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NY A03533
Bill
Status
Introduced
1/25/2011
Primary Sponsor
Peter Rivera
Click for details
AI Summary
- Adds section 351-a to banking law authorizing licensed lenders to issue credit cards, extend credit in connection with credit cards, and engage in credit card operations under personal property law article ten
- Amends personal property law section 301 subdivision 9 to include "licensed lender as defined under article nine of the banking law" in the definition of "financing agency"
- Amends personal property law section 401 subdivision 18 to include "licensed lender as defined under article nine of the banking law" in the definition of "financing agency" for retail installment contracts and credit agreements
- Takes effect immediately upon enactment
Legislative Description
Authorizes licensed lenders to issue credit cards and act as financing agencies.
Last Action
enacting clause stricken
9/4/2012
Committee Referrals
Banks4/28/2011
Ways and Means1/25/2011
Full Bill Text
No bill text available