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N.Y. Banking Law § 366 Definitions
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§ 366. Definitions. When used in this article. 1. The term "licensed casher of checks" means any individual, partnership, unincorporated association or corporation duly licensed by the superintendent of financial services to engage in business pursuant to the provisions of this …
N.Y. Banking Law § 367 License requirements; fees; capital requirements
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§ 367. License requirements; fees; capital requirements. 1. No person, partnership, association or corporation shall engage in the business of cashing checks, drafts or money orders for a consideration without first obtaining a license from the superintendent. 2. Application for…
N.Y. Banking Law § 369 Conditions precedent to issuing license; issuance and filing of license; posting license
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§ 369. Conditions precedent to issuing license; issuance and filing of license; posting license. 1. If the superintendent shall find that the financial responsibility, experience, character, and general fitness of the applicant, and of the members thereof if the applicant be a c…
N.Y. Banking Law § 37 Reports to superintendent
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§ 37. Reports to superintendent. 1. The superintendent shall at least two times in each year designate a past day as of which every bank, trust company, private banker and, in the discretion of the superintendent, a bank holding company and any non-banking subsidiary thereof sha…
N.Y. Banking Law § 37-A Submission of annual reports by the Holocaust claims processing office
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§ 37-a. Submission of annual reports by the Holocaust claims processing office. The superintendent shall report annually to the governor, the temporary president of the senate, the speaker of the assembly, the chairs of the senate standing committees on finance and banks, and th…
N.Y. Banking Law § 370 Restrictions as to place or area of doing business; establishment of stations; change of location
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§ 370. Restrictions as to place or area of doing business; establishment of stations; change of location. 1. No more than one place of business or one mobile unit shall be maintained under the same license; provided, however, that more than one license may be issued to the same …
N.Y. Banking Law § 370-A Changes in control
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§ 370-a. Changes in control. 1. It shall be unlawful except with the prior approval of the superintendent for any action to be taken which results in a change of control of the business of a licensee. Prior to any change of control, the person desirous of acquiring control of th…
N.Y. Banking Law § 371 Regulations
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§ 371. Regulations. The superintendent is hereby authorized and empowered to make such rules and regulations, and such specific rulings, demands, and findings as he may deem necessary for the proper conduct of the business authorized and licensed under and for the enforcement of…
N.Y. Banking Law § 372 Fees and charges; posting schedule; records and reports
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§ 372. Fees and charges; posting schedule; records and reports. 1. The superintendent shall, by regulation, establish the maximum fees which may be charged by licensees for cashing a check, draft, or money order. No licensee shall charge or collect any sum for cashing a check, d…
N.Y. Banking Law § 372-A Superintendent authorized to examine
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§ 372-a. Superintendent authorized to examine. 1. For the purpose of discovering violations of this article or securing information lawfully required in this section, the superintendent may at any time, and as often as may be determined, either personally or by a person duly des…
N.Y. Banking Law § 372-B Forged checks for cashing; signage
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§ 372-b. Forged checks for cashing; signage. All licensees shall post in a conspicuously prominent place, clearly visible to all patrons, a statement printed in plain language as provided by the superintendent informing the public that cashing a forged check is illegal and that …
N.Y. Banking Law § 373 Acts prohibited; suspension or revocation of license; penalties
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§ 373. Acts prohibited; suspension or revocation of license; penalties. 1. No licensee shall engage in the business of making loans of money, credit, goods or things or discounting of notes, bills of exchange, checks, or other evidences of debt pursuant to the provisions of arti…
N.Y. Banking Law § 374 Application of article
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§ 374. Application of article. 1. The provisions of this article shall not apply when checks, drafts or money orders are cashed, other than by a licensee, without a consideration or charge; nor when checks, drafts or money orders are cashed, other than by a licensee, as an incid…
N.Y. Banking Law § 375 Incorporation; organization certificate
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§ 375. Incorporation; organization certificate. When authorized by the superintendent as provided in article two of this chapter, fifteen or more persons, residents of the state of New York, may form a corporation to be known as a savings and loan association. Such persons shall…
N.Y. Banking Law § 376 Proposed by-laws
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§ 376. Proposed by-laws. 1. The incorporators shall subscribe and acknowledge and submit to the superintendent proposed by-laws in duplicate, which shall make provision for the following: (a) The dates of regular meetings of shareholders; the notice, if any, to be given; the qua…
N.Y. Banking Law § 377 When corporate existence begins
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§ 377. When corporate existence begins. When the superintendent shall have approved the organization certificate and the proposed by-laws, and shall have issued his authorization certificate as provided in article two of this chapter, the corporate existence of the association s…
N.Y. Banking Law § 378 Power to issue shares; dues thereon
