™Your Policy Risk Impact Agent
0 chapters · 899 sections in this title.
N.Y. Banking Law § 602 Effect of merger
2.2K chars
§ 602. Effect of merger. At the time when a merger becomes effective: (1) the receiving corporation shall be considered the same business and corporate entity as each corporation merged into it; (2) all of the property, rights, powers and franchises of any corporation that shall…
N.Y. Banking Law § 6020 Agreements as to voting
0.3K chars
§ 6020. Agreements as to voting. An agreement between two or more stockholders, if in writing and signed by the parties thereto, may provide that in exercising any voting rights, the shares held by them shall be voted as therein provided, or as they may agree, or as determined i…
N.Y. Banking Law § 6021 Preemptive rights
6.9K chars
§ 6021. Preemptive rights. 1. As used in this section, the term: (a) "Unlimited dividend rights" means the right without limitation as to amount either to all or to a share of the balance of current or liquidating dividends after the payment of dividends on any shares entitled t…
N.Y. Banking Law § 6022 Procedure to enforce stockholder's right to receive payment for shares
11.5K chars
§ 6022. Procedure to enforce stockholder's right to receive payment for shares. 1. A stockholder intending to enforce his right under a section of this chapter to receive payment for his shares if the proposed corporate action referred to therein is taken shall file with the cor…
N.Y. Banking Law § 6023 Books and records; right of inspection, prima facie evidence
3.8K chars
§ 6023. Books and records; right of inspection, prima facie evidence. 1. Each corporation shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its stockholders, board and executive committee, if any, and shall keep at the offi…
N.Y. Banking Law § 6024 Infant securityholders
1.6K chars
§ 6024. Infant securityholders. 1. A corporation may treat an infant who holds shares, capital notes or debentures of such corporation as having capacity to receive and to empower others to receive dividends, interest, principal and other payments and distributions, to vote or e…
N.Y. Banking Law § 6025 Stockholders' derivative action brought in the right of the corporation to procure a judgment in its favor
2.3K chars
§ 6025. Stockholders' derivative action brought in the right of the corporation to procure a judgment in its favor. 1. An action may be brought in the right of a corporation to procure a judgment in its favor, by a holder of shares or of a beneficial interest in such shares. 2. …
N.Y. Banking Law § 6026 Security for expenses in stockholders' derivative action brought in the right of the corporation to procure a judgment in its favor
1.4K chars
§ 6026. Security for expenses in stockholders' derivative action brought in the right of the corporation to procure a judgment in its favor. In any action specified in section six thousand twenty-five, if the plaintiff or plaintiffs hold less than five percent of any class of th…
N.Y. Banking Law § 6029 Liability of stockholders for wages due to laborers, servants or employees
3.0K chars
§ 6029. Liability of stockholders for wages due to laborers, servants or employees. 1. The ten largest stockholders, as determined by the fair value of their beneficial interest as of the beginning of the period on which the unpaid services referred to in this section are perfor…
N.Y. Banking Law § 603 Issuance of new certificates of stock or other consideration
0.5K chars
§ 603. Issuance of new certificates of stock or other consideration. The receiving corporation may require the return of the original certificate or certificates held by each stockholder or shareholder in such other corporation or corporations and may issue in lieu thereof new c…
N.Y. Banking Law § 604 Rights of dissenting stockholders
1.4K chars
§ 604. Rights of dissenting stockholders. The following stockholders shall, subject to and by complying with section six thousand twenty-two of this chapter, have the right to receive payment of the fair value of their shares and the other rights and benefits provided by such se…
N.Y. Banking Law § 604-A Transfer of fiduciary relationships
3.5K chars
§ 604-a. Transfer of fiduciary relationships. 1. If any banking institution, including a bank or trust company, national banking association, savings bank, savings and loan association, federally chartered savings bank, federally chartered savings association, or a branch or age…
N.Y. Banking Law § 605 Voluntary liquidation; sale of assets; forfeiture of charter by non-user
25.6K chars
§ 605. Voluntary liquidation; sale of assets; forfeiture of charter by non-user. 1. Any corporate banking organization, the assets of which have a value at least equal to its liabilities, exclusive of any liability to shareholders or stockholders, as such, may voluntarily wind u…
N.Y. Banking Law § 605-A Transfer of deposit liabilities of bank or trust company; sale or pledge of assets to facilitate such transfer
4.8K chars
§ 605-a. Transfer of deposit liabilities of bank or trust company; sale or pledge of assets to facilitate such transfer. 1. A bank or trust company may, pursuant to a plan approved by the superintendent, enter into an agreement with another bank or trust company, whereby its lia…
N.Y. Banking Law § 6050 Company membership
0.3K chars
§ 6050. Company membership. The members of a limited liability investment company or limited liability trust company shall have all of the rights and obligations as set forth in the limited liability company law, except as otherwise provided in this chapter.
