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Who cares
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Sponsors
1 Co-sponsor
History
- 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.
Prohibits banks from holding for deposit state issued check
In Assembly Committee · Banks · Sponsor J. Gary Pretlow
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the banking law, in relation to the deposit of state issued checks
Purpose of bill
Prohibits banks from holding for deposit state issued checks.
Summary of specific provisions
Section 1. The Banking Law is amended by adding a new section 9-e to read as follows:
Section 9-e. Deposit of state issued checks. No banking institution, as defined in section nine-f of this chapter, shall hold for deposit the funds from a check issued by the state.
Justification
Individuals who are on worker's compensation, unemployment, etc. cannot cash their check at a bank which they do not have an account with. They must resolve to go to a check cashing outlet where a fee is charged to process the check. These individuals who rely on this income should not have to go to these places and pay these fees, when it is obvious that they cannot afford it.
Legislative history
01/30/13 referred to banks 01/08/14 referred to banks 04/07/14 enacting clause stricken
Fiscal implications
None.
Effective date
This act shall take effect on the thirtieth day after it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.