Title BNK, Banking

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

§ 220. Participation. Notwithstanding any rule at common law or any provision of any general or special law or any provision in their respective charters, agreements of association, articles of organization, certificates of incorporation, or trust indentures: 1. All domestic cor…

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

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

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

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

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

§ 221-f. Grounds for suspension or revocation of license; procedure. 1. The superintendent may revoke any license issued hereunder if it shall be found that: (a) The licensee or its representative has violated any provision of this article, or of any rule or regulation made by t…

§ 221-g. Superintendent authorized to examine; expenses. For the purpose of discovering violations of this article or securing information lawfully required by him hereunder, the superintendent may at any time, and as often as may be determined, either personally or by a person …

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

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

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

§ 221-k. Separability of provisions. If any provision of this article, or the application of such provision to any person, entity or circumstance, shall be held invalid, the remainder of the article, and the application of such provision to persons, entities or circumstances oth…

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

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

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

§ 224. Application for the establishment of branches or trust offices not resulting from an acquisition transaction; retention of branches or trust offices resulting from merger or acquisition. 1. An application for approval to the superintendent containing such information as h…

§ 224-a. Change of location of branches or trust offices by out-of-state state banks or out-of-state state-chartered trust companies. An application for approval containing such information as the superintendent deems necessary shall be submitted by an out-of-state state bank or…

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

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

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

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

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

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

§ 227-c. Separability of provisions. If any provision of this article, or the application of such provision to any person or circumstance shall be held invalid, the remainder of this article, and the application of such provisions thereof to persons or circumstances other than t…

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

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

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

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

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

§ 228-f. Reports. 1. The investment companies shall make an annual report of their conditions to the governor, the legislature and the superintendent of financial services, on or before January first of each year. 2. Commencing January first, nineteen hundred ninety-five, such a…

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

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

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

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

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

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

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

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

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

§ 235-b. Effect of usury. The knowingly taking, receiving, reserving, or charging by a savings bank of interest at a rate greater than six per centum per annum, as computed pursuant to this section, or in excess of such greater rate of interest as may be authorized by law, shall…

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

§ 235-d. Service corporations owned by savings banks; authorized activities of such corporations; investment therein. 1. A savings bank may invest in the stock, capital notes and debentures of one or more service corporations organized under the laws of this state for the sole a…

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

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

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

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

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

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

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