Title BNK, Banking

§ 22. Fingerprints. (a) Notwithstanding any other provision of law,\nevery applicant for a license, authorization or registration under\narticles nine, nine-A, eleven-B, twelve-B, twelve-C, twelve-D, twelve-E\nand thirteen-B of this chapter and every applicant filing an applicat…

§ 220. Participation. Notwithstanding any rule at common law or any\nprovision of any general or special law or any provision in their\nrespective charters, agreements of association, articles of\norganization, certificates of incorporation, or trust indentures:\n 1. All domesti…

§ 221-a. Doing business without license prohibited. 1. No person,\nco-partnership, association, corporation or other entity shall\nestablish, maintain or use one or more offices in this state as the\nrepresentative of one or more foreign banking corporations unless the\nforeign …

§ 221-b. Definitions. 1. Banking institution. The term "banking\ninstitution", when used in this article, shall mean any entity\nauthorized by its charter to accept deposits and to make loans.\n 2. Foreign banking corporation. The term "foreign banking\ncorporation", when used i…

§ 221-c. Application for license; fees. The application for such\nlicense shall be in writing under oath and shall contain the information\nrequired by and be in the form prescribed by the superintendent. As part\nof the application, the foreign banking corporation shall appoint…

§ 221-d. Conditions precedent to issuing license; procedure where\napplication denied. Upon the filing of an application for a license, if\nthe superintendent shall find that the financial responsibility,\nexperience, character, and general fitness of the foreign banking\ncorpor…

§ 221-e. License provisions. Each license issued under this article\nshall state the address or addresses at which a representative is to be\nlocated and shall state fully the name of the licensee. Such license\nshall not be transferable or assignable. In the event the location …

§ 221-f. Grounds for suspension or revocation of license; procedure.\n1. The superintendent may revoke any license issued hereunder if it\nshall be found that:\n (a) The licensee or its representative has violated any provision of\nthis article, or of any rule or regulation made…

§ 221-g. Superintendent authorized to examine; expenses. For the\npurpose of discovering violations of this article or securing\ninformation lawfully required by him hereunder, the superintendent may\nat any time, and as often as may be determined, either personally or by\na per…

§ 221-h. Licensee's books and records; reports. A foreign banking\ncorporation licensed pursuant to this article shall keep or cause each\nof its representatives to keep and use such books, accounts and records\nas will enable the superintendent to determine whether the\nreprese…

§ 221-i. Notice of acquisition of control or merger. 1. A foreign\nbanking corporation licensed pursuant to this article to maintain a\nrepresentative office in this state shall file with the superintendent a\nnotice, in such form and containing such information as the\nsuperint…

§ 221-j. Authority of superintendent. The superintendent is hereby\nauthorized and empowered to promulgate, in addition hereto and not\ninconsistent herewith, such general rules and regulations, definitions,\nand such specific rulings, demands and findings as may be deemed\nnece…

§ 221-k. Separability of provisions. If any provision of this article,\nor the application of such provision to any person, entity or\ncircumstance, shall be held invalid, the remainder of the article, and\nthe application of such provision to persons, entities or circumstances\…

§ 222. Definitions. In this article, the following definitions shall\napply:\n 1. The term "out-of-state bank" means an out-of-state state bank, an\nout-of-state national bank, or an out-of-state federal savings\nassociation.\n 2. The term "out-of-state state bank" means a state…

§ 223. Establishment of branches or trust offices by means of an\nacquisition transaction. An out-of-state bank may maintain one or more\nbranches or one or more trust offices located in this state that have\nbeen acquired by means of an acquisition transaction.\n

§ 223-a. Establishment of branches by out-of-state banks by de novo\nbranching. In addition to the authority of an out-of-state bank to\nmaintain a branch or branches by means of an acquisition transaction, an\nout-of-state bank may establish one or more de novo branches in this…

§ 224. Application for the establishment of branches or trust offices\nnot resulting from an acquisition transaction; retention of branches or\ntrust offices resulting from merger or acquisition. 1. An application\nfor approval to the superintendent containing such information a…

