NY State Assembly Bill 2017-A6949C

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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 18, 2018	amended on third reading (t) 6949c
Jan 03, 2018	ordered to third reading cal.484 returned to assembly died in senate
Jun 19, 2017	referred to rules delivered to senate passed assembly
Jun 15, 2017	ordered to third reading rules cal.393 rules report cal.393 reported
Jun 14, 2017	reported referred to rules
Jun 09, 2017	print number 6949b
Jun 09, 2017	amend (t) and recommit to ways and means
Jun 05, 2017	reported referred to ways and means
May 26, 2017	print number 6949a
May 26, 2017	amend and recommit to banks
Mar 27, 2017	referred to banks

Bill Amendments

Original

C (Active)

co-Sponsors

View additional co-sponsors

multi-Sponsors

2017-A6949 - Details

See Senate Version of this Bill:: S9094
Law Section:: Banking Law
Laws Affected:: Amd §96-d, Bank L; amd §4, Chap 526 of 1998
Versions Introduced in 2019-2020 Legislative Session:: A3320, S2120

2017-A6949 - Summary

Relates to the banking development district program.

2017-A6949 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6949
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 27, 2017
                                ___________
 
 Introduced  by  M.  of  A. ZEBROWSKI -- (at request of the Department of
   Financial Services) -- read once and  referred  to  the  Committee  on
   Banks
 
 AN  ACT to amend the banking law, in relation to the banking development
   district program; to amend chapter 526 of the laws of  1998,  amending
   the  banking  law relating to participation in the banking development
   districts program, in relation to the effectiveness  thereof;  and  to
   repeal certain provisions of such law relating thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of subdivision 1 of section  96-d  of
 the  banking  law,  as amended by chapter 526 of the laws of 1998 and as
 further amended by section 104 of part A of chapter 62 of  the  laws  of
 2011, is REPEALED.
   §  2.  Subdivision  2  of section 96-d of the banking law, as added by
 chapter 204 of the laws of 1997, is amended to read as follows:
   2. A local government, in conjunction with a bank,  trust  company  or
 national  bank,  may submit an application to the superintendent for the
 designation of a banking development district. The superintendent  shall
 issue  a  determination  on  such  an  application  within sixty days of
 receiving such application. If an application is  approved,  the  super-
 intendent shall transmit notification of [such approval] THE DESIGNATION
 OF  A  BANKING  DEVELOPMENT  DISTRICT to the local government, the bank,
 trust company or national bank, the state comptroller, the  commissioner
 of  taxation and finance, the commissioner of the department of economic
 development, the temporary president of the senate and  the  speaker  of
 the assembly. THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE
 VALID  FOR FOURTEEN YEARS. PRIOR TO THE EXPIRATION OF A BANKING DEVELOP-
 MENT DISTRICT DESIGNATION, THE SUPERINTENDENT MAY EXTEND THE DESIGNATION
 FOR ONE OR MORE ADDITIONAL FIVE OR TEN YEAR PERIODS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10007-02-7

 A. 6949                             2
 
   § 3. Section 4 of chapter 526 of the laws of 1998, amending the  bank-
 ing  law  relating to participation in the banking development districts
 program, as amended by chapter 46 of the laws of  2016,  is  amended  to
 read as follows:
   §  4.  This  act  shall  take  effect on the first day of January next
 succeeding the date on which it shall have  become  a  law  and  SECTION
 THREE OF THIS ACT shall remain in effect until January 1, 2023 when upon
 such  date it shall expire and be deemed repealed; provided however that
 any branch established prior to the expiration and repeal of this act by
 a savings bank, savings and loan association, federal  savings  bank  or
 federal  savings  and loan association in a banking development district
 pursuant to this act shall continue to operate in accordance  with  this
 act  and remain eligible for all the rights and privileges authorized by
 this act.
   § 4. Section 96-d of the banking law is amended by adding a new subdi-
 vision 3-a to read as follows:
   3-A. IN ORDER TO MEET THE DEMONSTRATED NEED FOR BANKING SERVICES IN  A
 BANKING  DEVELOPMENT  DISTRICT, ANY BANK, TRUST COMPANY OR NATIONAL BANK
 THAT HAS ESTABLISHED A BRANCH  WITHIN  A  BANKING  DEVELOPMENT  DISTRICT
 SHALL  OFFER  AFFORDABLE  PRODUCTS  AND  SERVICES  AND PROVIDE FINANCIAL
 EDUCATION TAILORED TO THE BANKING NEEDS OF THE COMMUNITY  IN  WHICH  THE
 BRANCH IS LOCATED.
   §  5.  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 and 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, CREDIT
 UNION, OR 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
 district are located; provided further that any such municipal or public
 funds or moneys shall be subject to the same requirements which apply to
 municipal or public funds or moneys deposited in a bank,  trust  company
 or  national bank and shall also be subject to the provisions of section
 one hundred five of the state finance law or section ten of the  general
 municipal law relating to such deposits.
   (b)  Notwithstanding any other provision of law, the superintendent of
 financial services shall promulgate rules and regulations  to  authorize
 the  participation  of  savings  banks,  savings  and loan associations,
 federal savings banks [and],  federal  savings  and  loan  associations,

