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N.Y. Banking Law § 136-A Purchase of assets of national banking association by bank or trust company
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§ 136-a. Purchase of assets of national banking association by bank or trust company. 1. A state bank or trust company may acquire, whether by purchase or otherwise, other than by merger, all or a substantial part of the assets of a national banking association, provided that th…
N.Y. Banking Law § 136-B Approval of superintendent
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§ 136-b. Approval of superintendent. The superintendent shall approve or disapprove of a proposed merger as authorized by section one hundred thirty-six of this article or a proposed acquisition of all or a substantial part of the assets of a national banking association as auth…
N.Y. Banking Law § 136-C Effect of merger or conversion of national banking association into state bank
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§ 136-c. Effect of merger or conversion of national banking association into state bank. 1. At the time when a merger or conversion under sections one hundred thirty-six and one hundred thirty-six-b of this chapter becomes effective. (a) the resulting state bank shall be conside…
N.Y. Banking Law § 137 Change of state bank into national banking association by conversion, merger or consolidation
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§ 137. Change of state bank into national banking association by conversion, merger or consolidation. 1. A state bank may, by vote of the stockholders owning at least two-thirds in amount of its stock, convert into, or merge or consolidate with, a national banking association un…
N.Y. Banking Law § 138 Foreign branches; performance of contracts and repayment of deposits
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§ 138. Foreign branches; performance of contracts and repayment of deposits. 1. Notwithstanding section 1--301 of the uniform commercial code, any bank or trust company or national bank located in this state which in accordance with the provisions of this chapter or otherwise ap…
N.Y. Banking Law § 139 Saving clause
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§ 139. Saving clause. All banks which shall have been authorized by the superintendant to exercise fiduciary powers pursuant to this chapter, as from time to time in effect, shall be known as trust companies subject to the provisions of this article applicable to trust companies…
N.Y. Banking Law § 14 Additional powers of the superintendent
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§ 14. Additional powers of the superintendent. 1. For the purpose of effectuating the policy declared in section ten of this article, without limiting any other powers that the superintendent is permitted by law to exercise, the superintendent shall have the power to make, alter…
N.Y. Banking Law § 14-A Rate of interest; superintendent of financial services to adopt regulations
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§ 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…
N.Y. Banking Law § 14-B Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts
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§ 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…
N.Y. Banking Law § 14-C Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts
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§ 14-c. Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts. 1. The superintendent of financial services shall promulgate rules and regulations with respect to the disclosure of information on savings…
N.Y. Banking Law § 14-D Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d...
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§ 14-d. Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for deposit in a customer's account. 1. It is the public policy of this state to provide all banking customers with the ability to draw aga…
N.Y. Banking Law § 14-E Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form
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§ 14-e. Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form. 1. Notwithstanding any other provision of law to the contrary, the superintendent is authorized to promulgate such rules and regulations as shall faci…
N.Y. Banking Law § 14-F Power of the superintendent of financial services to require the provision of basic banking services
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§ 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…
N.Y. Banking Law § 140-A Stock option plans
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§ 140-a. Stock option plans. Subject to such regulations and restrictions as may be prescribed by the superintendent, every bank and every trust company may grant options to purchase authorized and unissued shares of its capital stock to officers, directors and employees, for a …
N.Y. Banking Law § 141 Definitions
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§ 141. Definitions. 1. "Banking institution," when used in this article, means a bank, a trust company, a stock-form savings bank or a stock-form savings and loan association. 2. "Company," when used in this article, means any corporation, partnership, trust, unincorporated asso…
N.Y. Banking Law § 142 Limitations on, and regulation of, bank holding companies
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§ 142. Limitations on, and regulation of, bank holding companies. 1. It shall be unlawful for any person knowingly to borrow, directly or indirectly, any money or property for the purpose of enabling such person to pay for or to hold shares of stock of a bank holding company fro…
N.Y. Banking Law § 142-A Limitation on acquisition of newly chartered banking institutions
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§ 142-a. Limitation on acquisition of newly chartered banking institutions. 1. No bank holding company may acquire control of any banking institution which has been chartered for less than five years and has its principal office in a city or village with a population of fifty th…
N.Y. Banking Law § 143 Limitations on directors, officers and employees
