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N.Y. Banking Law § 39 Orders of superintendent
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* § 39. Orders of superintendent. 1. To appear and explain an apparent violation. Whenever it shall appear to the superintendent that any banking organization, bank holding company, registered mortgage broker, licensed mortgage banker, licensed student loan servicer, registered …
N.Y. Banking Law § 390 Withdrawal of unpledged shares; provisions for dividends
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§ 390. Withdrawal of unpledged shares; provisions for dividends. 1. The accumulations upon shares of any savings and loan association which are not pledged to the association to secure a loan, whether or not such shares are matured, may be withdrawn subject to the provisions of …
N.Y. Banking Law § 392 Retirement of shares; suspension; transfer
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§ 392. Retirement of shares; suspension; transfer. 1. The board of directors of any savings and loan association may retire shares which are not pledged to the association by requiring their withdrawal, if the by-laws clearly state the manner in which such withdrawals may be req…
N.Y. Banking Law § 393 Repayment of mortgage loans; application of pledged shares
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§ 393. Repayment of mortgage loans; application of pledged shares. 1. For the purpose of making payment on his mortgage loan a member may at any time, without forfeiture of dividends, transfer from the amount credited upon the shares pledged by him as security, a sum equal to th…
N.Y. Banking Law § 394 Joint shares; shares of minors; shares in trust
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§ 394. Joint shares; shares of minors; shares in trust. 3. When shares shall be issued in the name of a minor they shall be held for the exclusive right and benefit of such minor and free from the control or lien of all other persons except creditors, and the withdrawal value th…
N.Y. Banking Law § 395 Alternative provisions relative to payment of interest to shareholders
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§ 395. Alternative provisions relative to payment of interest to shareholders. Notwithstanding any provision of this chapter to the contrary the superintendent may adopt such rules or regulations as shall permit mutual savings and loan associations to pay interest on share accou…
N.Y. Banking Law § 396 Change of location; change of designation of principal office; maintenance of branch office
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§ 396. Change of location; change of designation of principal office; maintenance of branch office. 1. Any savings and loan association may make a written application to the superintendent, such application to be accompanied by an investigation fee as prescribed pursuant to sect…
N.Y. Banking Law § 396-A Electronic facilities
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§ 396-a. Electronic facilities. A savings and loan association 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 faciliti…
N.Y. Banking Law § 396-B Acceptance of United States currency
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§ 396-b. Acceptance of United States currency. No savings and loan association 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 hav…
N.Y. Banking Law § 397 Number, qualifications and disqualifications of directors; oath; quorum; meeting of directors
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§ 397. Number, qualifications and disqualifications of directors; oath; quorum; meeting of directors. 1. The affairs of every savings and loan association shall be managed and its corporate powers exercised by a board of directors, in number not less than seven nor more than fif…
N.Y. Banking Law § 397-A Report to directors
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§ 397-a. Report to directors. The board of directors of every savings and loan association shall designate, by resolution duly recorded in the minutes, an officer or officers whose duty it shall be to prepare and submit to each director present at a regular meeting of the board …
N.Y. Banking Law § 398 Filling of vacancies in board of directors; change in number of directors
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§ 398. Filling of vacancies in board of directors; change in number of directors. 1. Vacancies in the board of directors of any savings and loan association not exceeding one-third of the whole number of the board may be filled by vote of a majority of the remaining directors, a…
N.Y. Banking Law § 398-A Forfeiture of office of director
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§ 398-a. Forfeiture of office of director. The office of a director of a savings and loan association shall become vacant whenever he shall have failed to attend the regular meetings of the board of directors and also of any committee of the board of which he is a member, for a …
N.Y. Banking Law § 398-B Duties of directors and officers
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§ 398-b. Duties of directors and officers. 1. Directors 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 dischar…
N.Y. Banking Law § 398-C Executive committee and other committees
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§ 398-c. Executive committee and other committees. 1. If the organization certificate or the by-laws so provide, the board of directors, by resolution adopted by a majority of the entire board, may designate from among its members an executive committee consisting of at least fi…
N.Y. Banking Law § 399 Restrictions on directors and officers
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§ 399. Restrictions on directors and officers. 1. No director or officer of any savings and loan association shall receive any salary, fees, expenses or other compensation for soliciting the sale of shares of the association to any person. 2. No officer, director, attorney, agen…
N.Y. Banking Law § 399-A Restrictions on holding of certain offices by executive officers of federal savings banks and federal savings associations
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§ 399-a. Restrictions on holding of certain offices by executive officers of federal savings banks and federal savings associations. 1. No executive officer of a federal savings bank or federal savings association the principal office of which institution is located in this stat…
N.Y. Banking Law § 4 Information to be given to social services officials, state department of social services, state department of mental hygiene, the mental...