 A. 6949                             3
 
 CREDIT  UNIONS,  AND  FEDERAL  CREDIT  UNIONS in the program established
 pursuant to this section.
   §  6.  This act shall take effect immediately; provided, however, that
 the amendments to subdivision 5 of section 96-d of the banking law  made
 by section five of this act shall not affect the repeal of such subdivi-
 sion and shall be deemed repealed therewith.

co-Sponsors

View additional co-sponsors

multi-Sponsors

2017-A6949A - Details

See Senate Version of this Bill:: S9094
Law Section:: Banking Law
Laws Affected:: Amd §96-d, Bank L; amd §4, Chap 526 of 1998
Versions Introduced in 2019-2020 Legislative Session:: A3320, S2120

2017-A6949A - Summary

Relates to the banking development district program.

2017-A6949A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6949--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 27, 2017
                                ___________
 
 Introduced  by M. of A. ZEBROWSKI, BRINDISI, SKARTADOS, JENNE, McDONALD,
   LUPINACCI -- Multi-Sponsored by -- M. of A. LOPEZ  --  read  once  and
   referred  to  the  Committee  on  Banks  -- committee discharged, bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee

 AN  ACT to amend the banking law, in relation to the banking development
   district program; to amend chapter 526 of the laws of  1998,  amending
   the  banking  law relating to participation in the banking development
   districts program, in relation to the effectiveness  thereof;  and  to
   repeal certain provisions of such law relating thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The opening paragraph of subdivision 1 of section  96-d  of
 the  banking  law,  as amended by chapter 526 of the laws of 1998 and as
 further amended by section 104 of part A of chapter 62 of  the  laws  of
 2011, is REPEALED.
   §  2.  Subdivision  2  of section 96-d of the banking law, as added by
 chapter 204 of the laws of 1997, is amended to read as follows:
   2. A local government, in conjunction with a bank,  trust  company  or
 national  bank,  may submit an application to the superintendent for the
 designation of a banking development district. The superintendent  shall
 issue  a  determination  on  such  an  application  within sixty days of
 receiving such application. If an application is  approved,  the  super-
 intendent shall transmit notification of [such approval] THE DESIGNATION
 OF  A  BANKING  DEVELOPMENT  DISTRICT to the local government, the bank,
 trust company or national bank, the state comptroller, the  commissioner
 of  taxation and finance, the commissioner of the department of economic
 development, the temporary president of the senate and  the  speaker  of
 the assembly. THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE
 VALID  FOR FOURTEEN YEARS. PRIOR TO THE EXPIRATION OF A BANKING DEVELOP-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10007-03-7

 A. 6949--A                          2
 
 MENT DISTRICT DESIGNATION, THE SUPERINTENDENT MAY EXTEND THE DESIGNATION
 FOR ONE OR MORE ADDITIONAL FIVE OR TEN YEAR PERIODS.
   §  3. Section 4 of chapter 526 of the laws of 1998, amending the bank-
 ing law relating to participation in the banking  development  districts
 program,  as  amended  by  chapter 46 of the laws of 2016, is amended to
 read as follows:
   § 4. This act shall take effect on  the  first  day  of  January  next
 succeeding  the  date  on  which  it shall have become a law and SECTION
 THREE OF THIS ACT shall remain in effect until January 1, 2023 when upon
 such date it shall expire and be deemed repealed; provided however  that
 any branch established prior to the expiration and repeal of this act by
 a  savings  bank,  savings and loan association, federal savings bank or
 federal savings and loan association in a banking  development  district
 pursuant  to  this act shall continue to operate in accordance with this
 act and remain eligible for all the rights and privileges authorized  by
 this act.
   §  4.  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 and 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, CREDIT
 UNION, OR 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
 district are located; provided further that any such municipal or public
 funds or moneys shall be subject to the same requirements which apply to
 municipal or public funds or moneys deposited in a bank,  trust  company
 or  national bank and shall also be subject to the provisions of section
 one hundred five of the state finance law or section ten of the  general
 municipal law relating to such deposits.
   (b)  Notwithstanding any other provision of law, the superintendent of
 financial services shall promulgate rules and regulations  to  authorize
 the  participation  of  savings  banks,  savings  and loan associations,
 federal savings banks [and],  federal  savings  and  loan  associations,
 CREDIT  UNIONS,  AND  FEDERAL  CREDIT  UNIONS in the program established
 pursuant to this section.
   § 5. This act shall take effect immediately; provided,  however,  that
 the  amendments to subdivision 5 of section 96-d of the banking law made
 by section five of this act shall not affect the repeal of such subdivi-
 sion and shall be deemed repealed therewith.

