Bill Text: NY S02911 | 2013-2014 | General Assembly | Introduced
Bill Title: Prohibits employer withdrawal from direct deposit account without notice to and permission from account owner, who must be given 15 days notice of withdrawal and must give depository bank written permission therefor; provides that this section shall not be construed to supersede any such withdrawal otherwise authorized by law or court order.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2014-01-08 - REFERRED TO BANKS [S02911 Detail]
Download: New_York-2013-S02911-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
2911
2013-2014 Regular Sessions
I N S E N A T E
January 25, 2013
___________
Introduced by Sen. PARKER -- 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 certain withdrawals from
accounts to which direct deposits have been authorized
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 8-a to
2 read as follows:
3 S 8-A. DIRECT DEPOSIT AGREEMENTS WITH EMPLOYERS. NO DIRECT DEPOSIT
4 AGREEMENT WITH AN EMPLOYER SHALL AUTHORIZE ANY WITHDRAWALS FROM THE
5 ACCOUNT INTO WHICH SUCH DIRECT DEPOSITS ARE TO BE MADE BY ANYONE OTHER
6 THAN THE ACCOUNT OWNER, UNLESS AT LEAST FIFTEEN DAYS' WRITTEN NOTICE IS
7 GIVEN BY THE DEPOSITORY BANKING ORGANIZATION TO SUCH OWNER. SUCH NOTICE
8 SHALL BE SENT BY REGULAR MAIL TO THE ACCOUNT OWNER'S LAST KNOWN ADDRESS
9 ON RECORD. THIS SECTION SHALL NOT BE CONSTRUED TO SUPERSEDE ANY SUCH
10 WITHDRAWAL OTHERWISE AUTHORIZED BY LAW OR ORDER OF A COURT OF COMPETENT
11 JURISDICTION.
12 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD06742-01-3
