Loading chat...
NY A02600
Bill
Status
6/8/2010
Primary Sponsor
Robert Barra
Click for details
AI Summary
-
Banking organizations and foreign banking corporations operating in New York must cash properly endorsed Social Security checks presented by the payee without requiring an account with the institution.
-
Check cashing applies only to payees aged 62 years or older who provide sufficient identification.
-
Sufficient identification is defined as a picture ID issued by the Department of Motor Vehicles, a sheriff's department, or a banking organization where the check is presented.
-
The act takes effect 60 days after becoming law.
Legislative Description
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".
Last Action
3RD READING CAL.1153
6/24/2010