Title BNK, Banking

§ 136-a. Purchase of assets of national banking association by bank or\ntrust company. 1. A state bank or trust company may acquire, whether by\npurchase or otherwise, other than by merger, all or a substantial part\nof the assets of a national banking association, provided that…

§ 136-b. Approval of superintendent. The superintendent shall approve\nor disapprove of a proposed merger as authorized by section one hundred\nthirty-six of this article or a proposed acquisition of all or a\nsubstantial part of the assets of a national banking association as\n…

§ 136-c. Effect of merger or conversion of national banking\nassociation into state bank. 1. At the time when a merger or conversion\nunder sections one hundred thirty-six and one hundred thirty-six-b of\nthis chapter becomes effective.\n (a) the resulting state bank shall be co…

§ 137. Change of state bank into national banking association by\nconversion, merger or consolidation. 1. A state bank may, by vote of the\nstockholders owning at least two-thirds in amount of its stock, convert\ninto, or merge or consolidate with, a national banking association…

§ 138. Foreign branches; performance of contracts and repayment of\ndeposits. 1. Notwithstanding section 1--301 of the uniform commercial\ncode, any bank or trust company or national bank located in this state\nwhich in accordance with the provisions of this chapter or otherwise…

§ 139. Saving clause. All banks which shall have been authorized by\nthe superintendant to exercise fiduciary powers pursuant to this\nchapter, as from time to time in effect, shall be known as trust\ncompanies subject to the provisions of this article applicable to trust\ncompa…

§ 14. Additional powers of the superintendent. 1. For the purpose of\neffectuating the policy declared in section ten of this article, without\nlimiting any other powers that the superintendent is permitted by law to\nexercise, the superintendent shall have the power to make, al…

§ 14-a. Rate of interest; superintendent of financial services to\nadopt regulations. 1. The maximum rate of interest provided for in\nsection 5-501 of the general obligations law shall be sixteen per centum\nper annum.\n 2. The rate of interest as so prescribed under this secti…

§ 14-b. Power of the superintendent of financial services to prescribe\nminimum rate of interest on mortgage escrow accounts. 1. The\nsuperintendent shall have the power to prescribe, from time to time but\nnot more often than once in every three month period, by regulation a\nm…

§ 14-c. Power of the superintendent of financial services to prescribe\ncriteria for disclosure of information on savings and time accounts. 1.\nThe superintendent of financial services shall promulgate rules and\nregulations with respect to the disclosure of information on savi…

§ 14-d. Power of the superintendent of financial services to prescribe\na reasonable period of time permitting the drawing on items received for\ndeposit in a customer's account. 1. It is the public policy of this\nstate to provide all banking customers with the ability to draw …

§ 14-e. Power of the superintendent to authorize the operation of\nsavings banks and savings and loan associations in stock form.\n 1. Notwithstanding any other provision of law to the contrary, the\nsuperintendent is authorized to promulgate such rules and regulations as\nshall…

§ 14-f. Power of the superintendent of financial services to require\nthe provision of basic banking services. 1. The legislature finds and\ndeclares that certain consumers residing in this state may be unable to\nafford, without undue financial hardship, the cost of maintaining…

§ 140-a. Stock option plans. Subject to such regulations and\nrestrictions as may be prescribed by the superintendent, every bank and\nevery trust company may grant options to purchase authorized and\nunissued shares of its capital stock to officers, directors and\nemployees, fo…

§ 141. Definitions. 1. "Banking institution," when used in this\narticle, means a bank, a trust company, a stock-form savings bank or a\nstock-form savings and loan association.\n 2. "Company," when used in this article, means any corporation,\npartnership, trust, unincorporated…

§ 142. Limitations on, and regulation of, bank holding companies. 1.\nIt shall be unlawful for any person knowingly to borrow, directly or\nindirectly, any money or property for the purpose of enabling such\nperson to pay for or to hold shares of stock of a bank holding company\…

