New York S03894 prohibits certain public authorities, commissions, or public benefit corporations from depositing moneys in specific banking.

New York S03894 amends the public authorities law by adding a new section 2891, which prohibits certain public authorities, commissions, or public benefit corporations from depositing their moneys in banking institutions subject to the Community Reinvestment Act of 1977 unless those institutions have received a record of performance no lower than satisfactory under the act. This act takes effect 180 days after becoming law.

New York S03894 prohibits certain public authorities, commissions, or public benefit corporations from depositing moneys in specific banking.

New York S03894 amends the public authorities law by adding a new section 2891, which prohibits certain public authorities, commissions, or public benefit corporations from depositing their moneys in banking institutions subject to the Community Reinvestment Act of 1977 unless those institutions have received a record of performance no lower than satisfactory under the act. This act takes effect 180 days after becoming law.