Title BNK, Banking

§ 30. Unclaimed amounts; deposit by superintendent in trust;\npreference; release of debtor. 1. After the completion of the voluntary\nor involuntary liquidation of the business and property of any banking\norganization or of the business and property in this state of any\nforei…

§ 3001. Corporate name; general. Except as otherwise provided in this\nchapter, the name of a corporation or a foreign corporation, or the name\nof representative and other offices in this state, which are open to the\ngeneral public and maintained by any banking corporation, wh…

§ 3002. Corporate name; exceptions. 1. Any reference to a corporation\nin this section shall include both corporations and foreign\ncorporations.\n 2. The provisions of section three thousand one:\n (a) Shall not require any corporation, existing or licensed under this\nchapter …

§ 31. Index of persons entitled to unclaimed amounts; payment to\npersons entitled; deduction of service charge. An index shall be kept in\nthe office of the department of the names of all persons for whom the\nsuperintendent holds in trust any unclaimed amounts. The superintend…

§ 317. General powers. Every safe deposit company shall, subject to\nthe limitations and restrictions contained in this article, have the\npower:\n 1. To receive upon deposit as bailee for storage, upon terms and\nconditions to be prescribed by the safe deposit company, personal…

§ 318. Branch offices. Any safe deposit company having a capital of\none hundred thousand dollars or more may, in accordance with the\nprovisions of article two of this chapter, be permitted to open and\nmaintain a branch office or branch offices in the city or village where\nit…

§ 319. Limitations upon the powers of safe deposit companies.\n No safe deposit company shall:\n 1. Lend money, or make any advance, on any property left in its\npossession, or belonging to others.\n 2. Open or maintain any branch offices, except as provided in section\nthree hu…

§ 32. Insurance of deposits and share accounts.\n 1. Within one year from the date this section shall have become law,\nevery bank, trust company, savings bank, savings and loan association\nand credit union shall obtain insurance of deposits and share accounts,\nas the case may…

§ 320. Books and records. Every safe deposit company shall conform its\nmethods of keeping its books and records to such orders in respect\nthereto as shall have been made and promulgated by the superintendent\npursuant to the provisions of article two of this chapter. Any safe\…

§ 321. Change of location; change of designation of principal office.\nAny safe deposit company may make a written application to the\nsuperintendent for leave to change its place or one of its places of\nbusiness to any place at which it could be authorized, under the\nprovisio…

§ 323. Assessment of stockholders to make good impairment of capital;\nsale of stock.\n Whenever the superintendent shall have made requisition upon any safe\ndeposit company pursuant to the provisions of article two of this\nchapter to make good the amount of an impairment of i…

§ 324. Change of control. 1. It shall be unlawful, except with the\nprior approval of the superintendent, for any company, as defined in\nsubdivision two of section one hundred forty-one of this chapter, to\ndirectly or indirectly acquire control of any safe deposit company\nsub…

§ 327. Use of sign or words indicating safe deposit company by\nunauthorized persons prohibited. 1. No entity, other than a duly\nchartered safe deposit company, shall make use of any office sign at the\nplace where such business is transacted having thereon any artificial or\nc…

§ 328. Communications from department of financial services must be\nsubmitted to directors and noted in minutes. Every official\ncommunication as defined in article two of this chapter directed to a\nsafe deposit company or to any officer thereof shall be submitted, by\nthe off…

§ 329. Reports to superintendent; penalty for failure to make. On or\nbefore the first day of February in each year, every safe deposit\ncompany shall make a written report to the superintendent of financial\nservices which shall contain a statement of its condition on the morni…

§ 33. Reserve depositaries. The superintendent shall, in his\ndiscretion, upon the nomination of any bank, trust company, industrial\nbank, foreign banking corporation authorized to maintain a branch or\nbranches in this state or private banker, designate as a depositary for\nit…

§ 330. Liability of safe deposit company for assessments by\nsuperintendent. When the superintendent, pursuant to the powers\nconferred on him by article two of this chapter, shall have levied any\nassessment upon any safe deposit company and shall have duly notified\nsuch safe …

