Folder 137

NYC 9/11 Public Portal Document

OCT-03-2001 15:41 NYC LEG OFFICE 212 566 0925 P.11/14

flights involved in the disasters on that date, or was a police officer, fire fighter, emergency medical service provider, or rescue volunteer at one of those buildings sites on that date who is missing or deceased; and for such a customer, the definition of "customer" in 4-104 (e) (1) of the New York Uniform Commercial Code is modified and altered to include within such definition any person who has presented an affidavit (in a form to be determined by the Superintendent of Banks) by which such person states:

(i) that he or she is the spouse of such customer, or if there shall be no spouse, the legal guardian of such customer's minor children, or if there shall be no spouse and no legal guardian shall have been appointed, the person with whom such customer's minor children shall reside; and

(ii) that he or she has not sought payment of an item or items, together with any redemption of money market mutual fund shares, with respect to accounts held solely in the name of such customer, in excess of $15,000 in the aggregate.

Suspends Section 4-405 of the New York Uniform Commercial Code, to the extent that the death of a customer would revoke the authority of a bank to pay the item or items on the order of the person who presents an affidavit by which such person states that he or she is the spouse of a customer, the legal guardian of such customer's minor children, or the person with whom such customer's minor children shall reside, as provided for in the suspension and modification of 4-104 (e) (1).

Suspends Section 8-107 of the New York Uniform Commercial Code in order to modify the definition of "appropriate person" for the purpose of redemption of money market mutual fund shares of a person that was either employed in the World Trade Center or the Pentagon, or was in such buildings, or in the immediate vicinity, or was a crew member or passenger on any of the airline fl ights involved, or was a police officer, fire fighter, emergency medical service provider, or rescue volunteer at one of those building sites on that date who is missing or deceased, to the extent New York Law applies, in order to include, with respect to an indorsement,

NYC-WTC 000136314