§ 142-a. Limitation on acquisition of newly chartered banking\ninstitutions. 1. No bank holding company may acquire control of any\nbanking institution which has been chartered for less than five years\nand has its principal office in a city or village with a population of\nfift…

§ 143. Limitations on directors, officers and employees.\n 1. Every director of a bank holding company who is contingently\nobligated on any loan or other extension of credit made by a banking\nsubsidiary of the bank holding company of which he is a member of the\nboard of direc…

§ 143-a. Acquisitions by companies of all the capital stock of banks\nand trust companies; no change of ultimate control. 1. A company having\ncapital stock or membership interests may acquire all the capital stock\nor membership interests of one or more corporations organized u…

§ 143-b. Acquisition by companies of control of banking institutions.\n1. It shall be unlawful except with the prior approval of the\nsuperintendent for any company to acquire control of any banking\ninstitution, directly or indirectly, provided, however, that the\nprovisions of…

§ 145. Penalties; restraining orders and injunctions. 1. Any company\nwhich wilfully violates any provision of this article is guilty of a\nmisdemeanor and upon conviction thereof shall be fined not more than one\nthousand dollars for each day during which such violation continu…

§ 146. Saving provision. Nothing herein contained shall be interpreted\nor construed as approving any act, action or conduct which is or has\nbeen or may be in violation of existing law, nor shall anything herein\ncontained constitute a defense to any action, suit, or proceeding…

§ 147. Separability of provisions. If any provision of this article,\nor the application of such provision to any individual, company or\ncircumstance, shall be held invalid, the remainder of the article, and\nthe application of such provision to individuals, companies or\ncircu…

§ 150. Definitions. 1. "Subsidiary trust company", when used in this\narticle, means a trust company which is subject to the provisions of\nthis article.\n 2. "Bank holding company" and "subsidiary", when used in this article,\nshall each have the same meaning specified in secti…

§ 151. Organization of subsidiary trust companies. A subsidiary trust\ncompany shall be organized in accordance with the provisions of this\nchapter relating to the organization of trust companies. All of the\noutstanding voting stock of a subsidiary trust company shall be owned…

§ 152. Business of subsidiary trust companies; limitation on powers. A\nsubsidiary trust company shall have all of the powers of and be entitled\nto engage in the business of a trust company, provided that a subsidiary\ntrust company shall not have the power to accept deposits.\…

§ 153. Offices. Notwithstanding the provisions of sections twenty-nine\nand one hundred five of this chapter, (a) a subsidiary trust company may\nopen and occupy a trust office, including its principal office, at any\none or more locations in the state of New York at which the o…

§ 154. Transfer of fiduciary relationships from affiliated banks or\ntrust companies to subsidiary trust companies. 1. (a) At any time or\ntimes after the issuance to it by the superintendent of the\nauthorization certificate specified in article two of this chapter, a\nsubsidia…

§ 155. Applicable laws and regulations. To the extent not inconsistent\nwith provisions of this article, a subsidiary trust company shall be\nsubject to the laws of the state of New York generally applicable to\ntrust companies. Nothing in this article shall be deemed to affect …

§ 160. Verified certificate. Any individual or partnership desiring to\nengage in business as a private banker shall submit to the\nsuperintendent a verified certificate in duplicate which shall state:\n 1. The full name, residence and post office address of such individual\nor …

§ 161. Authorization certificate. If the superintendent shall issue an\nauthorization certificate as provided in article two of this chapter,\nsuch individual or partnership may engage in the business of banking\nincluding receiving deposits subject to check or for repayment upo…

§ 162. Permanent capital; increase or decrease. Every private banker\nshall keep unimpaired in his banking business the amount of permanent\ncapital specified in his verified certificate. From time to time, with\nthe written approval of the superintendent and upon good cause sho…

§ 163. Restrictions as to place of business. The office of a private\nbanker shall not be located in the same room with, or in a room\nconnecting with, any bank, trust company, savings bank, or national\nbank.\n

