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NY A03511
Bill
Status
Introduced
1/28/2013
Primary Sponsor
Annette Robinson
Click for details
AI Summary
- Requires banking institutions to pay checks in the order they are presented for payment
- Allows banks to dishonor a check for insufficient funds
- Requires banks to honor smaller checks that are subsequently presented if sufficient funds become available to cover them
- Applies to all banking institutions that provide checking accounts to customers
- Takes effect on January 1st following enactment into law
Legislative Description
Provides that every banking institution which maintains checking accounts for customers shall pay checks in the order received within account balance; provides such banks may dishonor check for insufficient funds, but then must honor smaller checks within amounts on deposit in the subject account.
Last Action
advanced to third reading cal.535
4/3/2014
Committee Referrals
Codes4/1/2014
Banks1/8/2014
Codes2/11/2013
Banks1/28/2013
Full Bill Text
No bill text available