Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to banks |
May 23, 2023 |
reported referred to rules |
May 16, 2023 |
print number 1578a |
May 16, 2023 |
amend (t) and recommit to banks |
Jan 17, 2023 |
referred to banks |
Assembly Bill A1578A
2023-2024 Legislative Session
Sponsored By
WALLACE
Current 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
Actions
Bill Amendments
co-Sponsors
Yudelka Tapia
Donna Lupardo
2023-A1578 - Details
2023-A1578 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1578 2023-2024 Regular Sessions I N A S S E M B L Y January 17, 2023 ___________ Introduced by M. of A. WALLACE -- read once and referred to the Commit- tee on Banks AN ACT to amend the banking law, in relation to establishing joint and survivorship accounts; and repealing 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 banking law is amended by adding a new section 675-a to read as follows: § 675-A. JOINT ACCOUNTS; JOINT AND SURVIVORSHIP ACCOUNTS. 1. JOIN ACCOUNTS. (A) WHEN A DEPOSIT OF CASH, SECURITIES, OR OTHER PROPERTY HAS BEEN MADE OR SHALL HEREAFTER BE MADE IN OR WITH ANY BANKING ORGANIZATION OR FOREIGN BANKING CORPORATION TRANSACTING BUSINESS IN THIS STATE, OR SHARES SHALL HAVE BEEN ALREADY ISSUED OR SHALL BE HEREAFTER ISSUED, IN ANY SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION TRANSACTING BUSINESS IN THIS STATE, IN THE NAME OF SUCH DEPOSITOR OR SHAREHOLDER AND ANOTHER PERSON AND IN FORM TO BE PAID OR DELIVERED TO EITHER, OR THE SURVIVOR OF THEM, SUCH DEPOSIT OR SHARES AND ANY ADDITIONS THERETO OR ACCRUALS THER- EON MAY BE PAID OR DELIVERED TO EITHER DURING THE LIFETIME OF BOTH, AND SUCH PAYMENT OR DELIVERY AND THE RECEIPT OR ACQUITTANCE OF THE ONE TO WHOM SUCH PAYMENT OR DELIVERY IS MADE, SHALL BE A VALID AND SUFFICIENT RELEASE AND DISCHARGE TO THE BANKING ORGANIZATION FOR ALL PAYMENTS OR DELIVERIES MADE ON ACCOUNT OF SUCH DEPOSIT OR SHARES PRIOR TO THE RECEIPT BY THE BANKING ORGANIZATION OF NOTICE IN WRITING SIGNED BY EITHER ONE OF SUCH PERSONS, NOT TO PAY OR DELIVER SUCH DEPOSIT OR SHARES AND THE ADDITIONS AND ACCRUALS THEREON IN ACCORDANCE WITH THE TERMS THEREOF, AND AFTER RECEIPT OF ANY SUCH NOTICE, THE BANKING ORGANIZATION MAY REQUIRE THE RECEIPT OR ACQUITTANCE OF BOTH SUCH PERSONS FOR ANY FURTHER PAYMENTS OR DELIVERY. (B) NOTWITHSTANDING THE PROVISIONS OF PARAGRAPH (A) OF THIS SUBDIVI- SION, THE MAKING OF SUCH DEPOSIT OR THE ISSUANCE OF SUCH SHARES IN SUCH EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01238-01-3
co-Sponsors
Yudelka Tapia
Donna Lupardo
Fred Thiele
Jake Ryan Blumencranz
2023-A1578A (ACTIVE) - Details
2023-A1578A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1578--A 2023-2024 Regular Sessions I N A S S E M B L Y January 17, 2023 ___________ Introduced by M. of A. WALLACE, TAPIA, LUPARDO -- read once and referred to the Committee on Banks -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to establishing joint and survivorship accounts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 675-a to read as follows: § 675-A. JOINT ACCOUNTS; JOINT AND SURVIVORSHIP ACCOUNTS. 1. JOINT ACCOUNTS. (A) WHEN A DEPOSIT OF CASH, SECURITIES, OR OTHER PROPERTY HAS BEEN MADE OR SHALL HEREAFTER BE MADE IN OR WITH ANY BANKING ORGANIZATION OR FOREIGN BANKING CORPORATION TRANSACTING BUSINESS IN THIS STATE, OR SHARES SHALL HAVE BEEN ALREADY ISSUED OR SHALL BE HEREAFTER ISSUED, IN ANY SAVINGS AND LOAN ASSOCIATION OR CREDIT UNION TRANSACTING BUSINESS IN THIS STATE, IN THE NAME OF SUCH DEPOSITOR OR SHAREHOLDER AND ANOTHER PERSON AND IN FORM TO BE PAID OR DELIVERED TO EITHER, OR THE SURVIVOR OF THEM, SUCH DEPOSIT OR SHARES AND ANY ADDITIONS THERETO OR ACCRUALS THER- EON MAY BE PAID OR DELIVERED TO EITHER DURING THE LIFETIME OF BOTH, AND SUCH PAYMENT OR DELIVERY AND THE RECEIPT OR ACQUITTANCE OF THE ONE TO WHOM SUCH PAYMENT OR DELIVERY IS MADE, SHALL BE A VALID AND SUFFICIENT RELEASE AND DISCHARGE TO THE BANKING ORGANIZATION FOR ALL PAYMENTS OR DELIVERIES MADE ON ACCOUNT OF SUCH DEPOSIT OR SHARES PRIOR TO THE RECEIPT BY THE BANKING ORGANIZATION OF NOTICE IN WRITING SIGNED BY EITHER ONE OF SUCH PERSONS, NOT TO PAY OR DELIVER SUCH DEPOSIT OR SHARES AND THE ADDITIONS AND ACCRUALS THEREON IN ACCORDANCE WITH THE TERMS THEREOF, AND AFTER RECEIPT OF ANY SUCH NOTICE, THE BANKING ORGANIZATION MAY REQUIRE THE RECEIPT OR ACQUITTANCE OF BOTH SUCH PERSONS FOR ANY FURTHER PAYMENTS OR DELIVERY. (B) TITLE TO THE PROPERTY ON DEPOSIT IN AN ACCOUNT DESCRIBED IN PARA- GRAPH (A) OF THIS SUBDIVISION OR TO THE SHARES ISSUED AS DESCRIBED IN EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01238-03-3
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