§ 164. Change of location. Any private banker may make a written\napplication to the superintendent to change the location of his office\nto another place in the same city or village. The application shall\nstate the reason for such proposed change and shall be verified by such\…

§ 165. Segregation of investments; title to be taken in descriptive\nname. 1. Every private banker shall segregate and keep separate and\napart from all other property and assets of the individual or\npartnership all securities and property, and the evidences of title\nthereto, …

§ 166. Depositors preferred in case of failure or suspension. In case\nof the failure or suspension of any private banker, the claims of\npersons for money on deposit or delivered for transmission shall be\npreferred against such assets as shall be shown by the books of such\npr…

§ 167. Reserves against deposits. Every private banker shall maintain\ntotal reserves against his deposits of the same amount and kind and on\nhand or on deposit to the same extent as is at the time required by or\npursuant to the provisions of this chapter of a bank doing busin…

§ 168. Restrictions on acceptance of deposits and payment of interest.\nNo private banker shall:\n (1) Accept any amount for deposit if after the acceptance of such\namount the average amount of the deposits received from all depositors\nduring the twelve month period ending upo…

§ 171. Repayment of deposits standing in the names of minors, trustees\nor joint depositors; repayment where adverse claim is asserted;\ninterpleader in certain actions; effect of claims or advices originating\nin, and statutes, rules or regulations purporting to be in force in\…

§ 172. Restrictions on investments. 1. Every private banker may,\nsubject to the limitations and restrictions contained in this article,\nmake such investments of funds held by him as a private banker in real\nor personal securities, or personal property, as are consistent with\…

§ 173. Rate of interest; effect of usury. 1. No private banker shall\ntake, receive, reserve or charge on any loan or discount made, or upon\nany note, bill of exchange or other evidence of debt, interest as\ncomputed pursuant to this section, at a rate greater than the rate\npr…

§ 174. Restrictions on purchases of, and loans on real estate. 1. No\nprivate banker shall purchase with funds held by him as private banker\nany real estate except a plot upon which there is or may be erected a\nbuilding suitable for the convenient transaction of his business; …

§ 175. Books and records. 1. Every private banker shall keep separate\nand complete books of account in which shall be promptly entered the\ndetails of all business transacted by him as a private banker including\nstatements in detail of the liabilities incurred by him as a priv…

§ 176. Reports required by superintendent; penalty for failure to\nmake. Within fifteen days after service upon any private banker of the\nnotice provided for by section thirty-seven of this chapter, he shall\nmake a written report to the superintendent of the financial conditio…

§ 177. Official communications from superintendent. Every official\ncommunication, as defined in article two of this chapter, directed to\nany private banker, shall, if such private banker is a partnership, be\nsubmitted by the person receiving it to the members thereof present …

§ 178. Business of deceased private banker; continuation; liquidation.\nIn case of the death of an individual engaged in the business of a\nprivate banker, his executor, administrator or other legal\nrepresentative, and in case of the death of a member of a partnership so\nengag…

§ 179. Effect of revocation of authorization certificate. Whenever\nthe superintendent shall have revoked the authorization certificate of\nany private banker, and shall have taken the action to make such\nrevocation effective specified in article two of this chapter, all the\nr…

§ 18. Fees for copies and certifications. Notwithstanding any\nprovision of this chapter to the contrary, for every copy of any paper\nfiled in the department and for the certification thereof, the\nsuperintendent may charge such amounts by regulation as the\nsuperintendent, in …

§ 18-a. Application fees. 1. The provisions of this section shall only\nbe applicable to applications for which a fee is authorized to be\nimposed by any other provision of this chapter or regulations\npromulgated thereunder.\n 2. The fees set forth in this section may be impose…

§ 18-b. Holocaust reparations payment fees. 1. For the purposes of\nthis section, "victims or targets of Nazi persecution" means any\nindividual, corporation, partnership, sole proprietorship,\nunincorporated association, community, congregation, group,\norganization, or other e…