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§ 4. Information to be given to social services officials, state department of social services, state department of mental hygiene, the mental hygiene legal service, representatives of boards of child welfare and children's court by banking organizations. 1. If requested by an a…
N.Y. Banking Law § 4-A Banks to display signs
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§ 4-a. Banks to display signs. Every banking organization having as its purpose or among its purposes the receipt of deposits, shall continuously display a sign, or signs, as prescribed by the superintendent of financial services, at each station or window within the state where…
N.Y. Banking Law § 4-B Advertising
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§ 4-b. Advertising. Every such non-insured banking organization shall include in all its advertising within the state with reference to deposit accounts the statement substantially as follows: "DEPOSITS NOT INSURED". Where such advertising is printed the statement shall be of su…
N.Y. Banking Law § 4-C Exemptions from certain provisions of chapter
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§ 4-c. Exemptions from certain provisions of chapter. Any uninsured banking organization whose assets are in excess of two hundred million dollars shall be exempt from compliance with the provisions of sections four-a, four-b and four-c of this chapter unless otherwise directed …
N.Y. Banking Law § 40 Revocation of authorization certificate or license or suspension of activities in certain cases
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§ 40. Revocation of authorization certificate or license or suspension of activities in certain cases. 1. If the superintendent shall find that (i) any of the reasons for taking possession of the business and property of a banking organization or of the business and property in …
N.Y. Banking Law § 400 Pensions; insurance
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§ 400. Pensions; insurance. Subject to such regulations as the superintendent of financial services may prescribe, a savings and loan association may, in the discretion of a majority of all the directors: 1. Provide pensions to officers and employees pursuant to a nondiscriminat…
N.Y. Banking Law § 4001 Incorporation; organization certificate; amount of capital stock
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§ 4001. Incorporation; organization certificate; amount of capital stock. When authorized by the superintendent as provided in article two of this chapter, five or more persons may incorporate a bank or trust company, a stock-form savings bank, a stock-form savings and loan asso…
N.Y. Banking Law § 4001-A Formation of limited liability investment companies
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§ 4001-a. Formation of limited liability investment companies. 1. Notwithstanding the provisions of section four thousand one of this title and when authorized by the superintendent as provided in article two of this chapter, five or more persons may form a limited liability inv…
N.Y. Banking Law § 4001-B Formation of limited liability trust companies
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§ 4001-b. Formation of limited liability trust companies. 1. Notwithstanding the provisions of section four thousand one of this title and when authorized by the superintendent as provided in article two of this chapter, five or more persons may form a limited liability trust co…
N.Y. Banking Law § 4002 Fingerprints
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§ 4002. Fingerprints. (a) Notwithstanding any other provisions of law, every incorporator of a corporation shall, in addition to any other requirements which may be imposed by the superintendent, submit simultaneously with an application, his or her fingerprints in such form and…
N.Y. Banking Law § 4003 Organization certificate to be submitted to the superintendent
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§ 4003. Organization certificate to be submitted to the superintendent. The organization certificate of a bank, trust company, stock-form savings bank, stock-form savings and loan association, safe deposit company or investment company, executed in duplicate, shall be submitted …
N.Y. Banking Law § 4004 When corporate existence begins; conditions precedent to commencing business
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§ 4004. When corporate existence begins; conditions precedent to commencing business. 1. When the superintendent shall have endorsed his approval on the organization certificate as provided in article two of this chapter, the corporate existence of the corporation shall begin an…
N.Y. Banking Law § 4005 Organization meeting
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§ 4005. Organization meeting. 1. After the corporate existence has begun, an organization meeting of the incorporators shall be held within this state, for the purpose of adopting by-laws and the transaction of such other business relating to organization as may come before the …
N.Y. Banking Law § 401 Official communications to be submitted to directors and noted in minutes
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§ 401. Official communications to be submitted to directors 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 directors at the next meeting of such board and noted in th…
N.Y. Banking Law § 402 Amendment of articles of association and by-laws
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§ 402. Amendment of articles of association and by-laws. Any proposed change in the articles of association, certificate of association, organization certificate or the by-laws of any savings and loan association shall be submitted to the superintendent and, upon the superintende…
N.Y. Banking Law § 403 Examination by directors
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§ 403. Examination by directors. 1. Once in each calendar year the directors of every savings and loan association by a committee of not less than three of their number, none of whom shall be salaried officers or employees of such association, shall examine fully the records and…
N.Y. Banking Law § 404 Reports to the superintendent; penalty for failure to make
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§ 404. Reports to the superintendent; penalty for failure to make. 1. On or before the first day in February in each year, every savings and loan association shall make a written report to the superintendent which shall contain a statement of its condition as of the morning of t…
N.Y. Banking Law § 404-A Photographic reproduction of records
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§ 404-a. Photographic reproduction of records. Any photograph, microphotograph or reproduction on film of any of the documents and records of a savings and loan association relating to the members of such savings and loan association and the operation of its business, which such…
N.Y. Banking Law § 405 Annual report to shareholders; delivery and publication
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§ 405. Annual report to shareholders; delivery and publication. Every savings and loan association 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 …
N.Y. Banking Law § 406 Charters conformed to this article; obligations and rights unimpaired; saving clause; applicability to stock-form savings and loan associ...
