Senate Bill S5296

2015-2016 Legislative Session

Relates to bank organization examinations

download bill text pdf

Sponsored By

Archive: Last 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

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2015-S5296 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §36, Bank L
Versions Introduced in 2017-2018 Legislative Session:
S3758

2015-S5296 (ACTIVE) - Summary

Relates to bank organization examinations; requires an extension from one year to eighteen months where a bank has total assets of less than one billion dollars.

2015-S5296 (ACTIVE) - Sponsor Memo

2015-S5296 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5296

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                              May 12, 2015
                               ___________

Introduced  by  Sen.  SAVINO -- 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 examinations

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph (b) of subdivision 2 of section 36 of the banking
law,  as  amended by chapter 464 of the laws of 2006, is amended to read
as follows:
  (b) the superintendent [may] SHALL  extend  the  examination  interval
from  at least once in each calendar year to at least once in each eigh-
teen month period if the banking organization to be examined:
  (1) has total assets of less than [two hundred fifty million  dollars]
ONE BILLION DOLLARS;
  (2)  is  well-capitalized,  which  for  purposes  of this paragraph is
defined as having capital which significantly exceeds the required mini-
mum level for each relevant capital measure or as having such capital as
the superintendent shall otherwise define by regulation;
  (3) at its most recent examination, was found to be  well-managed  and
its composite condition was found to be outstanding or good;
  (4)  is  not  currently  subject to a formal enforcement proceeding or
order by the superintendent, the federal deposit  insurance  corporation
or any other federal banking agency; and
  (5) has not been acquired by any person during the twelve month period
in which an examination would be required but for this paragraph, and
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10706-01-5


              

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