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NY S00077
Bill
Status
1/5/2011
Primary Sponsor
Jose Peralta
Click for details
AI Summary
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Requires all banking organizations and foreign banking corporations operating in New York to cash properly endorsed Social Security checks from payees aged 62 or older, regardless of whether the payee maintains an account with the institution.
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Defines "sufficient identification" as a picture identification card issued by the Department of Motor Vehicles, a sheriff's department, or a banking organization where the check is presented.
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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
REFERRED TO BANKS
1/5/2011