S06735 Summary:

BILL NO    S06735 

SAME AS    SAME AS A09057

SPONSOR    GRIFFO

COSPNSR    FARLEY

MLTSPNSR   

Amd S6, Chap 322 of 2007; amd S7, Chap 3 of 1997

Extends provisions relating to the power of banks, private bankers, trust
companies, savings banks, savings and loan associations, credit unions and
foreign banking corporations to exercise the rights of national banks.
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S06735 Actions:

BILL NO    S06735 

03/05/2014 REFERRED TO BANKS
03/26/2014 1ST REPORT CAL.366
03/27/2014 2ND REPORT CAL.
03/31/2014 ADVANCED TO THIRD READING 
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S06735 Votes:

There are no votes for this bill in this legislative session.
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S06735 Memo:

Memo not available
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S06735 Text:

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

                                         6735

                                   I N  S E N A T E

                                     March 5, 2014
                                      ___________

       Introduced  by  Sens.  GRIFFO, FARLEY -- read twice and ordered printed,
         and when printed to be committed to the Committee on Banks

       AN ACT to amend chapter 322 of the laws of 2007,  amending  the  banking
         law  relating to the power of banks, private bankers, trust companies,
         savings banks,  savings  and  loan  associations,  credit  unions  and
         foreign banking corporations to exercise the rights of national banks,
         federal  savings  associations,  federal  credit  unions  and  federal
         branches and agencies of foreign banks, in relation to the  effective-
         ness  of certain provisions of such chapter; and to amend chapter 3 of
         the laws of 1997, amending the  banking  law  and  the  insurance  law
         relating  to  authorizing  the banking board to permit banks and trust
         companies to exercise the rights of national banks, in relation to the
         effectiveness of certain provisions of such chapter

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

    1    Section  1. Section 6 of chapter 322 of the laws of 2007, amending the
    2  banking law relating to the  power  of  banks,  private  bankers,  trust
    3  companies,  savings  banks, savings and loan associations, credit unions
    4  and foreign banking corporations to  exercise  the  rights  of  national
    5  banks,  federal  savings associations, federal credit unions and federal
    6  branches and agencies of foreign banks, as amended by section 95 of part
    7  A of chapter 62 of the laws of 2011, is amended to read as follows:
    8    S 6. This act shall take effect immediately;  provided,  however  that
    9  sections  one, two, three and four of this act shall take effect Septem-
   10  ber 1, 2007; and provided further that sections one, two, three and four
   11  of this act shall expire and be deemed  repealed  September  10,  [2014]
   12  2019;  and provided further that any federally permitted powers approved
   13  under section three of this act shall remain in full force and effect on
   14  and after such repeal date and shall not be affected by such repeal.
   15    S 2. Section 7 of chapter 3 of the laws of 1997, amending the  banking
   16  law  and  the insurance law relating to authorizing the banking board to
   17  permit banks and trust companies to  exercise  the  rights  of  national
   18  banks, as amended by section 95-a of part A of chapter 62 of the laws of
   19  2011, is amended to read as follows:

        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14097-01-4
       S. 6735                             2

    1    S  7. This act shall take effect immediately provided that section two
    2  of this act shall take effect on the thirtieth day after it  shall  have
    3  become  a  law and shall apply to violations prescribed in section 44 of
    4  the banking law that occur on or after such date; and  provided  further
    5  that  sections  one,  three,  four  and  five shall expire and be deemed
    6  repealed September 10, [2014] 2019; and provided further that any  rules
    7  and  regulations  promulgated  pursuant to sections one, three, four and
    8  five shall remain in full force and effect on and after such  expiration
    9  date and shall not be affected by such expiration date.
   10    S 3. This act shall take effect immediately.
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