Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.
STATE OF NEW YORK
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9139
IN ASSEMBLY
January 23, 2020
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Introduced by M. of A. ABINANTI -- read once and referred to the Commit-
tee on Banks
AN ACT to amend the banking law, in relation to check cashing policies
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 9-x to
2 read as follows:
3 § 9-x. Cashing of certain checks. 1. No banking institution as such
4 term is defined in section nine-f of this article shall, refuse to cash
5 checks, in the amount of five hundred dollars or less, drawn on accounts
6 in such institution or a branch as long as there are sufficient funds
7 within the account on which the check is drawn. Such institution may
8 require, as a condition for cashing such check, that the payee present a
9 valid government-issued photo identification card.
10 2. If a person presents a form of identification, as provided in
11 subdivision one of this section, and a signature or mark, and the insti-
12 tution refuses to cash the check in the absence of criminal activity,
13 such institution shall be guilty of a violation of this section.
14 § 2. This act shall take effect on the ninetieth day after it shall
15 have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD06176-01-9