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§ 143. Limitations on directors, officers and employees. 1. Every director of a bank holding company who is contingently obligated on any loan or other extension of credit made by a banking subsidiary of the bank holding company of which he is a member of the board of directors …
N.Y. Banking Law § 143-A Acquisitions by companies of all the capital stock of banks and trust companies; no change of ultimate control
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§ 143-a. Acquisitions by companies of all the capital stock of banks and trust companies; no change of ultimate control. 1. A company having capital stock or membership interests may acquire all the capital stock or membership interests of one or more corporations organized unde…
N.Y. Banking Law § 143-B Acquisition by companies of control of banking institutions
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§ 143-b. Acquisition by companies of control of banking institutions. 1. It shall be unlawful except with the prior approval of the superintendent for any company to acquire control of any banking institution, directly or indirectly, provided, however, that the provisions of thi…
N.Y. Banking Law § 145 Penalties; restraining orders and injunctions
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§ 145. Penalties; restraining orders and injunctions. 1. Any company which wilfully violates any provision of this article is guilty of a misdemeanor and upon conviction thereof shall be fined not more than one thousand dollars for each day during which such violation continues.…
N.Y. Banking Law § 146 Saving provision
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§ 146. Saving provision. Nothing herein contained shall be interpreted or construed as approving any act, action or conduct which is or has been or may be in violation of existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding, p…
N.Y. Banking Law § 147 Separability of provisions
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§ 147. Separability of provisions. If any provision of this article, or the application of such provision to any individual, company or circumstance, shall be held invalid, the remainder of the article, and the application of such provision to individuals, companies or circumsta…
N.Y. Banking Law § 150 Definitions
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§ 150. Definitions. 1. "Subsidiary trust company", when used in this article, means a trust company which is subject to the provisions of this article. 2. "Bank holding company" and "subsidiary", when used in this article, shall each have the same meaning specified in section on…
N.Y. Banking Law § 151 Organization of subsidiary trust companies
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§ 151. Organization of subsidiary trust companies. A subsidiary trust company shall be organized in accordance with the provisions of this chapter relating to the organization of trust companies. All of the outstanding voting stock of a subsidiary trust company shall be owned by…
N.Y. Banking Law § 152 Business of subsidiary trust companies; limitation on powers
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§ 152. Business of subsidiary trust companies; limitation on powers. A subsidiary trust company shall have all of the powers of and be entitled to engage in the business of a trust company, provided that a subsidiary trust company shall not have the power to accept deposits.
N.Y. Banking Law § 153 Offices
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§ 153. Offices. Notwithstanding the provisions of sections twenty-nine and one hundred five of this chapter, (a) a subsidiary trust company may open and occupy a trust office, including its principal office, at any one or more locations in the state of New York at which the owni…
N.Y. Banking Law § 154 Transfer of fiduciary relationships from affiliated banks or trust companies to subsidiary trust companies
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§ 154. Transfer of fiduciary relationships from affiliated banks or trust companies to subsidiary trust companies. 1. (a) At any time or times after the issuance to it by the superintendent of the authorization certificate specified in article two of this chapter, a subsidiary t…
N.Y. Banking Law § 155 Applicable laws and regulations
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§ 155. Applicable laws and regulations. To the extent not inconsistent with provisions of this article, a subsidiary trust company shall be subject to the laws of the state of New York generally applicable to trust companies. Nothing in this article shall be deemed to affect in …
N.Y. Banking Law § 160 Verified certificate
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§ 160. Verified certificate. Any individual or partnership desiring to engage in business as a private banker shall submit to the superintendent a verified certificate in duplicate which shall state: 1. The full name, residence and post office address of such individual or of ea…
N.Y. Banking Law § 161 Authorization certificate
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§ 161. Authorization certificate. If the superintendent shall issue an authorization certificate as provided in article two of this chapter, such individual or partnership may engage in the business of banking including receiving deposits subject to check or for repayment upon t…
N.Y. Banking Law § 162 Permanent capital; increase or decrease
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§ 162. Permanent capital; increase or decrease. Every private banker shall keep unimpaired in his banking business the amount of permanent capital specified in his verified certificate. From time to time, with the written approval of the superintendent and upon good cause shown,…
N.Y. Banking Law § 163 Restrictions as to place of business
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§ 163. Restrictions as to place of business. The office of a private banker shall not be located in the same room with, or in a room connecting with, any bank, trust company, savings bank, or national bank.