co-Sponsors

View additional co-sponsors

2017-A6949B - Details

See Senate Version of this Bill:: S9094
Law Section:: Banking Law
Laws Affected:: Amd §96-d, Bank L; amd §4, Chap 526 of 1998
Versions Introduced in 2019-2020 Legislative Session:: A3320, S2120

2017-A6949B - Summary

Relates to the banking development district program.

2017-A6949B - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6949--B
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 27, 2017
                                ___________
 
 Introduced  by M. of A. ZEBROWSKI, BRINDISI, SKARTADOS, JENNE, McDONALD,
   LUPINACCI, SEPULVEDA, BLAKE -- Multi-Sponsored by -- M. of A. LOPEZ --
   read once  and  referred  to  the  Committee  on  Banks  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- reported and referred to the Committee on Ways
   and Means -- committee discharged, bill amended, ordered reprinted  as
   amended and recommitted to said committee
 
 AN  ACT to amend the banking law, in relation to the banking development
   district program; to amend chapter 526 of the laws of  1998,  amending
   the  banking  law relating to participation in the banking development
   districts program, in relation to the effectiveness thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 2 of section 96-d of the banking law, as added
 by chapter 204 of the laws of 1997, is amended to read as follows:
   2. A local government, in conjunction with a bank,  trust  company  or
 national  bank,  may submit an application to the superintendent for the
 designation of a banking development district. The superintendent  shall
 issue  a  determination  on  such  an  application  within sixty days of
 receiving such application. If an application is  approved,  the  super-
 intendent shall transmit notification of [such approval] THE DESIGNATION
 OF  A  BANKING  DEVELOPMENT  DISTRICT to the local government, the bank,
 trust company or national bank, the state comptroller, the  commissioner
 of  taxation and finance, the commissioner of the department of economic
 development, the temporary president of the senate and  the  speaker  of
 the assembly. THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE
 VALID  FOR FOURTEEN YEARS. PRIOR TO THE EXPIRATION OF A BANKING DEVELOP-
 MENT DISTRICT DESIGNATION, THE SUPERINTENDENT MAY EXTEND THE DESIGNATION
 FOR ONE OR MORE ADDITIONAL FIVE OR TEN YEAR PERIODS.
   § 2. Section 4 of chapter 526 of the laws of 1998, amending the  bank-
 ing  law  relating to participation in the banking development districts
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD10007-05-7

 A. 6949--B                          2
 
 program, as amended by chapter 46 of the laws of  2016,  is  amended  to
 read as follows:
   §  4.  This  act  shall  take  effect on the first day of January next
 succeeding the date on which it shall have  become  a  law  and  SECTION
 THREE OF THIS ACT shall remain in effect until January 1, 2023 when upon
 such  date it shall expire and be deemed repealed; provided however that
 any branch established prior to the expiration  and  repeal  of  SECTION
 THREE  OF  this  act  by  a  savings bank, savings and loan association,
 federal savings bank or federal savings and loan association in a  bank-
 ing  development district pursuant to this act shall continue to operate
 in accordance with this act and remain eligible for all the  rights  and
 privileges authorized by this act.
   §  3.  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 and 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, CREDIT
 UNION, OR 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
 district are located; provided further that any such municipal or public
 funds or moneys shall be subject to the same requirements which apply to
 municipal or public funds or moneys deposited in a bank,  trust  company
 or  national bank and shall also be subject to the provisions of section
 one hundred five of the state finance law or section ten of the  general
 municipal law relating to such deposits.
   (b)  Notwithstanding any other provision of law, the superintendent of
 financial services shall promulgate rules and regulations  to  authorize
 the  participation  of  savings  banks,  savings  and loan associations,
 federal savings banks [and],  federal  savings  and  loan  associations,
 CREDIT  UNIONS,  AND  FEDERAL  CREDIT  UNIONS in the program established
 pursuant to this section.
   § 4. This act shall take effect immediately; provided,  however,  that
 the  amendments to subdivision 5 of section 96-d of the banking law made
 by section three of this act shall not affect the repeal of such  subdi-
 vision and shall be deemed repealed therewith.

co-Sponsors

View additional co-sponsors

2017-A6949C (ACTIVE) - Details

See Senate Version of this Bill:: S9094
Law Section:: Banking Law
Laws Affected:: Amd §96-d, Bank L; amd §4, Chap 526 of 1998
Versions Introduced in 2019-2020 Legislative Session:: A3320, S2120

2017-A6949C (ACTIVE) - Summary

Relates to the banking development district program.

