Bill Text: NY S02226 | 2015-2016 | General Assembly | Introduced

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Bill Title: Directs every banking organization or foreign banking corporation transacting business in this state to cash properly endorsed social security checks presented by the payee, upon sufficient identification, notwithstanding the fact that such payee does not maintain an account with such organization or corporation, upon proof that such payee is sixty-two years of age or older; defines "sufficient identification".

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO BANKS [S02226 Detail]

Download: New_York-2015-S02226-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         2226
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   January 22, 2015
                                      ___________
       Introduced  by  Sen. PERALTA -- 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  negotiation  of
         social security checks
         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 6-n  to
    2  read as follows:
    3    S  6-N. NEGOTIATING SOCIAL SECURITY CHECKS. EVERY BANKING ORGANIZATION
    4  OR FOREIGN BANKING CORPORATION TRANSACTING BUSINESS IN THIS STATE  SHALL
    5  CASH  PROPERLY  ENDORSED  SOCIAL SECURITY CHECKS PRESENTED BY THE PAYEE,
    6  UPON SUFFICIENT IDENTIFICATION, NOTWITHSTANDING THE FACT THAT SUCH PAYEE
    7  DOES NOT MAINTAIN AN ACCOUNT WITH SUCH ORGANIZATION OR CORPORATION, UPON
    8  PROOF THAT SUCH PAYEE IS SIXTY-TWO YEARS OF AGE OR OLDER.  FOR  PURPOSES
    9  OF  THIS SECTION, "SUFFICIENT IDENTIFICATION" SHALL MEAN A PICTURE IDEN-
   10  TIFICATION CARD ISSUED TO SUCH PAYEE BY THE DEPARTMENT  OF  MOTOR  VEHI-
   11  CLES,  A SHERIFF'S DEPARTMENT OR A BANKING ORGANIZATION WHERE SUCH CHECK
   12  IS PRESENTED FOR PAYMENT.
   13    S 2. This act shall take effect on the sixtieth  day  after  it  shall
   14  have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00383-01-5