Bill Text: NY S00191 | 2015-2016 | General Assembly | Introduced

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Bill Title: Requires notice to renters of safe deposit boxes regarding fees and charges.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO BANKS [S00191 Detail]

Download: New_York-2015-S00191-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          191
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 7, 2015
                                      ___________
       Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
         printed to be committed to the Committee on Banks
       AN ACT to amend the banking law, in  relation  to  requiring  notice  to
         renters of safe deposit boxes regarding fees and charges
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The banking law is amended by adding a new section  339  to
    2  read as follows:
    3    S  339.  NOTICE  TO  RENTERS  OF SAFE DEPOSIT BOXES REGARDING FEES AND
    4  CHARGES. 1. ANY BANKING  ORGANIZATION  OR  SAFE  DEPOSIT  COMPANY  WHICH
    5  OFFERS SAFE DEPOSIT BOXES FOR RENT SHALL PROVIDE IN THE RENTAL AGREEMENT
    6  REQUIRED  PURSUANT TO SECTION THREE HUNDRED THIRTY-EIGHT OF THIS ARTICLE
    7  A SCHEDULE OF ALL FEES AND CHARGES APPLICABLE TO THE RENTAL OF SUCH SAFE
    8  DEPOSIT BOX IN AT LEAST FOURTEEN POINT TYPE. ALL SUCH FEES  AND  CHARGES
    9  IMPOSED UPON LESSEES OF SAFE DEPOSIT BOXES SHALL BE DEEMED REASONABLE BY
   10  THE SUPERINTENDENT.
   11    2.  ANY BANKING ORGANIZATION OR SAFE DEPOSIT COMPANY WHICH OFFERS SAFE
   12  DEPOSIT BOXES FOR RENT SHALL INCLUDE IN ITS ANNUAL REPORT TO THE  SUPER-
   13  INTENDENT REQUIRED PURSUANT TO SECTION THREE HUNDRED TWENTY-NINE OF THIS
   14  CHAPTER  A  SCHEDULE  OF ALL FEES AND CHARGES IMPOSED ON LESSEES FOR THE
   15  RENTAL OF SAFE DEPOSIT BOXES.
   16    3. NO RENTAL AGREEMENT FOR THE RENTAL OF  A  SAFE  DEPOSIT  BOX  SHALL
   17  IMPOSE  ANY  FEE  OR CHARGE UPON A LESSEE, OR ANYONE WHO WOULD OTHERWISE
   18  HAVE ACCESS TO SUCH SAFE DEPOSIT BOX, FOR GAINING ACCESS  TO  SUCH  SAFE
   19  DEPOSIT  BOX WHERE AN ACT OF GOD, COMMON DISASTER OR EMERGENCY SITUATION
   20  HAS OCCURRED RENDERING THE LESSEE UNABLE TO  ACCESS  SUCH  SAFE  DEPOSIT
   21  BOX.    THE  SUPERINTENDENT  SHALL  PROMULGATE  ANY RULES OR REGULATIONS
   22  NECESSARY FOR CARRYING OUT THE PROVISIONS OF THIS SECTION.
   23    S 2. This act shall take effect immediately and  shall  apply  to  all
   24  safe deposit box rental agreements entered into on or after such date.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00846-01-5