STATE OF NEW YORK
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4432
2015-2016 Regular Sessions
IN ASSEMBLY
January 30, 2015
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Introduced by M. of A. SILVER, KIM, MARKEY -- Multi-Sponsored by -- M.
of A. CYMBROWITZ -- read once and referred to the Committee on Banks
AN ACT to amend the banking law, in relation to requiring notice to
renters of safe deposit boxes regarding fees and charges
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 339 to
2 read as follows:
3 § 339. Notice to renters of safe deposit boxes regarding fees and
4 charges. 1. Any banking organization or safe deposit company which
5 offers safe deposit boxes for rent shall provide in the rental agreement
6 required pursuant to section three hundred thirty-eight of this article
7 a schedule of all fees and charges applicable to the rental of such safe
8 deposit box in at least fourteen point type. All such fees and charges
9 imposed upon lessees of safe deposit boxes shall be deemed reasonable by
10 the superintendent.
11 2. Any banking organization or safe deposit company which offers safe
12 deposit boxes for rent shall include in its annual report to the super-
13 intendent required pursuant to section three hundred twenty-nine of this
14 chapter a schedule of all fees and charges imposed on lessees for the
15 rental of safe deposit boxes.
16 3. No rental agreement for the rental of a safe deposit box shall
17 impose any fee or charge upon a lessee, or anyone who would otherwise
18 have access to such safe deposit box, for gaining access to such safe
19 deposit box where an act of God, common disaster or emergency situation
20 has occurred rendering the lessee unable to access such safe deposit
21 box. The superintendent shall promulgate any rules or regulations
22 necessary for carrying out the provisions of this section.
23 § 2. This act shall take effect immediately and shall apply to all
24 safe deposit box rental agreements entered into on or after such date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00846-01-5