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§ 378. Power to issue shares; dues thereon. 1. Every savings and loan association shall be either permanent or serial in character. A permanent association shall be one which issues instalment shares, not in series, and credits dividends thereon to the holders of such shares ind…
N.Y. Banking Law § 378-A Time deposits
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§ 378-a. Time deposits. 1. Subject to such regulations and restrictions as the superintendent of financial services finds to be necessary and proper, a savings and loan association may contract to receive time deposits including deposits upon which the savings and loan associati…
N.Y. Banking Law § 378-B Club accounts
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§ 378-b. Club accounts. 1. No contract under which a savings and loan association agrees to repay shares of fixed sums made at regular intervals at a given time with all interest or dividends credited thereon, or to repay said shares when, together with interest or dividends cre…
N.Y. Banking Law § 378-C Excelsior linked deposit program
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§ 378-c. Excelsior linked deposit program. A savings and loan association may accept moneys deposited by the comptroller or the commissioner of taxation and finance as linked deposits pursuant to article fifteen of the state finance law and enter into agreements, pledge assets o…
N.Y. Banking Law § 378-D Preservation of books and records
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§ 378-d. Preservation of books and records. Every savings and loan association 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 t…
N.Y. Banking Law § 378-E Water pollution control linked deposit program
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§ 378-e. Water pollution control linked deposit program. A savings and loan association may accept moneys deposited by the New York state environmental facilities corporation as linked deposits pursuant to article sixteen of the state finance law and enter into agreements, pledg…
N.Y. Banking Law § 379 Power to invest in securities
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§ 379. Power to invest in securities. A savings and loan association may invest its funds in the following securities: (1) Shares of the Savings and Loan Bank of the State of New York, in an amount not exceeding five per centum of the assets of such association at the time of su…
N.Y. Banking Law § 379-B Service corporation owned by associations; authorized activities of such corporation; investment therein
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§ 379-b. Service corporation owned by associations; authorized activities of such corporation; investment therein. 1. A savings and loan association may invest in the stock, capital notes and debentures of a service corporation organized under the laws of this state for the sole…
N.Y. Banking Law § 38 Power of subpoena
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§ 38. Power of subpoena. 1. The superintendent shall have power at all times, either personally or by his deputies, including special deputy superintendents, or examiners, to subpoena witnesses, to compel their attendance, to administer an oath, to examine any person under oath …
N.Y. Banking Law § 380 Power to make loans
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§ 380. Power to make loans. 1. A savings and loan association may make a loan upon the security of a mortgage of the type authorized to be made by a savings bank by subdivisions five-a and six of section two hundred thirty-five of this chapter, subject to such regulations as the…
N.Y. Banking Law § 380-A Power to purchase mortgage, loan or investment
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§ 380-a. Power to purchase mortgage, loan or investment. Subject to such regulations and restrictions as the superintendent of financial services may prescribe therefor, an association may acquire by purchase any mortgage, loan or invetsment which by the provisions of this artic…
N.Y. Banking Law § 380-B Power to purchase mortgages from mortgage holders
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§ 380-b. Power to purchase mortgages from mortgage holders. A savings and loan association may purchase from mortgage holders; (1) any bond and mortgage insured or guaranteed by the United States or any instrumentality thereof, or for which there is a commitment to so insure or …
N.Y. Banking Law § 380-C Power to participate in certain loans and mortgage investments
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§ 380-c. Power to participate in certain loans and mortgage investments. Subject to such regulations and restrictions as may be prescribed by the superintendent of financial services, a savings and loan association may participate in making or acquiring (1) loans of a type that …
N.Y. Banking Law § 380-E Effect of usury
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§ 380-e. Effect of usury. The knowingly taking, receiving, reserving, or charging by a savings and loan association of interest, as computed pursuant to this article, at a rate greater than such rate of interest as may be authorized by law shall be held and adjudged a forfeiture…
N.Y. Banking Law § 380-F Power to make advances of federal funds
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§ 380-f. Power to make advances of federal funds. A savings and loan association may make advances of federal funds to commercial banks, provided such advances are made on the condition that they be repaid on the next business day following the day on which the advance is made. …
N.Y. Banking Law § 380-G Power to engage in line of credit financing of residential real estate
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§ 380-g. Power to engage in line of credit financing of residential real estate. A savings and loan association is authorized to invest an amount, not exceeding the lesser of (a) ten per centum of the sum of its surplus, undivided profits, and reserves or (b) one per centum of i…
N.Y. Banking Law § 380-H Trust powers
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§ 380-h. Trust powers. 1. The superintendent of financial services is authorized and empowered to grant permission to a savings and loan association 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 cha…
N.Y. Banking Law § 380-I Personal loan departments