2017-A6949C (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6949--C
                                                         Cal. No. 484
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 27, 2017
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI, BRINDISI, JENNE, McDONALD, BLAKE,
   LUPARDO, COLTON, PELLEGRINO, WALLACE, JONES, WALSH, BRABENEC, RICHARD-
   SON -- read once and referred to the Committee on Banks  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to  said  committee  -- reported and referred to the Committee on Ways
   and Means -- committee discharged, bill amended, ordered reprinted  as
   amended  and recommitted to said committee -- ordered to a third read-
   ing, amended and ordered reprinted, retaining its place on  the  order
   of third reading
 
 AN  ACT to amend the banking law, in relation to the banking development
   district program; and to amend chapter 526 of the laws of 1998, amend-
   ing the banking law relating to participation in the banking  develop-
   ment districts program, in relation to the effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 2 of section 96-d of the banking law, as  added
 by chapter 204 of the laws of 1997, is amended to read as follows:
   2.  A  local  government, in conjunction with a bank, trust company or
 national bank, may submit an application to the superintendent  for  the
 designation  of a banking development district. The superintendent shall
 issue a determination on  such  an  application  within  sixty  days  of
 receiving  such  application.  If an application is approved, the super-
 intendent shall transmit notification of [such approval] THE DESIGNATION
 OF A BANKING DEVELOPMENT DISTRICT to the  local  government,  the  bank,
 trust  company or national bank, the state comptroller, the commissioner
 of taxation and finance, the commissioner of the department of  economic
 development,  the  temporary  president of the senate and the speaker of
 the assembly. THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE
 VALID FOR FOURTEEN YEARS. PRIOR TO THE EXPIRATION OF A BANKING  DEVELOP-
 MENT DISTRICT DESIGNATION, THE SUPERINTENDENT MAY EXTEND THE DESIGNATION
 FOR ONE OR MORE ADDITIONAL FIVE OR TEN YEAR PERIODS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD10007-08-8

 A. 6949--C                          2
 
   §  2. Section 4 of chapter 526 of the laws of 1998, amending the bank-
 ing law relating to participation in the banking  development  districts
 program,  as  amended  by  chapter 46 of the laws of 2016, is amended to
 read as follows:
   §  4.  This  act  shall  take  effect on the first day of January next
 succeeding the date on which it shall have  become  a  law  and  SECTION
 THREE OF THIS ACT shall remain in effect until January 1, 2023 when upon
 such  date it shall expire and be deemed repealed; provided however that
 any branch established prior to the expiration  and  repeal  of  SECTION
 THREE  OF  this  act  by  a  savings bank, savings and loan association,
 federal savings bank or federal savings and loan association in a  bank-
 ing  development district pursuant to this act shall continue to operate
 in accordance with this act and remain eligible for all the  rights  and
 privileges authorized by this act.
   § 3. Subdivisions 5 and 6 of section 96-d of the banking law, subdivi-
 sion  5  as  added  by chapter 526 of the laws of 1998, paragraph (a) of
 subdivision 5 as amended by chapter 328 of the laws of  1999,  paragraph
 (b)  of  subdivision  5  as  further amended by section 104 of part A of
 chapter 62 of the laws of 2011 and subdivision 6 as amended  by  chapter
 330 of the laws of 2009, are 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,  CREDIT
 UNION, OR FEDERAL CREDIT UNION eligibility to accept municipal or public
 funds  or  municipal  or  public  moneys  other  than  for  the [limited
 purposes] SOLE PURPOSE of the establishment of a  branch  in  a  banking
 development  district  pursuant  to  this section; PROVIDED, HOWEVER, NO
 CREDIT UNION OR FEDERAL CREDIT  UNION  MAY  ACCEPT  MUNICIPAL  FUNDS  OR
 MONEYS  FROM  A  MUNICIPAL  CORPORATION  IN EXCESS OF THE STANDARD SHARE
 INSURANCE AMOUNT PER SHARE OWNER AS SET BY  THE  NATIONAL  CREDIT  UNION
 ADMINISTRATION.    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  district  are
 located;  provided  further  that  any such municipal or public funds or
 moneys shall be subject to the same requirements which apply to  munici-
 pal  or  public  funds  or  moneys deposited in a bank, trust company or
 national bank and shall also be subject to the provisions of section one
 hundred five of the state finance law or  section  ten  of  the  general
 municipal law relating to such deposits.
   (b)  Notwithstanding any other provision of law, the superintendent of
 financial services shall promulgate rules and regulations  to  authorize
 the  participation  of  savings  banks,  savings  and loan associations,
 federal savings banks [and],  federal  savings  and  loan  associations,
 CREDIT  UNIONS,  AND  FEDERAL  CREDIT  UNIONS in the program established
 pursuant to this section.
   6. For the purposes of this section, nothing shall  preclude  a  bank,
 trust company or national bank from seeking approval to establish one or

