New York State Assembly

Bill No.:  

 
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S03491 Summary:

BILL NO	S03491
SAME AS	SAME AS A00167
SPONSOR	FOLEY
COSPNSR
MLTSPNSR
Amd S6-k, Bank L
Provides a definition of the word "timely" for purposes of real property insurance escrow accounts.

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S03491 Actions:

BILL NO	S03491
03/20/2009	REFERRED TO BANKS
01/06/2010	REFERRED TO BANKS

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S03491 Floor Votes:

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S03491 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          3491
 
                               2009-2010 Regular Sessions
 
                    IN SENATE
 
                                     March 20, 2009
                                       ___________
 
        Introduced  by  Sen.  FOLEY  -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks
 
        AN ACT to amend the banking law, in relation to the  definition  of  the
          word "timely" for real property insurance escrow accounts
 
          The  People of the State of New York, represented in Senate and Assem-

        bly, do enact as follows:
 
     1    Section 1. Subdivision 1 of section 6-k of the banking law is  amended
     2  by adding a new paragraph (f) to read as follows:
     3    (f) "Timely" shall mean ten days prior to the date on which real prop-
     4  erty insurance premiums are due and payable.
     5    §  2.  This  act shall take effect on the ninetieth day after it shall
     6  have become a law.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00317-01-9

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