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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6235
IN SENATE(Prefiled)
January 6, 2016
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Introduced by Sen. HAMILTON -- 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 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.
LBD00411-03-5
