Senate Bill S3618

2015-2016 Legislative Session

Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license

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Archive: Last Bill Status - In Assembly 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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2015-S3618 (ACTIVE) - Details

See Assembly Version of this Bill:
A3176
Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd ยง373, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: S3361, A6571
2013-2014: S715, A5399
2017-2018: S2419, A1940
2019-2020: S3838
2021-2022: S4583
2023-2024: S4619

2015-S3618 (ACTIVE) - Summary

Increases penalties for individuals or companies who engage in the business of cashing checks, drafts or money orders for consideration without a license; makes such violation a class E felony; provides for a fine of $2,500 for each transaction.

2015-S3618 (ACTIVE) - Sponsor Memo

2015-S3618 (ACTIVE) - Bill Text download pdf 

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

                                  3618

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 13, 2015
                               ___________

Introduced  by  Sen.  GRIFFO -- 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 increasing the penalties
  for individuals or companies who engage in  the  business  of  cashing
  checks, drafts or money orders for consideration without a license

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

  Section 1. Subdivision 5 of section 373 of the banking law,  as  added
by chapter 235 of the laws of 2008, is amended to read as follows:
  5. Notwithstanding the provisions of subdivision four of this section,
any  person,  partnership,  association  or  corporation and the several
members, officers, directors, agents and  employees  thereof  who  shall
violate  the  provisions  of  subdivision  one  of section three hundred
sixty-seven of this article shall be guilty of a class [A misdemeanor] E
FELONY AND SHALL BE PUNISHABLE BY A FINE OF TWO  THOUSAND  FIVE  HUNDRED
DOLLARS FOR EACH TRANSACTION MADE IN VIOLATION OF SUCH SUBDIVISION.
  S 2. This act shall take effect on the one hundred twentieth day after
it shall have become a law.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01327-01-5

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