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Sponsors
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History
- Substituted by S5588A
- Amended on third reading 8378a
- Ordered to third reading cal.580
- Returned to assembly
- Died in senate
- Referred to judiciary
- Delivered to senate
- Passed assembly
- Advanced to third reading cal.706
- Reported
- Referred to judiciary
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.
Grants an exemption to provisions prohibiting transfer of any retirement plan upon commencement of matrimonial action when benefits are being paid under such plan
Signed by Governor · Sponsor John L. Sampson
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A8378A
Title of bill
An act to amend the domestic relations law, in relation to the use of the proceeds of a retirement plan after the commencement of a matrimonial action
Purpose of bill
This bill makes a correction to Ch. 72 '09, by permitting either party to a matrimonial action to continue receiving payments from a retirement plan, where such party is already in pay status at the time when the automatic orders preventing dissipation of funds would otherwise take effect.
Summary of provisions
Section 1 amends subparagraph 2 of paragraph b of subdivision 2 of part B section 236 of the domestic relations law, as added by Ch. 72 '09 by exempting either party to a matrimonial action from the automatic order provision relating to retirement accounts, where such party is already in pay status so that such party may continue to receive the retirement payments that he or she was previously receiving.
Justification
This bill clarifies that those who are already retired and are receiving payments from a retirement plan, can continue to receive such payments.
Legislative history
2009 - Ch. Amend to A.2574/S.2970.
Fiscal implications for state and local governments
None.
Effective date
The law shall take effect immediately and shall be deemed to have been in full force and effect on and after September 1, 2009.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.