§ 332. Definitions. As used in this article, the following terms have\nthe following meanings:\n 1. Lessor. The term, "lessor" means a banking organization, foreign\nbanking corporation or a national banking association authorized to\nengage in the safe deposit business.\n 2. Sa…

§ 333. Access to safe deposit boxes by certain fiduciaries. Where a\nsafe deposit box is let by a lessor to one or more persons acting as\nexecutors, administrators, trustees, guardians, a committee, or as\nconservators, the lessor may, except as otherwise expressly provided by\…

§ 334. Leases to minors. A lessor may let a safe deposit box to a\nminor with the same effect as if such lessee were of full age and with\nthe same effect may allow access to such safe deposit box and to the\ncontents thereof to such lessee or to any deputy or agent appointed in…

§ 335. Special remedies where rental of safe deposit box is not paid\nor when safe deposit box is not vacated on termination of lease. Every\nlessor shall be entitled to the following special remedies:\n 1. (a) If the amount due for the rental of any safe deposit box let by\nany…

§ 336. Special remedies where property is deposited. 1. Every banking\norganization, foreign banking corporation or national banking\nassociation authorized to receive personal property upon deposit for\nsafe-keeping or as bailee for storage, and which shall have received any\ns…

§ 337. Sale of safe deposit business. Subject to the provisions of\nsubdivision eight of section six hundred five of article thirteen of\nthis chapter, any banking organization or foreign banking corporation\nmay, with the approval of the superintendent, sell to another banking\…

§ 338. Notice to renters of safe deposit boxes regarding insurance. 1.\nAny banking organization or safe deposit company which offers safe\ndeposit boxes for rent shall provide each customer at the time of rental\nwith a copy of a safe deposit box rental agreement. Such agreemen…

§ 34. Superintendent as attorney to accept service of process.\nWhenever pursuant to any provision of this chapter, the superintendent\nshall have been duly appointed attorney to receive service of process\nfor any individual, partnership, unincorporated association or\ncorporat…

§ 340. Doing business without license prohibited. No person or other\nentity shall engage in the business of making loans in the principal\namount of twenty-five thousand dollars or less for any loan to an\nindividual for personal, family, household, or investment purposes and\n…

§ 341. Application for license; fees; capital requirements. 1. (a) As\nused in this article, the term master license shall mean an original\nlicense granted to a person or entity.\n (b) As used in this article, the term supplemental license shall mean\nthe license granted to a p…

§ 342. Conditions precedent to issuing license; procedure where\napplication denied. Upon the filing of such application and the payment\nof such fees, if the superintendent shall find that the financial\nresponsibility, experience, character, and general fitness of the\napplica…

§ 343. License provisions; separate license for each place of\nbusiness; change of location. 1. A license shall state the address at\nwhich the business is to be conducted and shall state fully the name of\nthe licensee, and if the licensee is a partnership or association, the\n…

§ 344. Issuance of license upon acquisition of business of licensed\nlender. 1. Prior to any acquisition, by merger, consolidation, purchase\nof assets or otherwise, except by purchase of stock, of the assets or\nbusiness, or a substantial part thereof, of a licensee under this\…

§ 345. Application for acquisition of control of licensed lender by\npurchase of stock. 1. Prior to the acquisition of control of a licensee\nunder this article by means of the acquisition of the capital stock or\nequity interests in such licensee or in any person who directly o…

§ 347. Grounds for revocation or suspension of license; procedure. The\nsuperintendent may suspend or revoke any license issued hereunder if the\nsuperintendent shall find that:\n (a) The licensee has failed to pay any sum of money lawfully demanded\nby the superintendent or to …

§ 348. Superintendent authorized to examine. For the purpose of\ndiscovering violations of this article or securing information lawfully\nrequired hereunder, the superintendent may at any time, and as often as\nmay be determined, either personally or by a person duly designated …

