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NY A05580
Bill
Status
3/1/2013
Primary Sponsor
Sheldon Silver
Click for details
AI Summary
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Requires banking organizations and safe deposit companies to include a schedule of all fees and charges in safe deposit box rental agreements in at least 14-point type
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Mandates that banking organizations and safe deposit companies report all safe deposit box rental fees and charges to the state Superintendent in their annual reports
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Prohibits charging renters any fees or access charges when an act of God, common disaster, or emergency situation prevents access to a safe deposit box
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Directs the Superintendent to promulgate rules and regulations necessary to implement these provisions
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Takes effect immediately and applies to all safe deposit box rental agreements entered into on or after the effective date
Legislative Description
Requires notice to renters of safe deposit boxes regarding fees and charges.
Last Action
referred to banks
1/8/2014