings and loan association [or], federal savings bank, CREDIT
UNION OR FEDERAL CREDIT UNION; provided, however, that  such  provisions
of law do not grant a savings bank, savings and loan association, feder-
al  savings  and  loan  association [or], federal savings bank, A CREDIT
UNION OR A FEDERAL CREDIT  UNION  eligibility  to  accept  municipal  or
public  funds  or  municipal or public moneys other than for the limited

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01032-05-6

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