§ 349. Licensee's books and records; reports. The licensee shall keep\nand use in its business such books, accounts, and records as will enable\nthe superintendent to determine whether such licensee is complying with\nthe provisions of this article and with the rules and regulat…

§ 35. Information pamphlet for residential mortgage applicants. 1. The\nsuperintendent shall develop a pamphlet known as "what mortgage\napplicants need to know" and post such pamphlet on the department's web\nsite. Such pamphlet shall be posted and printed in the six most commo…

§ 350. Restrictions concerning advertising, liens on real estate, and\nplaces where loans made. 1. (a) No licensee or other entity shall\nadvertise, print, display, publish, distribute, or broadcast or cause or\npermit to be advertised, printed, displayed, published, distributed…

§ 351. Restrictions on loans subject to the provisions of this\narticle; interest; other charges. 1. Every licensee hereunder may loan\nany sum of money not exceeding the maximum principal amounts prescribed\nin section three hundred forty of this article, and may charge, contra…

§ 352. Acts required of licensees; acts prohibited. Every licensee\nshall:\n Deliver to the borrower at the time any loan is made or prior to the\nfirst advance under an open-end loan agreement a statement, in the\nEnglish language showing in clear and distinct terms the name an…

§ 353. Limitation on licensee's charges on certain loans. No licensee\nshall directly or indirectly charge, contract for, or receive any\ninterest, discount, or consideration upon the loan, use, or forbearance\nof money, goods, or things in action, or upon the loan, use, or sale…

§ 354. Restrictions on assignments of compensation for services. 1. A\nlicensee shall not take an assignment of unearned wages or other\nearnings unless:\n (a) the assignment by its terms is revocable at the will of the\nborrower; or\n (b) the assignment is a payroll deduction p…

§ 355. Solicitation of loans. 1. Any loan made by a person not\nlicensed under this article to a resident of this state, in the amount,\nnot exceeding the maximum amounts prescribed in section three hundred\nforty of this article, where solicitation of the loan was made within\n…

§ 356. Restrictions on certain loans by non-licensees, interests,\nother charges; loans made outside this state. No person or other entity,\nother than a licensee under this article, shall directly or indirectly\ncharge, contract for, or receive any interest, discount, or\nconsi…

§ 357. Insurance. 1. The licensee may require a borrower, on loans of\ntwo hundred and fifty dollars or more, excluding insurance premiums and\nprecomputed interest, to insure tangible personal property, except\nhousehold goods, taken as security for a loan against any substanti…

§ 358. Penalties. Any person or other entity including the officers,\ndirectors, agents, and employees thereof, which shall violate or\nparticipate in the violation of any of the provisions of section three\nhundred forty of this chapter shall be guilty of a misdemeanor.\n

§ 359. Authority of superintendent. The superintendent is hereby\nauthorized and empowered to make such general rules and regulations, and\nsuch specific rulings, demands, and findings as may be necessary for the\nproper conduct of the business authorized and licensed under and …

§ 36. Examinations; right of inspection; penalties for refusing to\npermit examination. * 1. The superintendent shall have the power to\nexamine every banking organization, every bank holding company and any\nnon-banking subsidiary thereof (as such terms "bank holding company" a…

§ 36-a. Reports of lending by banking organizations. The\nsuperintendent may require every banking organization to submit from\ntime to time data on its mortgage loans, home improvement loans, or\nother loans and data on its deposits.\n

§ 36-b. Preservation of books and records. When any provision of this\nchapter or any rule or regulation adopted pursuant thereto requires that\nbooks and records be preserved, such requirement may be satisfied by\nmaintenance of original papers or other records, photographic\nr…

§ 360. Short title. This article shall be known and may be cited as\nthe New York licensed lender law.\n

§ 361. Severability. If any provision of this article or the\napplication thereof to any person or circumstances is held to be\ninvalid, such invalidity shall not affect other provisions or\napplications of this article which can be given effect without the\ninvalid provision or…