Bill Text: NY S02245 | 2019-2020 | General Assembly | Introduced

New York Senate Bill 2245 (Prior Session Legislation)

Introduced

Bill Title: Increases the number of authorized withdrawal transactions at no charge from basic banking accounts for account holders sixty-five years of age or older from eight to twelve.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2019-09-13 - signed chap.260 [S02245 Detail]

Download: New_York-2019-S02245-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________
                                          2245
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 23, 2019
                                       ___________
        Introduced  by  Sen. SANDERS -- 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 number of withdrawal
          transactions from a basic banking account
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (c) of subdivision 2 of section 14-f of the bank-
     2  ing  law, as added by chapter 1 of the laws of 1994 and such subdivision
     3  as further amended by section 104 of part A of chapter 62 of the laws of
     4  2011, is amended to read as follows:
     5    (c) eight withdrawal transactions for account holders under sixty-five
     6  years of age, and twelve withdrawal  transactions  for  account  holders
     7  sixty-five years of age or older, including those conducted at electron-
     8  ic  facilities, during any periodic cycle at no additional charge to the
     9  account holder; and
    10    § 2. This act shall take effect on the sixtieth  day  after  it  shall
    11  have become a law.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01464-01-9