Assembly Bill A10031

2023-2024 Legislative Session

Relates to the effectiveness of certain provisions of the banking law

download bill text pdf

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Current Bill Status - Passed Senate & Assembly

  • 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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2023-A10031 (ACTIVE) - Details

See Senate Version of this Bill:
S9382
Law Section:
Banking Law
Laws Affected:
Amd §7, Chap 3 of 1997; amd §6, Chap 322 of 2007

2023-A10031 (ACTIVE) - Summary

Extends certain provisions of the banking law from September 10, 2024 until September 10, 2029.

2023-A10031 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10031
 
                           I N  A S S E M B L Y
 
                                May 2, 2024
                                ___________
 
 Introduced  by  M.  of  A.  BUTTENSCHON -- read once and referred to the
   Committee on Banks
 
 AN ACT 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 thereof; and 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 effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. 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 permit banks and trust companies  to  exercise  the  rights  of
 national  banks,  as  amended  by  chapter  217  of the laws of 2019, is
 amended to read as follows:
   § 7. This act shall take effect immediately provided that section  two
 of  this  act shall take effect on the thirtieth day after it shall have
 become a law and shall apply to violations prescribed in section  44  of
 the  banking  law that occur on or after such date; and provided further
 that sections one, three, four and  five  shall  expire  and  be  deemed
 repealed  September 10, [2024] 2029; and provided further that any rules
 and regulations promulgated pursuant to sections one,  three,  four  and
 five  shall remain in full force and effect on and after such expiration
 date and shall not be affected by such expiration date.
   § 2. Section 6 of chapter 322 of the laws of 2007, amending the  bank-
 ing  law  relating  to the power of banks, private bankers, trust compa-
 nies, 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD15342-01-4

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