Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 01, 2019 |
recommit, enacting clause stricken |
Apr 02, 2019 |
referred to banks |
Senate Bill S4954
2019-2020 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - Stricken
- 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
Actions
2019-S4954 (ACTIVE) - Details
- Law Section:
- Banks
- Laws Affected:
- Amd §6, Chap 322 of 2007; amd §7, Chap 3 of 1997
2019-S4954 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4954 REVISED 4/3/2019 SPONSOR: ANTONACCI TITLE OF BILL: An act to amend chapter 322 of the laws of 2007, amending the banking law relating to the power of banks, private bank- ers, trust companies, savings banks, savings and loan associations, credit unions and foreign banking corporations to exercise the rights of national banks, federal savings associations, federal credit unions and federal branches and agencies of foreign banks, in relation to the effectiveness of certain provisions of such chapter; and to amend chap- ter 3 of the laws of 1997, amending the banking law and the insurance law relating to authorizing the banking board to permit banks and trust companies to exercise the rights of national banks, in relation to the effectiveness of certain provisions of such chapter PURPOSE: TO EXTEND, FOR AN ADDITIONAL FIVE YEARS, THE BANKING "WILD CARD" LAW, WHICH PROVIDES AN ADMINISTRATIVE MECHANISM TO KEEP THE STATE BANKING CHARTER VIABLE AND COMPETITIVE WITH THE FEDERAL BANKING CHARTER.
2019-S4954 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4954 2019-2020 Regular Sessions I N S E N A T E April 2, 2019 ___________ Introduced by Sen. ANTONACCI -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend chapter 322 of the laws of 2007, amending the banking law relating to the power of banks, private bankers, trust companies, savings banks, savings and loan associations, credit unions and foreign banking corporations to exercise the rights of national banks, federal savings associations, federal credit unions and federal branches and agencies of foreign banks, in relation to the effective- ness of certain provisions of such chapter; and to amend chapter 3 of the laws of 1997, amending the banking law and the insurance law relating to authorizing the banking board to permit banks and trust companies to exercise the rights of national banks, in relation to the effectiveness of certain provisions of such chapter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 6 of chapter 322 of the laws of 2007, amending the banking law relating to the power of banks, private bankers, trust companies, savings banks, savings and loan associations, credit unions and foreign banking corporations to exercise the rights of national banks, federal savings associations, federal credit unions and federal branches and agencies of foreign banks, as amended by chapter 113 of the laws of 2014, is amended to read as follows: § 6. This act shall take effect immediately; provided, however that sections one, two, three and four of this act shall take effect Septem- ber 1, 2007; and provided further that sections one, two, three and four of this act shall expire and be deemed repealed September 10, [2019] 2024; and provided further that any federally permitted powers approved under section three of this act shall remain in full force and effect on and after such repeal date and shall not be affected by such repeal. § 2. Section 7 of chapter 3 of the laws of 1997, amending the banking law and the insurance law relating to authorizing the banking board to EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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