Bill Text: NY S06235 | 2015-2016 | General Assembly | Introduced

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Bill Title: Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO BANKS [S06235 Detail]

Download: New_York-2015-S06235-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6235
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 6, 2016
                                      ___________
       Introduced  by Sen. HAMILTON -- 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 check cashing policies
         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 9-x to
    2  read as follows:
    3    S 9-X. CASHING OF CERTAIN CHECKS. 1. NO BANKING  INSTITUTION  AS  SUCH
    4  TERM  IS DEFINED IN SECTION NINE-F OF THIS ARTICLE SHALL, REFUSE TO CASH
    5  CHECKS, IN THE AMOUNT OF FIVE HUNDRED DOLLARS OR LESS, DRAWN ON ACCOUNTS
    6  IN SUCH INSTITUTION OR A BRANCH AS LONG AS THERE  ARE  SUFFICIENT  FUNDS
    7  WITHIN  THE  ACCOUNT  ON WHICH THE CHECK IS DRAWN.  SUCH INSTITUTION MAY
    8  REQUIRE, AS A CONDITION FOR CASHING SUCH CHECK, THAT THE PAYEE PRESENT A
    9  VALID GOVERNMENT-ISSUED PHOTO IDENTIFICATION CARD.
   10    2. IF A PERSON PRESENTS A  FORM  OF  IDENTIFICATION,  AS  PROVIDED  IN
   11  SUBDIVISION ONE OF THIS SECTION, AND A SIGNATURE OR MARK, AND THE INSTI-
   12  TUTION  REFUSES  TO  CASH THE CHECK IN THE ABSENCE OF CRIMINAL ACTIVITY,
   13  SUCH INSTITUTION SHALL BE GUILTY OF A VIOLATION OF THIS SECTION.
   14    S 2. This act shall take effect on the ninetieth day  after  it  shall
   15  have become a law.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00411-03-5