Bill Text: NY S02420 | 2017-2018 | General Assembly | Amended
Bill Title: Relates to the definition of eligible securities in relation to obligations of domestic corporations.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2018-12-21 - SIGNED CHAP.424 [S02420 Detail]
Download: New_York-2017-S02420-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 2420--B Cal. No. 531 2017-2018 Regular Sessions IN SENATE January 13, 2017 ___________ Introduced by Sens. GRIFFO, RITCHIE -- read twice and ordered printed, and when printed to be committed to the Committee on Banks -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading -- again amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the general municipal law, in relation to the definition of eligible securities in relation to obligations of domestic corpo- rations The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (viii) of paragraph f of subdivision 1 of 2 section 10 of the general municipal law, as amended by chapter 623 of 3 the laws of 1998, is amended to read as follows: 4 (viii) Obligations of domestic corporations rated in one of the [two] 5 four highest rating categories by at least one nationally recognized 6 statistical rating organization. 7 § 2. This act shall take effect on the first of January next succeed- 8 ing the date on which it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD01882-05-7