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S02420 Summary:

S02420 Actions:

S02420 Committee Votes:

S02420 Floor Votes:

S02420 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         2420--B
            Cal. No. 531
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                    January 13, 2017
                                       ___________
 
        Introduced  by  Sens. GRIFFO, RITCHIE -- read twice and ordered printed,
          and when printed to be committed to the Committee on Banks -- reported
          favorably from said committee, ordered to  first  and  second  report,
          ordered  to  a third reading, amended and ordered reprinted, retaining
          its place in the order of third reading -- again amended  and  ordered
          reprinted, retaining its place in the order of third reading
 
        AN ACT to amend the general municipal law, in relation to the definition
          of  eligible  securities in relation to obligations of domestic corpo-
          rations
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.    Subparagraph  (viii) of paragraph f of subdivision 1 of
     2  section 10 of the general municipal law, as amended by  chapter  623  of
     3  the laws of 1998, is amended to read as follows:
     4    (viii)  Obligations of domestic corporations rated in one of the [two]
     5  four highest rating categories by at  least  one  nationally  recognized
     6  statistical rating organization.
     7    §  2. This act shall take effect on the first of January next succeed-
     8  ing the date on which it shall have become a law.
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01882-05-7