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NY A01640
Bill
Status
1/12/2015
Primary Sponsor
Kenneth Zebrowski
Click for details
AI Summary
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Banking institutions must cash checks of $500 or less drawn on their own accounts if sufficient funds exist in the account.
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Payees may be required to present a valid government-issued photo identification card as a condition for cashing a check.
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Banking institutions that refuse to cash a check when presented with valid identification and a signature or mark are guilty of a violation, unless criminal activity is involved.
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The law applies to all banking institutions as defined in Section 9-F of the Banking Law.
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The act takes effect 90 days after becoming law.
Legislative Description
Provides that a banking institution must cash checks drawn on said institution, if payee presents a form of valid identification; provides a refusal to cash such check after identification, makes such institution guilty of a violation.
Last Action
referred to banks
1/6/2016