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§ 406. Charters conformed to this article; obligations and rights unimpaired; saving clause; applicability to stock-form savings and loan associations. 1. Except as provided by regulations promulgated by the superintendent of financial services pursuant to section fourteen-e of …
N.Y. Banking Law § 407 Exemptions
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§ 407. Exemptions. Savings and loan associations shall be deemed institutions for savings, and such associations and the property of such associations shall be exempt from taxation under any law which shall exempt savings banks or institutions for savings from taxation. The shar…
N.Y. Banking Law § 409 Conversion of a state savings and loan association into a federal savings and loan association
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§ 409. Conversion of a state savings and loan association into a federal savings and loan association. Any savings and loan association may convert itself into a federal savings and loan association. A meeting of the shareholders shall be held upon not less than ten days' writte…
N.Y. Banking Law § 41 Removal and prohibition
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§ 41. Removal and prohibition. 1. Grounds for enforcement action. Whenever the superintendent has reason to believe that any director, trustee, officer, member or partner, or, in the case of a foreign banking corporation, the person in charge, or an officer, of a branch or agenc…
N.Y. Banking Law § 410 Conversion of a federal savings and loan association into a state savings and loan association
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§ 410. Conversion of a federal savings and loan association into a state savings and loan association. 1. Any federal savings and loan association having its place of business in this state may convert itself into a state savings and loan association. A meeting of the shareholde…
N.Y. Banking Law § 411 Conversion of a savings and loan association or federal savings and loan association into a savings bank
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§ 411. Conversion of a savings and loan association or federal savings and loan association into a savings bank. 1. Any savings and loan association or federal savings and loan association having its place of business in this state may convert itself into a savings bank upon rec…
N.Y. Banking Law § 412 Conversion of federal savings institutions to state charter
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§ 412. Conversion of federal savings institutions to state charter. The superintendent is authorized to promulgate such regulations as are necessary to permit the conversion of any federal savings association or federal savings and loan association to state charter where such co…
N.Y. Banking Law § 413 Reciprocal interstate acquisitions
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§ 413. Reciprocal interstate acquisitions. 1. With the prior approval of the superintendent, a New York savings and loan holding company or a subsidiary thereof or a New York savings association may acquire control of an out-of-state savings and loan holding company or an out-of…
N.Y. Banking Law § 42 Official acts of superintendent and details of department business to be made public
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§ 42. Official acts of superintendent and details of department business to be made public. The superintendent shall publish and make available to the general public at the offices of the department and also post on the department's internet website a bulletin at noon on Friday …
N.Y. Banking Law § 420 Definitions
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§ 420. Definitions. When used in this article unless the context otherwise requires: 1. "Default" means an adjudication or other official determination of a court of competent jurisdiction or other public authority pursuant to which a conservator, receiver, or other legal custod…
N.Y. Banking Law § 420-A State savings and loan insurance fund
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§ 420-a. State savings and loan insurance fund. 1. There is hereby created the "state savings and loan insurance fund". The fund shall be a corporate governmental agency constituting a public benefit corporation. It shall have the powers and privileges of a corporation, and unde…
N.Y. Banking Law § 420-B Purposes of the fund
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§ 420-b. Purposes of the fund. The fund shall insure the savings accounts of savings and loan associations eligible for insurance as hereinafter provided.
N.Y. Banking Law § 420-C General powers of the fund
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§ 420-c. General powers of the fund. Except as otherwise limited by this article, the fund shall have power: 1. To sue and be sued; 2. To have a seal and alter the same at pleasure; 3. To borrow money and issue negotiable notes, bonds or other obligations and to provide for the …
N.Y. Banking Law § 420-D Capital stock; advance premiums; other fiscal provisions
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§ 420-d. Capital stock; advance premiums; other fiscal provisions. 1. The fund shall have a capital stock of one hundred million dollars which shall be divided into shares of one hundred dollars each. Each member savings and loan association whose accounts are insured under this…