 A. 6949--C                          3
 
 more  branches  in  an existing banking development district where it or
 another bank has or is authorized to have a branch. The department shall
 have the authority to approve any bank, trust company or  national  bank
 for  participation  in the banking development district program, and any
 branch approved pursuant to this section  shall  operate  in  accordance
 with  this  section  and  is  eligible for all the rights and privileges
 authorized by this section; PROVIDED HOWEVER, AN APPLICATION FOR PARTIC-
 IPATION IN THE BANKING DEVELOPMENT DISTRICT PROGRAM SUBMITTED BY A CRED-
 IT UNION OR FEDERAL CREDIT UNION MAY BE APPROVED BY  THE  SUPERINTENDENT
 ONLY  UPON A FINDING THAT: (A) THE APPLICATION MEETS THE CRITERIA ESTAB-
 LISHED HEREIN AND BY RULE, (B)  THE  BANKING  DEVELOPMENT  DISTRICT  FOR
 WHICH  THE  APPLICATION  IS  SUBMITTED  HAS  AN UNMET NEED FOR FINANCIAL
 SERVICES AS DETERMINED BY THE SUPERINTENDENT, AND (C) THAT  NO  APPLICA-
 TION  BY  A  BANK,  TRUST  COMPANY OR NATIONAL BANK, OTHER THAN A CREDIT
 UNION OR FEDERAL CREDIT UNION  HAS  A  PENDING  APPLICATION  BEFORE  THE
 SUPERINTENDENT  THAT, IN THE OPINION OF THE SUPERINTENDENT, WILL FULFILL
 THE UNMET NEED FOR SUCH SERVICES.
   § 4. This act shall take effect immediately; provided,  however,  that
 the  amendments to subdivision 5 of section 96-d of the banking law made
 by section three of this act shall not affect the repeal of such  subdi-
 vision and shall be deemed repealed therewith.

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Assembly Bill A6949C

Sponsored By

Archive: Last Bill Status - On Floor Calendar

Bill Amendments

co-Sponsors

multi-Sponsors

2017-A6949 - Details

2017-A6949 - Summary

2017-A6949 - Bill Text download pdf

co-Sponsors

multi-Sponsors

2017-A6949A - Details

2017-A6949A - Summary

2017-A6949A - Bill Text download pdf

co-Sponsors

2017-A6949B - Details

2017-A6949B - Summary

2017-A6949B - Bill Text download pdf

co-Sponsors

2017-A6949C (ACTIVE) - Details

2017-A6949C (ACTIVE) - Summary

2017-A6949C (ACTIVE) - Bill Text download pdf

Comments

Assembly Bill A6949C

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Sponsored By

ZEBROWSKI O

Archive: Last Bill Status - On Floor Calendar

Bill Amendments

co-Sponsors

Anthony Brindisi

Frank Skartados

Addie Jenne

John T. McDonald III

multi-Sponsors

Peter Lopez

2017-A6949 - Details

2017-A6949 - Summary

2017-A6949 - Bill Text download pdf

co-Sponsors

Anthony Brindisi

Frank Skartados

Addie Jenne

John T. McDonald III

multi-Sponsors

Peter Lopez

2017-A6949A - Details

2017-A6949A - Summary

2017-A6949A - Bill Text download pdf

co-Sponsors

Anthony Brindisi

Frank Skartados

Addie Jenne

John T. McDonald III

2017-A6949B - Details

2017-A6949B - Summary

2017-A6949B - Bill Text download pdf

co-Sponsors

Anthony Brindisi

Frank Skartados

Addie Jenne

John T. McDonald III

2017-A6949C (ACTIVE) - Details

2017-A6949C (ACTIVE) - Summary

2017-A6949C (ACTIVE) - Bill Text download pdf

Comments