Bill
Bill > A07482
NY A07482
NY A07482Regulates commercial finance licensing; sets forth the application process for such licensing; makes conforming technical changes thereto.
summary
Introduced
05/25/2023
05/25/2023
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 and the administrative code of the city of New York, in relation to regulating commercial finance licensing
AI Summary
This bill regulates commercial finance licensing in New York state. It establishes an application process and licensing requirements for entities that engage in the business of making or soliciting commercial financing products to businesses located in New York. The bill defines what qualifies as a "commercial financing product" and includes provisions around exemptions, suspension or revocation of licenses, examinations, advertising, and penalties for violations. The bill also makes conforming technical changes to existing banking 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/A7482 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A07482&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A07482 |
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