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NY A09079
Bill
Status
7/27/2009
Primary Sponsor
Ginny Fields
Click for details
AI Summary
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Expands the definition of "public deposits" in General Municipal Law to include savings banks, savings and loan associations, and credit unions, in addition to banks and trust companies
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Adds new definitions for credit unions (state or federally chartered), savings banks, and savings and loan associations under General Municipal Law Section 10
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Requires local governments to forward copies of resolutions designating depositaries to the State Comptroller for record-keeping purposes
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Extends the same deposit security requirements and procedures to savings banks, savings and loan associations, and credit unions as currently apply to banks and trust companies
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Amends State Finance Law to authorize deposits of state moneys in savings banks, savings and loan associations, and credit unions alongside traditional banks and trust companies
Legislative Description
Establishes the savings bank, savings and loan association or credit union municipal deposit program; defines credit unions, savings banks, and savings and loan associations; state comptroller shall retain copy of resolution designating a bank, savings bank, savings and loan association.
Last Action
referred to banks
1/6/2010