Directs every banking organization or foreign banking corporation transacting business in this state to cash properly endorsed social security checks presented by the payee, upon sufficient identification, notwithstanding the fact that such payee does not maintain an account with such organization or corporation, upon proof that such payee is sixty-two years of age or older; defines "sufficient identification".
STATE OF NEW YORK
________________________________________________________________________
4267
2011-2012 Regular Sessions
IN ASSEMBLY
February 2, 2011
___________
Introduced by M. of A. MARKEY, MAYERSOHN, WRIGHT, SCHROEDER -- Multi-
Sponsored by -- M. of A. COLTON, CYMBROWITZ, GLICK, GOTTFRIED, HOOP-
ER, MAGEE, McENENY, MILLMAN, PERRY, PHEFFER, REILLY, SCARBOROUGH,
WEISENBERG -- read once and referred to the Committee on Banks
AN ACT to amend the banking law, in relation to the negotiation of
social security checks
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The banking law is amended by adding a new section 6-n to
2 read as follows:
3 § 6-n. Negotiating social security checks. Every banking organization
4 or foreign banking corporation transacting business in this state shall
5 cash properly endorsed social security checks presented by the payee,
6 upon sufficient identification, notwithstanding the fact that such payee
7 does not maintain an account with such organization or corporation, upon
8 proof that such payee is sixty-two years of age or older. For purposes
9 of this section, "sufficient identification" shall mean a picture iden-
10 tification card issued to such payee by the department of motor vehi-
11 cles, a sheriff's department or a banking organization where such check
12 is presented for payment.
13 § 2. This act shall take effect on the sixtieth day after it shall
14 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD03358-01-1
