™Your Policy Risk Impact Agent
0 chapters · 899 sections in this title.
N.Y. Banking Law § 240-A Electronic facilities
0.8K chars
§ 240-a. Electronic facilities. A savings bank may conduct a banking business, at automated teller machines, point-of-sale terminals, and similar facilities subject to regulations which may be promulgated by the superintendent of financial services. Such facilities shall not be …
N.Y. Banking Law § 240-B Acceptance of United States currency
0.5K chars
§ 240-b. Acceptance of United States currency. No savings bank shall impose a fee, commission or service charge for accepting for deposit or exchanging for other United States currency any United States currency provided that any coins are properly rolled and have the customer's…
N.Y. Banking Law § 241 Change of location; change of designation of principal office
0.9K chars
§ 241. Change of location; change of designation of principal office. Any savings bank may make a written application to the superintendent, such application to be accompanied by an investigation fee as prescribed pursuant to section eighteen-a of this chapter, for leave to chan…
N.Y. Banking Law § 242 Assets; how entered and carried on books; disallowance by superintendent
3.1K chars
§ 242. Assets; how entered and carried on books; disallowance by superintendent. 1. No savings bank shall by any system of accounting or any device of bookkeeping, directly or indirectly enter any of its assets upon its books in the name of any individual, partnership or unincor…
N.Y. Banking Law § 243 Surplus fund
2.1K chars
§ 243. Surplus fund. 1. Every savings bank shall create a fund to be known as a surplus fund. Such fund may be created or increased by contributions made by the incorporators as provided in this article or by transfers from undivided profits or by transfers from earnings as requ…
N.Y. Banking Law § 244 Earnings; how and when to be computed; transfers to surplus fund
3.8K chars
§ 244. Earnings; how and when to be computed; transfers to surplus fund. 1. Every savings bank shall close its books no less frequently than quarterly. To determine the amount of gross earnings for any such accounting period the following items shall be included: (a) All earning…
N.Y. Banking Law § 245 Interest payments
2.1K chars
§ 245. Interest payments. 1. A savings bank may classify its depositors according to the character, amount or duration of their dealings with the savings bank. 2. In the discretion of a majority of all the trustees, the amounts contributed by incorporators or trustees to the sur…
N.Y. Banking Law § 246 Board of trustees; number; vacancies; qualifications; oath and declaration
7.3K chars
§ 246. Board of trustees; number; vacancies; qualifications; oath and declaration. 1. (a) The board of trustees shall have the entire management and control of the affairs of the savings bank. A savings bank shall have such number of trustees as the board of trustees may establi…
N.Y. Banking Law § 246-A Executive committee and other committees
1.9K chars
§ 246-a. Executive committee and other committees. 1. If the organization certificate or the by-laws so provide, the board of trustees by resolution adopted by a majority of the entire board, may designate from among its members an executive committee consisting of at least five…
N.Y. Banking Law § 247 Restrictions upon trustees and officers
7.0K chars
§ 247. Restrictions upon trustees and officers. 1. A trustee of a savings bank shall not (a) Have any interest, direct or indirect, in the profits of the savings bank, but may receive interest upon the amounts contributed by him or her to the surplus fund, may make deposits in t…
N.Y. Banking Law § 248 Removal and forfeiture of office of trustee
3.0K chars
§ 248. Removal and forfeiture of office of trustee. 1. Whenever the conduct and habits of a trustee are of such a character as to be injurious to the savings bank, or a trustee has been guilty of acts that are detrimental or hostile to the interests of the savings bank, he may b…
N.Y. Banking Law § 249 Compensation of trustees and officers
1.3K chars
§ 249. Compensation of trustees and officers. 1. A trustee of a savings bank shall not directly or indirectly receive any pay or emolument for any services rendered to the savings bank, except as provided in this section. 2. A trustee may, by affirmative vote of a majority of al…
N.Y. Banking Law § 25 Authorization certificate; when and to whom issued; contents; filing and recording
3.5K chars
§ 25. Authorization certificate; when and to whom issued; contents; filing and recording. 1. If the superintendent shall find that a corporation or private banker, the certificate of which has been approved and filed as provided in section twenty-four of this article, has in goo…
N.Y. Banking Law § 25-A Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions
1.4K chars
* § 25-a. Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions. 1. Notwithstanding any other provision of law to the contrary, the superintendent is authorized to file and approve the organization certificate o…
N.Y. Banking Law § 250 Pensions; insurance
0.8K chars
§ 250. Pensions; insurance. Subject to such regulations as the superintendent of financial services may prescribe, a savings bank may, in the discretion of a majority of all the trustees: 1. Provide pensions to officers and employees pursuant to a nondiscriminatory plan for serv…
N.Y. Banking Law § 251 Meetings; quorum; by-laws; officers
3.9K chars
§ 251. Meetings; quorum; by-laws; officers. 1. Regular meetings of the board of trustees shall be held at least once a month, unless otherwise provided by the by-laws. The board of trustees shall hold not less than ten regular monthly meetings per year provided, however, that du…
N.Y. Banking Law § 252 Reports to trustees
2.7K chars
