Bill
Bill > A02149
NY A02149
NY A02149Prohibits a bank or trust company from charging a service charge or requiring a minimum balance for attorney trust or IOLA accounts that are non-interest bearing in nature; defines attorney trust account.
summary
Introduced
01/23/2023
01/23/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the banking law, in relation to attorney trust accounts
AI Summary
This bill prohibits banks and trust companies regulated by the state of New York from charging a service fee or requiring a minimum balance on attorney trust accounts, provided that the account is non-interest bearing or an IOLA (Interest on Lawyer Accounts) account and has no more than 15 debit or credit transactions per month. The bill defines an "attorney trust account" as a special banking or checking account required by law or court rule for the deposit of funds belonging to law clients or other persons in the practice of law.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
referred to banks (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/A2149 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02149&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02149 |
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