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NY A04432

Bill

Official Source

Status

Introduced

1/30/2015

Primary Sponsor

Sheldon Silver

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Banking organizations and safe deposit companies must include a schedule of all fees and charges in safe deposit box rental agreements in at least 14-point type
  • All banking organizations and safe deposit companies must report all safe deposit box fees and charges to the superintendent in their annual reports
  • Rental agreements cannot impose fees or charges for accessing safe deposit boxes when an act of God, common disaster, or emergency situation prevents access
  • The superintendent shall promulgate rules and regulations necessary to implement these provisions
  • The act 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

enacting clause stricken

12/1/2015

Committee Referrals

Banks1/30/2015

Full Bill Text

No bill text available