§ 252. Reports to trustees. The board of trustees of every savings bank shall designate, by resolution duly recorded in the minutes, an officer or officers whose duty it shall be to prepare and submit to each trustee present at a regular meeting of the board, or to each member o…
N.Y. Banking Law § 253 Official communications from department of financial services to be submitted to trustees and noted in minutes
0.3K chars
§ 253. Official communications from department of financial services to be submitted to trustees and noted in minutes. Every official communication, as defined in article two of this chapter, shall be submitted by the officer receiving it to the board of trustees at the next mee…
N.Y. Banking Law § 254 Examinations by trustees
2.2K chars
§ 254. Examinations by trustees. 1. Once in each calendar year the trustees of each savings bank by a committee of not less than three of their number, none of whom shall be an officer or salaried employee of, or an attorney who receives any fee, compensation or any other form o…
N.Y. Banking Law § 255 Reports to superintendent; penalty for failure to make
1.6K chars
§ 255. Reports to superintendent; penalty for failure to make. 1. On or before the first day of February in each year every savings bank shall make a written report to the superintendent, which shall contain a statement of its conditions as of the morning of the first day of Jan…
N.Y. Banking Law § 255-A Publication and delivery of annual report
0.7K chars
§ 255-a. Publication and delivery of annual report. Every savings bank shall (1) prepare a complete statement of its financial condition, including a summary of income and expense since its last previous statement, and publish the same annually, such publication to be made in th…
N.Y. Banking Law § 256 Photographic reproduction of records
0.7K chars
§ 256. Photographic reproduction of records. Any photograph, microphotograph or reproduction on film of any of the documents and records of a savings bank relating to the accounts of its depositors and the operation of its business, which such savings bank has caused to be made …
N.Y. Banking Law § 257 Duties of trustees and officers
2.4K chars
§ 257. Duties of trustees and officers. 1. Trustees and officers shall discharge the duties of their respective positions in good faith and with that degree of diligence, care and skill which prudent men would exercise under similar circumstances in like positions. In dischargin…
N.Y. Banking Law § 258 Prohibition of unauthorized savings banks and use of the word "savings"; exception as to school savings
6.8K chars
§ 258. Prohibition of unauthorized savings banks and use of the word "savings"; exception as to school savings. 1. No individual, partnership, unincorporated association or corporation other than a savings bank, state or federal chartered savings and loan association, bank, trus…
N.Y. Banking Law § 26 Licenses to foreign banking corporations; renewal
1.5K chars
§ 26. Licenses to foreign banking corporations; renewal. Upon receipt of an application in proper form of any foreign banking corporation for leave to do business in this state under the provisions of article five of this chapter, the superintendent, if he or she shall find afte…
N.Y. Banking Law § 260 Charters of all savings banks conformed to this article
0.8K chars
§ 260. Charters of all savings banks conformed to this article. The powers, privileges and duties, and all restrictions, heretofore or hereafter conferred or imposed upon any savings bank by whatever name known, by its charter or act of incorporation, are hereby abridged, enlarg…
N.Y. Banking Law § 260-A Amendment of organization certificate and by-laws
0.6K chars
§ 260-a. Amendment of organization certificate and by-laws. Any proposed change in the organization certificate or the by-laws of any savings bank shall be submitted to the superintendent and, upon the superintendent's written approval thereof, shall be posted in a conspicuous p…
N.Y. Banking Law § 260-B Conversion of a savings bank into a savings and loan association
2.9K chars
§ 260-b. Conversion of a savings bank into a savings and loan association. 1. Any savings bank may convert itself into a savings and loan association upon receiving the approval of the superintendent as hereinafter provided. A meeting of the board of trustees shall be held upon …
N.Y. Banking Law § 27 Exchange and examination of securities
2.1K chars
§ 27. Exchange and examination of securities. 1. Any corporation, unincorporated association, partnership or individual which shall have deposited with the superintendent in trust any stocks or bonds in pursuance of any requirement of this chapter, may be permitted by the superi…
N.Y. Banking Law § 28 Change of location; change of designation of principal office; approval or refusal; certificate
1.6K chars
§ 28. Change of location; change of designation of principal office; approval or refusal; certificate. Upon receipt by the superintendent of a written application in proper form from any banking organization or foreign corporation for leave to change its place or one of its plac…
N.Y. Banking Law § 28-A Temporary change of location; approval or refusal; certificate
2.7K chars
§ 28-a. Temporary change of location; approval or refusal; certificate. Notwithstanding any provisions of law limiting the number of offices which may be maintained thereby, any banking organization or foreign banking corporation may make a written application to the superintend…
N.Y. Banking Law § 28-B Credit needs of local communities
8.5K chars
§ 28-b. Credit needs of local communities. 1. Each banking institution as defined in subdivision four of this section to which the Community Reinvestment Act of 1977, United States P.L. 95-128, applies shall file with the superintendent a copy of each report and document which i…
N.Y. Banking Law § 28-BB Credit needs of local communities; mortgage bankers
5.1K chars