§ 224-a. Change of location of branches or trust offices by\nout-of-state state banks or out-of-state state-chartered trust\ncompanies. An application for approval containing such information as\nthe superintendent deems necessary shall be submitted by an out-of-state\nstate ban…

§ 225. Interstate acquisition transactions. 1. An out-of-state bank\nmay engage in an acquisition transaction with a New York bank or with a\nbanking institution located in New York and may maintain as a branch or\nbranches or trust office or trust offices, the branches or trust…

§ 225-a. Power of superintendent to examine branches or trust offices\nof out-of-state state banks or out-of-state state-chartered trust\ncompanies. The superintendent shall have the power at any time in his or\nher discretion to examine every branch or trust office located in t…

§ 225-b. Applicability of certain sections to out-of-state banks. 1.\nExcept as otherwise provided in this section, nothing in article five or\narticle five-B of this chapter shall apply to an out-of-state bank or\nout-of-state trust company authorized to open, occupy and mainta…

§ 226. Powers of out-of-state state banks. An out-of-state state bank\nthat opens, occupies or maintains a branch in this state as authorized\nby this article shall have in this state the same powers under the laws\nof this state as a like-type banking organization.\n

§ 227. Powers permitted to out-of-state branches of New York banks. A\nNew York bank that opens, occupies and maintains one or more branch\noffices in any state may exercise such powers at such branch or branches\nas would be permitted at such place or places to an out-of-state …

§ 227-b. Rules and regulations. The superintendent shall have the\nauthority to promulgate such rules and regulations consistent with the\npurposes of this article, including but not limited to such rules and\nregulations as may define the terms used in this article and as may b…

§ 227-c. Separability of provisions. If any provision of this article,\nor the application of such provision to any person or circumstance shall\nbe held invalid, the remainder of this article, and the application of\nsuch provisions thereof to persons or circumstances other tha…

§ 228-a. Establishment. 1. A small business investment company to be\nknown as the "New York small business investment company," shall be\norganized under the business corporation law and operated so as to\nqualify for licensing under Section 301(c) and applicable regulations. A…

§ 228-b. Definitions. As used in this article, the following terms and\nabbreviations shall have the meanings indicated:\n 1. "NYSBIC" means the New York small business investment company which\nshall be organized and operated in conformity with Section 301(c) and\napplicable re…

§ 228-c. Purposes, powers and operation. 1. (a) The purposes of the\nNYSBIC shall be to serve the needs of the small business community in\nthe state of New York. The NYSBIC shall direct its efforts towards\nproviding small business with start-up, venture, operating or working\n…

§ 228-d. New York small business investment company; board of\ndirectors. 1. The corporate powers of the New York small business\ninvestment companies shall be exercised by a board of directors, which\nshall consist of thirty persons, all of whom shall be of full age,\ncitizens …

§ 228-e. New York specialized small business investment company; board\nof directors. 1. The corporate powers of the New York specialized small\nbusiness investment companies shall be exercised by a board of\ndirectors, which shall consist of thirty persons, all of whom shall be…

§ 228-f. Reports. 1. The investment companies shall make an annual\nreport of their conditions to the governor, the legislature and the\nsuperintendent of financial services, on or before January first of each\nyear.\n 2. Commencing January first, nineteen hundred ninety-five, s…

§ 229. Application.\n 1. This article applies to every savings bank and shall not apply to\nany other banking organization except to such extent, if any, as may be\nspecified in any article of this chapter governing such banking\norganization; provided, however, that in the case …

§ 23. Acceptance or rejection of certificate; investigation fees.\nWithin twenty days after the receipt by the superintendent of any\norganization certificate of a corporation proposed to be organized under\nthis chapter, or any private banker's certificate together with such\nd…

§ 230. Incorporation; organization certificate. When authorized by the\nsuperintendent as provided in article two of this chapter, not less than\nnine nor more than twenty persons may incorporate a savings bank. They\nshall subscribe and acknowledge an organization certificate i…

