Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 17, 2012 |
signed chap.403 |
Aug 06, 2012 |
delivered to governor |
Jun 18, 2012 |
returned to senate passed assembly ordered to third reading rules cal.313 substituted for a9787 |
Jun 18, 2012 |
substituted by s219a rules report cal.313 reported |
Jun 14, 2012 |
reported referred to rules |
May 01, 2012 |
reported referred to codes |
Apr 05, 2012 |
referred to banks |
Assembly Bill A9787
Signed By Governor2011-2012 Legislative Session
Sponsored By
ROBINSON
Archive: Last Bill Status Via S219 - Signed by Governor
- 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
Votes
co-Sponsors
David Weprin
2011-A9787 (ACTIVE) - Details
2011-A9787 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9787 I N A S S E M B L Y April 5, 2012 ___________ Introduced by M. of A. ROBINSON -- read once and referred to the Commit- tee on Banks AN ACT to amend the banking law, in relation to preauthorized electronic fund transfers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 9-s of the banking law, as added by chapter 550 of the laws of 1998 and as further amended by section 104 of part A of chapter 62 of the laws of 2011, is amended to read as follows: S 9-s. Preauthorized electronic fund transfers. 1. Every banking institution which provides preauthorized electronic fund transfers from consumer accounts shall, in accordance with regulations adopted by the superintendent of financial services, provide consumers with the right to stop payment by giving written or oral notice within a specified period of time prior to such transfer. [Any banking institution which complies with the stop payment provisions of the federal Electronic Funds Transfer Act, as such act may be amended from time to time, and any regulations adopted pursuant thereto, shall be deemed to be in compliance with the provisions of this section.] For purposes of this section, "banking institution" shall mean any state or federally char- tered bank, trust company, savings bank, savings and loan association or credit union, and "consumer account" shall mean an account used primari- ly for personal, family or household purposes. 2. NO AGREEMENT FOR PREAUTHORIZED ELECTRONIC FUND TRANSFERS ENTERED INTO ON OR AFTER JANUARY FIRST, TWO THOUSAND THIRTEEN SHALL PERMIT OR REQUIRE THE TRANSFER FROM A CONSUMER ACCOUNT OF ANY FUNDS AS A PENALTY OR A FINAL PAYMENT AFTER THE CONSUMER HAS GIVEN WRITTEN OR ORAL NOTICE TO STOP PAYMENT TO HIS OR HER FINANCIAL INSTITUTION. 3. ANY BANKING INSTITUTION WHICH COMPLIES WITH THE STOP PAYMENT PROVISIONS OF THE FEDERAL ELECTRONIC FUNDS TRANSFER ACT, AS SUCH ACT MAY BE AMENDED FROM TIME TO TIME, AND ANY REGULATIONS ADOPTED PURSUANT THER- ETO, SHALL BE DEEMED TO BE IN COMPLIANCE WITH THE PROVISIONS OF THIS SECTION. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.