§ 28-bb. Credit needs of local communities; mortgage bankers. 1. When taking any action on an application made by a mortgage banker licensed pursuant to section five hundred ninety-one of this chapter for a change in control under section five hundred ninety-four-b of this chapt…
N.Y. Banking Law § 28-C Branch office closings; report to and action by the superintendent
5.3K chars
§ 28-c. Branch office closings; report to and action by the superintendent. 1. This section is intended to provide the superintendent with detailed information concerning the planned closing of branch offices by state-chartered banking organizations, the availability of alternat…
N.Y. Banking Law § 282 Creation of fund
0.9K chars
§ 282. Creation of fund. Any seventy-five or more savings banks organized under the laws of the state of New York whose deposits aggregate not less than fifty per cent of the total deposit liabilities of all the savings banks in the state, may enter into an agreement (hereinafte…
N.Y. Banking Law § 283 Management of fund
0.7K chars
§ 283. Management of fund. The fund shall be collected, held, administered and disbursed by a corporate trustee or a board of trustees composed of individuals who are trustees of mutual savings banks, either of which shall be approved by the superintendent of financial services,…
N.Y. Banking Law § 284 Agreement; filing and provisions thereof
2.2K chars
§ 284. Agreement; filing and provisions thereof. The agreement when approved by the superintendent of financial services shall be executed by the savings banks parties thereto and filed in his office. The agreement may be executed in any number of counterparts, all of which take…
N.Y. Banking Law § 285 Powers which may be granted to trustee
8.3K chars
§ 285. Powers which may be granted to trustee. In addition to such other powers as may be set forth in the agreement not inconsistent herewith or with the purposes of the fund, the trustee shall have such of the following powers as the agreement may provide: 1. To insure in whol…
N.Y. Banking Law § 286 Taxation and exemption of property held in fund; exemption of mortgages from mortgage recording tax
0.7K chars
§ 286. Taxation and exemption of property held in fund; exemption of\nmortgages from mortgage recording tax. The fund and the income thereof\nshall be exempt from all taxation now or hereafter imposed by the state\nof New York or by any county, municipality or local authority or…
N.Y. Banking Law § 287 Member savings banks
0.3K chars
§ 287. Member savings banks. Any savings bank incorporated in the state of New York may become a member of the fund upon the terms and conditions set forth in the agreement by executing the agreement authorized by this article, or a counterpart thereof.
N.Y. Banking Law § 288 Contributions as assets
0.2K chars
§ 288. Contributions as assets. All contributions and payments pursuant to call paid into the fund by any member savings bank may be carried by it as an asset to the extent authorized by the superintendent of financial services.
N.Y. Banking Law § 289 Confirmation of powers
0.2K chars
§ 289. Confirmation of powers. Any savings bank shall have the authority to do and permit to be done any of the acts and things and make any of the payments and contributions herein authorized.
N.Y. Banking Law § 289-A Immunity of trustee and member savings banks
0.4K chars
§ 289-a. Immunity of trustee and member savings banks. The trustee shall in no event be individually liable for anything done or any liability incurred or assumed by virtue hereof, and any such liability shall be collectible only out of the fund, nor shall any member bank be sub…
N.Y. Banking Law § 289-B Construction
0.2K chars
§ 289-b. Construction. The provisions of this article shall be liberally construed with a view to the protection of the depositors of savings banks.
N.Y. Banking Law § 29 Branch offices; public accommodation offices; approval or refusal; certificate; investigation fee
2.1K chars
§ 29. Branch offices; public accommodation offices; approval or refusal; certificate; investigation fee. When a banking organization seeks to open a branch office or public accommodation office, it shall submit a written application to the superintendent. The application shall c…
N.Y. Banking Law § 290 Authorization of the formation of mutual holding companies
0.9K chars
§ 290. Authorization of the formation of mutual holding companies. 1. Notwithstanding any other provision of law, and in accordance with general regulations which the superintendent of financial services shall promulgate to facilitate such reorganizations, a mutual savings bank …
N.Y. Banking Law § 291 Required approvals
3.9K chars
§ 291. Required approvals. 1. A reorganization of a mutual savings bank pursuant to this article shall be approved by a majority of the board of trustees of the mutual savings bank. 2. (a) A mutual savings bank proposing a reorganization pursuant to this article shall provide th…
N.Y. Banking Law § 292 Formation of a mutual holding company
3.2K chars
§ 292. Formation of a mutual holding company. 1. The plan of reorganization may authorize the formation of a mutual holding company by: (a) (i) the organization by the mutual holding company of a stock savings bank subsidiary and the transferal to such stock savings bank of the …
N.Y. Banking Law § 293 Mutual holding company powers
2.8K chars
§ 293. Mutual holding company powers. 1. Upon the formation of a mutual holding company by a mutual savings bank: (a) except as provided pursuant to the provisions of subdivision two of this section, the mutual holding company shall possess all the rights, powers and privileges,…
N.Y. Banking Law § 294 Conversion of mutual holding company into stock holding company
1.3K chars
§ 294. Conversion of mutual holding company into stock holding company. 1. If approved by the superintendent, a mutual holding company may convert to a stock holding company in accordance with general regulations promulgated by the superintendent of financial services. 2. If app…