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§ 380-i. Personal loan departments. Subject to such regulations as the superintendent of financial services may prescribe, a savings and loan association may operate a personal loan department under the same terms and conditions as are provided under subdivisions four and five o…
N.Y. Banking Law § 380-J Authorization to acquire and lease personal property
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§ 380-j. Authorization to acquire and lease personal property. A savings and loan association is authorized to acquire and lease personal property to the same extent as a commercial bank is authorized to engage in such activities under subdivision twelve of section ninety-six of…
N.Y. Banking Law § 380-K Investment in promissory notes
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§ 380-k. Investment in promissory notes. A savings and loan association may invest in promissory notes and other evidences of indebtedness representing commercial, corporate or business loans to the same extent as a savings bank is authorized to invest in such notes under subdiv…
N.Y. Banking Law § 380-L Excelsior linked deposit program
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§ 380-l. Excelsior linked deposit program. A savings and loan association may make linked loans, each authorized and approved pursuant to article fifteen of the state finance law and each in an amount equal to a corresponding linked deposit made pursuant to such article, subject…
N.Y. Banking Law § 380-M Water pollution control linked deposit program
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§ 380-m. Water pollution control linked deposit program. A savings and loan association may make linked loans, each authorized and approved pursuant to article sixteen of the state finance law and each in an amount equal to a corresponding linked deposit made pursuant to such ar…
N.Y. Banking Law § 381 Power to take and hold real estate; restrictions
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§ 381. Power to take and hold real estate; restrictions. 1. A savings and loan association may take, hold and convey real property as follows: (a) A plot whereon there is or may be erected a building suitable for the convenient transaction of its business, from portions of which…
N.Y. Banking Law § 382 Power to borrow
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§ 382. Power to borrow. Subject to such regulations as the superintendent of financial services may promulgate, a savings and loan association may borrow money and pledge its assets as security for the repayment thereof if it has been authorized so to do by the vote of a majorit…
N.Y. Banking Law § 382-A Power to act as trustee under self-employed retirement trust and of individual retirement account; investment in savings account
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§ 382-a. Power to act as trustee under self-employed retirement trust and of individual retirement account; investment in savings account. 1. Subject to any regulations and restrictions prescribed by the superintendent of financial services, a savings and loan association shall …
N.Y. Banking Law § 382-B Power to issue certain obligations
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§ 382-b. Power to issue certain obligations. 1. In addition to all other powers granted to it by other provisions of law, a savings and loan association may issue such notes, bonds, debentures, or other obligations or other securities as the superintendent may authorize. 2. Subj…
N.Y. Banking Law § 383 Other powers
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§ 383. Other powers. Every savings and loan association shall, subject to the restrictions and limitations contained in this chapter, have the following powers: 1. To become a member of the Savings and Loan Bank of the State of New York; to exercise such powers as may be conferr…
N.Y. Banking Law § 383-A Rental of safe deposit boxes
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§ 383-a. Rental of safe deposit boxes. Any savings and loan association may rent to its members safe deposit boxes in which to keep personal property and papers of any kind.
N.Y. Banking Law § 384 Entries in books; restrictions; amortization of securities
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§ 384. Entries in books; restrictions; amortization of securities. 1. No savings and loan association 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 unin…
N.Y. Banking Law § 385 Surplus account
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§ 385. Surplus account. Every savings and loan association shall accumulate and maintain a surplus account as provided in section three hundred eighty-seven of this article. Such surplus account up to ten per centum of the association's capital shall not be available for any pur…
N.Y. Banking Law § 386 Profits; how and when to be computed
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§ 386. Profits; how and when to be computed. 1. Every savings and loan association shall close its books, for the purpose of computing its profits, at the end of any period for which a dividend is to be paid and in no event less frequently than quarterly. To determine the amount…
N.Y. Banking Law § 387 Credits to surplus account and undivided profits; dividends to shareholders
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§ 387. Credits to surplus account and undivided profits; dividends to shareholders. 1. When the net profits of any savings and loan association have been determined at the close of an accounting period, if its net worth does not equal ten per centum of its capital, such net prof…
N.Y. Banking Law § 388 Fines and penalties for failure to make payments on instalment shares
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§ 388. Fines and penalties for failure to make payments on instalment shares. 1. Where dividends on instalment shares are credited by series, a savings and loan association may impose fines upon the holders of instalment shares of a series, their legal representatives or success…
N.Y. Banking Law § 389 Matured shares; conversion into shares of another class upon notice
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§ 389. Matured shares; conversion into shares of another class upon notice. Whenever the dues and dividends credited to instalment or accumulative prepaid shares shall equal their matured value, notice of such maturity shall be given to the holders thereof and the payment of due…