N.Y. Banking Law § 164 Change of location
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§ 164. Change of location. Any private banker may make a written application to the superintendent to change the location of his office to another place in the same city or village. The application shall state the reason for such proposed change and shall be verified by such pri…
N.Y. Banking Law § 165 Segregation of investments; title to be taken in descriptive name
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§ 165. Segregation of investments; title to be taken in descriptive name. 1. Every private banker shall segregate and keep separate and apart from all other property and assets of the individual or partnership all securities and property, and the evidences of title thereto, in w…
N.Y. Banking Law § 166 Depositors preferred in case of failure or suspension
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§ 166. Depositors preferred in case of failure or suspension. In case of the failure or suspension of any private banker, the claims of persons for money on deposit or delivered for transmission shall be preferred against such assets as shall be shown by the books of such privat…
N.Y. Banking Law § 167 Reserves against deposits
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§ 167. Reserves against deposits. Every private banker shall maintain total reserves against his deposits of the same amount and kind and on hand or on deposit to the same extent as is at the time required by or pursuant to the provisions of this chapter of a bank doing business…
N.Y. Banking Law § 168 Restrictions on acceptance of deposits and payment of interest
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§ 168. Restrictions on acceptance of deposits and payment of interest. No private banker shall: (1) Accept any amount for deposit if after the acceptance of such amount the average amount of the deposits received from all depositors during the twelve month period ending upon the…
N.Y. Banking Law § 171 Repayment of deposits standing in the names of minors, trustees or joint depositors; repayment where adverse claim is asserted; interplea...
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§ 171. Repayment of deposits standing in the names of minors, trustees or joint depositors; repayment where adverse claim is asserted; interpleader in certain actions; effect of claims or advices originating in, and statutes, rules or regulations purporting to be in force in occ…
N.Y. Banking Law § 172 Restrictions on investments
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§ 172. Restrictions on investments. 1. Every private banker may, subject to the limitations and restrictions contained in this article, make such investments of funds held by him as a private banker in real or personal securities, or personal property, as are consistent with saf…
N.Y. Banking Law § 173 Rate of interest; effect of usury
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§ 173. Rate of interest; effect of usury. 1. No private banker shall take, receive, reserve or charge on any loan or discount made, or upon any note, bill of exchange or other evidence of debt, interest as computed pursuant to this section, at a rate greater than the rate prescr…
N.Y. Banking Law § 174 Restrictions on purchases of, and loans on real estate
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§ 174. Restrictions on purchases of, and loans on real estate. 1. No private banker shall purchase with funds held by him as private banker any real estate except a plot upon which there is or may be erected a building suitable for the convenient transaction of his business; nor…
N.Y. Banking Law § 175 Books and records
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§ 175. Books and records. 1. Every private banker shall keep separate and complete books of account in which shall be promptly entered the details of all business transacted by him as a private banker including statements in detail of the liabilities incurred by him as a private…
N.Y. Banking Law § 176 Reports required by superintendent; penalty for failure to make
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§ 176. Reports required by superintendent; penalty for failure to make. Within fifteen days after service upon any private banker of the notice provided for by section thirty-seven of this chapter, he shall make a written report to the superintendent of the financial condition o…
N.Y. Banking Law § 177 Official communications from superintendent
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§ 177. Official communications from superintendent. Every official communication, as defined in article two of this chapter, directed to any private banker, shall, if such private banker is a partnership, be submitted by the person receiving it to the members thereof present at …
N.Y. Banking Law § 178 Business of deceased private banker; continuation; liquidation
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§ 178. Business of deceased private banker; continuation; liquidation. In case of the death of an individual engaged in the business of a private banker, his executor, administrator or other legal representative, and in case of the death of a member of a partnership so engaged, …
N.Y. Banking Law § 179 Effect of revocation of authorization certificate
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§ 179. Effect of revocation of authorization certificate. Whenever the superintendent shall have revoked the authorization certificate of any private banker, and shall have taken the action to make such revocation effective specified in article two of this chapter, all the right…
N.Y. Banking Law § 18 Fees for copies and certifications
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§ 18. Fees for copies and certifications. Notwithstanding any provision of this chapter to the contrary, for every copy of any paper filed in the department and for the certification thereof, the superintendent may charge such amounts by regulation as the superintendent, in his …
N.Y. Banking Law § 18-A Application fees
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§ 18-a. Application fees. 1. The provisions of this section shall only be applicable to applications for which a fee is authorized to be imposed by any other provision of this chapter or regulations promulgated thereunder. 2. The fees set forth in this section may be imposed not…
N.Y. Banking Law § 18-B Holocaust reparations payment fees
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§ 18-b. Holocaust reparations payment fees. 1. For the purposes of this section, "victims or targets of Nazi persecution" means any individual, corporation, partnership, sole proprietorship, unincorporated association, community, congregation, group, organization, or other entit…