STATE OF NEW YORK
________________________________________________________________________
7090
2021-2022 Regular Sessions
IN SENATE
May 28, 2021
___________
Introduced by Sen. THOMAS -- read twice and ordered printed, and when
printed to be committed to the Committee on Banks
AN ACT to amend the financial services law, in relation to reporting for
the state charter advisory board; and to amend chapter 62 of the laws
of 2011, relating to constituting chapter 18-A of the consolidated
laws relating to financial services, in relation to extending the
effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 205-b of the financial services law is amended by
2 adding a new undesignated closing paragraph to read as follows:
3 The superintendent shall make an annual report no later than thirty
4 days after the end of each year to the temporary president of the senate
5 and the speaker of the assembly, which shall include a summary of the
6 topics discussed at state charter advisory board meetings during such
7 year, and any legislative recommendations related to the topics raised
8 at such meetings or made by any member of the state charter advisory
9 board.
10 § 2. Subdivision (e) of section 114 of part A of chapter 62 of the
11 laws of 2011, relating to constituting chapter 18-A of the consolidated
12 laws relating to financial services, as amended by chapter 228 of the
13 laws of 2016, is amended to read as follows:
14 (e) section 205-b of the financial services law as added by section
15 one of this act shall expire October 3, [2021] 2026, when upon such date
16 the provisions of such section shall be deemed repealed;
17 § 3. This act shall take effect immediately; provided, however the
18 amendments made to section 205-b of the financial services law made by
19 section one of this act shall not affect the repeal of such section and
20 shall be deemed repealed therewith.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11733-02-1
