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History
- Referred to energy and telecommunications
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2247
Title of bill
An act to amend the public service law, in relation to proceeds from prepaid telephone calling cards
Summary
This legislation would require telephone prepaid calling card distributors who offer or sell in or from the state of New York to deposit all such proceeds in an escrow account in a bank, trust company, savings bank, or state or federal savings and loan association in this state. Monies deposited in escrow shall be released upon use of such cards to long distance carriers. Until such use of said cards the customer shall retain a property interest in that portion of the deposit which equals the amount he has paid for such card.
Justification
The purchaser of the prepaid calling card (and not the prepaid calling card distributor) should rightfully retain the benefit of property interest in the amount he/she has paid until requested services are rendered.
Fiscal implications
None.
Effective date
This act shall take effect on the first day of the calendar month next succeeding the thirtieth day after it shall have became a law and shall apply to any prepaid calling cards sold or distributed on or after such effective date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.