N.Y. Banking Law § 606 When superintendent may take possession of banking organization; when possession may be surrendered
9.2K chars
§ 606. When superintendent may take possession of banking organization; when possession may be surrendered. 1. The superintendent may, in his discretion, forthwith take possession of the business and property of any banking organization whenever it shall appear that such banking…
N.Y. Banking Law § 607 Manner and time within which taking possession may be tested
0.6K chars
§ 607. Manner and time within which taking possession may be tested. At any time within ten days after the superintendent has taken possession of the property and business of any banking organization such banking organization may apply to the supreme court in the judicial distri…
N.Y. Banking Law § 609 Resumption of business by bank, trust company or industrial bank; retirement of certificates; applicability to stock-form savings banks a...
26.5K chars
§ 609. Resumption of business by bank, trust company or industrial bank; retirement of certificates; applicability to stock-form savings banks and stock-form savings and loan associations. 1. Any bank, trust company, stock-form savings bank or stock-form savings and loan associa…
N.Y. Banking Law § 610 Resumption of business in accordance with plan of reorganization
2.4K chars
§ 610. Resumption of business in accordance with plan of reorganization. The superintendent, in his discretion, may permit a corporation of which he has taken possession or which is operating on a restricted basis pursuant to regulations promulgated by duly constituted authority…
N.Y. Banking Law § 611 Special deputies; assistants; counsel and other employees
1.3K chars
§ 611. Special deputies; assistants; counsel and other employees. The superintendent may, by certificate, under his hand and the official seal of the department, appoint one or more special deputy superintendents as agent or agents to assist him in liquidating the business and a…
N.Y. Banking Law § 611-A Appointment of single judge
0.6K chars
§ 611-a. Appointment of single judge. When the superintendent has taken possession of and is liquidating the business and property in this state of any banking organization under the provisions of this article, the superintendent shall be entitled to the appointment of a single …
N.Y. Banking Law § 612 Certificates to be recorded and received in evidence
1.3K chars
§ 612. Certificates to be recorded and received in evidence. The superintendent, deputy superintendents, and the special deputy superintendents designated under the provisions of section six hundred eleven of this chapter, are hereby authorized to subscribe and acknowledge writt…
N.Y. Banking Law § 612-A Payment of wages
0.6K chars
§ 612-a. Payment of wages. All wages actually owing to the employees\nof a banking organization in the possession of the superintendent for\nservices rendered within three months prior to the date when possession\nwas taken, not exceeding two thousand dollars to each employee, s…
N.Y. Banking Law § 613 Payment by superintendent of expenses of liquidation
1.7K chars
§ 613. Payment by superintendent of expenses of liquidation. The superintendent shall pay out of the funds in his hands of any banking organization of which he is in possession, all expenses of liquidation, subject to the approval of the supreme court in the judicial district in…
N.Y. Banking Law § 614 Obtaining possession of pleadings, et cetera, in actions against which attorneys' liens are asserted
1.4K chars
§ 614. Obtaining possession of pleadings, et cetera, in actions against which attorneys' liens are asserted. When the superintendent is in possession of any banking organization, and attorneys' liens are asserted by attorneys of such banking organization against any causes of ac…
N.Y. Banking Law § 615 On taking possession, superintendent shall notify those holding assets; effect of notification; turnover of assets and payment of debts o...