§ 232. Organization certificate to be submitted to superintendent;\nproof of publication and service of notice of intention. After the lapse\nof at least twenty-eight days from the date of the first due publication\nof the notice of intention to organize and within ten days afte…

§ 233. When corporate existence begins; conditions precedent to\ncommencing business. When the superintendent shall have approved the\norganization certificate, as provided in article two of this chapter,\nthe corporate existence of the savings bank shall begin, and it may\nexer…

§ 234. General powers. Every savings bank shall have, subject to the\nrestrictions and limitations contained in this chapter, the following\npowers:\n 1. To receive and repay deposits, including demand deposits; invest\nits funds; pay interest on deposits; and exercise all such …

§ 234-a. Settlement, modification or readjustment of investment. A\nsavings bank may consent to any settlement, modification or readjustment\nof any investment in securities legally made by such savings bank, and\nmay accept and hold stocks, bonds, notes, securities or other pro…

§ 234-b. Trust powers. 1. The superintendent of financial services is\nauthorized and empowered to grant permission to a savings bank to\nexercise any or all of the powers specified in sections one hundred, one\nhundred-a, one hundred-b and one hundred-c of this chapter. In pass…

§ 235. Investment of funds. A savings bank may invest in the following\nproperty and securities and no others:\n 1. Obligations of the United States, or those for which the faith of\nthe United States is pledged to provide for the payment of the interest\nand principal, or those…

§ 235-b. Effect of usury. The knowingly taking, receiving, reserving,\nor charging by a savings bank of interest at a rate greater than six per\ncentum per annum, as computed pursuant to this section, or in excess of\nsuch greater rate of interest as may be authorized by law, sh…

§ 235-c. Regulation of certain charges. The superintendent of\nfinancial services shall have the power to prescribe by regulation (i)\nthe maximum charge which may be imposed in this state by a savings bank\nin connection with a check or other written order drawn upon it on\nins…

§ 235-d. Service corporations owned by savings banks; authorized\nactivities of such corporations; investment therein. 1. A savings bank\nmay invest in the stock, capital notes and debentures of one or more\nservice corporations organized under the laws of this state for the sol…

§ 236. Deposits by savings banks with other banking corporations and\nprivate bankers; restrictions. 1. Except for investments made pursuant\nto subdivision twelve-a of section two hundred thirty-five of this\nchapter, no savings bank shall deposit any of its funds with any othe…

§ 237. Deposits with savings banks; restrictions. 1. No savings bank\nshall accept any deposit for credit to any executor, administrator,\ntrustee, committee, conservator or guardian, named in a will or\nappointed by a court of competent jurisdiction, unless a certified copy\nof…

§ 238. Regulations and restrictions as to repayment of deposits. 1.\nThe repayment of deposits made with any savings bank and any interest\ncredited thereto, shall be subject to the provisions of this chapter and\nto rules and regulations made in accordance therewith. Any such\n…

§ 239. Repayment of deposits of minors, trust deposits, joint\ndeposits, and deposits adversely claimed; interpleader in certain\nactions; statute of limitations. 1. Any deposit made by or in the name\nof any minor shall be held for the exclusive right and benefit of such\nminor…

§ 239-a. Preservation of books and records. Every savings bank shall\npreserve all its records of final entry, including cards used under the\ncard system and deposit tickets, for a period of at least six years from\nthe date of making the same or from the date of the last entry…

§ 24. Investigation by superintendent; refusal or approval; filing\ncertificate. 1. Within ninety days after the date when any organization\ncertificate or private banker's certificate shall have been filed for\nexamination, the superintendent, if the superintendent shall find a…

§ 240. Restrictions as to place of business; branch offices. 1. A\nsavings bank shall not be located in the same room with or in a room\nconnecting with any bank, trust company or national bank, unless it be a\nsavings bank lawfully so located when this act takes effect. The\npr…