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A10918Assembly2009-2010 SessionSame asS8066

Requires notice to renters of safe deposit boxes regarding fees and charges

Sponsor Sheldon SilverAD-64+2 co-sponsorsAffects Finance
Status
Vetoed
Impact
Pending
Outcome
Vetoed

Bill progress

Vetoed

What's happening

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Who cares

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Sponsors

Primary sponsor
Sheldon Silver

Assembly Member · Assembly District 64

History

  1. Tabled
  2. Vetoed memo.6784
  3. Delivered to governor
  4. Returned to assembly
  5. Passed senateVote 32–29
  6. 3rd reading cal.1115
  7. Substituted for S8066
  8. Referred to banks
  9. Delivered to senate
  10. Passed assembly
  11. Advanced to third reading cal.930
  12. Reported
Show 2 earlier actions
  1. Reported referred to codes
  2. Referred to banks

Companion bill

The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.

S8066Senate

Requires notice to renters of safe deposit boxes regarding fees and charges

Senate Floor Calendar · Sponsor Daniel L. Squadron

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:A10918

Title of bill

An act to amend the banking law, in relation to requir- ing notice to renters of safe deposit boxes regarding fees and charges

Purpose Or General Idea Of Bill: To protect renters of safety deposit boxes from inappropriate rental fees and applicable charges imposed by banking organizations or safe deposit box companies.

Summary Of Specific Provisions: Subdivision 1 requires any banking organization or safe deposit company which offers safe deposit boxes to provide a schedule of all fees and charges applicable to the rental of the safe deposit box in the rental agreement. Such fees and charges will be approved by the superintendent.

Subdivision 2 requires any banking organization or safe deposit company which offers safe deposit boxes for rent to include, in the annual report to the superintendent, a schedule of all fees and charges imposed on the lessee.

Subdivision 3 states that no fees or charges can be imposed on a lessee when an act of God, common disaster, or emergency situation, renders the lessee unable to access the safe deposit box.

Justification: Several of the victims of the recent Chinatown fire, many who are elderly, families with young children, or individuals with low income, were charged exorbitant fees to replace lost safe deposit keys. in addition, other constituents have stated that they are being charged fees to obtain copies of old bank statements and, other docu- ments necessary to verify their former address. New Yorkers who have literally lost everything are being charged fees to access their valu- ables and critical identification documents. Charging fees under these circumstances is unfair.

Prior Legislative History: This is new legislation.

Fiscal Implications For State And Local Governments: None.

Effective Date: Immediately, and shall apply to all safe deposit box rental agreements entered into on or after such date.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.