Assembly Actions -
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Bill S9583
2021-2022 Legislative Session
Sponsored By
There are no sponsors of this bill.
Archive: Last Bill Status -
- Introduced
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- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-S9583 (ACTIVE) - Details
2021-S9583 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9583 SPONSOR: MYRIE TITLE OF BILL: An act to amend the general business law, in relation to requiring issuers of credit cards to give the cardholder at least 45 days notice before closing the cardholder's account PURPOSE: To ensure a cardholder is given proper notification prior to an account being closed by the issuer. SUMMARY OF PROVISIONS: Section 1 amends the general business law by adding new section 520-f, requiring credit card issuers to give cardholders a 45-day written notice before a specific account is closed. Section 2 provides the effective date.
2021-S9583 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9583 I N S E N A T E October 24, 2022 ___________ Introduced by Sen. MYRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the general business law, in relation to requiring issuers of credit cards to give the cardholder at least 45 days notice before closing the cardholder's account THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new section 520-f to read as follows: § 520-F. ISSUER CANCELATION. 1. NO ISSUER SHALL CLOSE A HOLDER'S ACCOUNT WITH THE ISSUER WITHOUT GIVING THE HOLDER WRITTEN NOTICE VIA EMAIL, TEXT MESSAGE, OR WRITTEN LETTER THAT SUCH ACCOUNT IS BEING CLOSED. 2. THE CANCELATION OR DEACTIVATION OF A CREDIT CARD IN VIOLATION OF THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION SHALL CONSTITUTE A VIOLATION. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16447-01-2
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