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NY S08356
Bill
Status
5/3/2018
Primary Sponsor
Elaine Phillips
Click for details
AI Summary
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Requires the superintendent of banks to establish an abbreviated application for banks, trust companies, or national banks with total assets under $5 billion seeking to participate in the banking development district program.
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Limits the abbreviated application to no more than three pages and designed to be completed in less than one hour.
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Mandates creation of a dedicated unit within the banking division to assist eligible institutions with completing and submitting applications.
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Requires the dedicated unit to provide ongoing assistance to banks, trust companies, or national banks operating in banking development districts with program participation.
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Takes effect 90 days after becoming law.
Legislative Description
Authorizes certain banks, trust companies or national banks which are eligible and seeking to participate in the banking development district program and which have total assets of less than five billion dollars to have an abbreviated application for participation.
Last Action
COMMITTED TO RULES
6/20/2018