Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to banks |
Jan 25, 2013 |
referred to banks |
Senate Bill S2911
2013-2014 Legislative Session
Sponsored By
(D, WF) 21st Senate District
Archive: Last Bill Status - In Senate Committee Banks 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
2013-S2911 (ACTIVE) - Details
- Current Committee:
- Senate Banks
- Law Section:
- Banking Law
- Laws Affected:
- Add §8-a, Bank L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S2166
2011-2012: S1493
2013-S2911 (ACTIVE) - Summary
Prohibits employer withdrawal from direct deposit account without notice to and permission from account owner, who must be given 15 days notice of withdrawal and must give depository bank written permission therefor; provides that this section shall not be construed to supersede any such withdrawal otherwise authorized by law or court order.
2013-S2911 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2911 TITLE OF BILL: An act to amend the banking law, in relation to certain withdrawals from accounts to which direct deposits have been authorized PURPOSE: To prohibit employer withdrawal from direct deposit account without notice to and permission from account owner(s). SUMMARY OF PROVISIONS: This bill amends the banking law by adding a new section 8-a to require that no direct deposit agreement shall authorize any withdrawals from the account into which such direct deposits are to be made. Any language within the agreement that says in any way that withdrawals by anyone other than the account owner(s) shall be void, unenforceable and to no effect. Instead, the language will be understood to mean that any request of withdrawal from anyone other than the account owners, must be accompanied by at least fifteen (15) days written notification by the financial institution, to the account owner(s). Such action would only be permissible when required by law, or upon receipt of the account owner(s) written permission. JUSTIFICATION: This bill serves as protection to individuals who are participating in a direct deposit service agreement between their employer and their financial institution. The bill will ensure that withdrawals will not be made from an employee's account by employers
2013-S2911 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2911 2013-2014 Regular Sessions I N S E N A T E January 25, 2013 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to certain withdrawals from accounts to which direct deposits have been authorized 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 8-a to read as follows: S 8-A. DIRECT DEPOSIT AGREEMENTS WITH EMPLOYERS. NO DIRECT DEPOSIT AGREEMENT WITH AN EMPLOYER SHALL AUTHORIZE ANY WITHDRAWALS FROM THE ACCOUNT INTO WHICH SUCH DIRECT DEPOSITS ARE TO BE MADE BY ANYONE OTHER THAN THE ACCOUNT OWNER, UNLESS AT LEAST FIFTEEN DAYS' WRITTEN NOTICE IS GIVEN BY THE DEPOSITORY BANKING ORGANIZATION TO SUCH OWNER. SUCH NOTICE SHALL BE SENT BY REGULAR MAIL TO THE ACCOUNT OWNER'S LAST KNOWN ADDRESS ON RECORD. THIS SECTION SHALL NOT BE CONSTRUED TO SUPERSEDE ANY SUCH WITHDRAWAL OTHERWISE AUTHORIZED BY LAW OR ORDER OF A COURT OF COMPETENT JURISDICTION. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06742-01-3
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