2.8K chars
§ 615. On taking possession, superintendent shall notify those holding assets; effect of notification; turnover of assets and payment of debts owed to the banking organization. When the superintendent shall take possession of the property and business of any banking organization…
N.Y. Banking Law § 616 Inventory of assets; where filed
0.5K chars
§ 616. Inventory of assets; where filed. After the superintendent shall have taken possession of and shall have determined to liquidate the property and business of any banking organization, he shall make in duplicate an inventory of the assets of such banking organization. He s…
N.Y. Banking Law § 617 Disposition of property held as bailee, or depositary; opening of safe deposit boxes; disposal of contents
9.0K chars
§ 617. Disposition of property held as bailee, or depositary; opening of safe deposit boxes; disposal of contents. 1. The superintendent may, after he has taken possession of any banking organization, cause to be mailed to each person claiming to be, or appearing upon the books …
N.Y. Banking Law § 618 Liquidation and conservation of assets; compromising debts and claims; deposit of moneys collected; preference; superintendent, as liquid...
5.2K chars
§ 618. Liquidation and conservation of assets; compromising debts and claims; deposit of moneys collected; preference; superintendent, as liquidator, authorized to borrow on and pledge assets of banks. 1. (a) The superintendent is authorized, upon taking possession of any bankin…
N.Y. Banking Law § 618-A Repudiation of contracts
14.9K chars
§ 618-a. Repudiation of contracts. 1. Except as otherwise provided in this section, when the superintendent has taken possession of the business and property in this state of a banking organization, unless the federal regulator or insurer is appointed as receiver or liquidator, …
N.Y. Banking Law § 619 Prosecution and defense of actions; actions preferred; limitations; power to execute instruments; exemption from filing and other fees
10.8K chars
§ 619. Prosecution and defense of actions; actions preferred; limitations; power to execute instruments; exemption from filing and other fees. 1. (a) For the purpose of executing any of the powers and performing any of the duties hereby conferred upon him, the superintendent may…
N.Y. Banking Law § 620 Notice to creditors to make proof of claims; form of claims; claims for priority of payment
3.2K chars
§ 620. Notice to creditors to make proof of claims; form of claims; claims for priority of payment. 1. When the superintendent shall have taken possession of any banking organization, and shall have determined to liquidate its affairs, he or she shall notify all persons who may …
N.Y. Banking Law § 620-A Certain claims shall not be accepted
0.4K chars
§ 620-a. Certain claims shall not be accepted. The superintendent shall not accept a claim based on an agreement with the banking organization unless the agreement is either reflected on the accounts, books or records of the banking organization or a creditor provides documentar…
N.Y. Banking Law § 622 List of claims duly presented; filing
0.8K chars
§ 622. List of claims duly presented; filing. The superintendent shall cause to be made in duplicate a complete list of all claims duly presented specifying the name of the claimant, the nature of the claim and the amount thereof. Such list shall also contain a statement of acco…
N.Y. Banking Law § 623 Filing objections to claims presented or listed; procedure upon claim under objection
0.9K chars
§ 623. Filing objections to claims presented or listed; procedure upon claim under objection. Within forty days after the superintendent shall have filed in his office a copy of the list of claims required by section six hundred twenty-two, objections to any claim duly presented…
N.Y. Banking Law § 624 Acceptance and rejection of claims and accounts; filing of list thereof; secured claims and accounts; determination of priorities
3.5K chars
§ 624. Acceptance and rejection of claims and accounts; filing of list thereof; secured claims and accounts; determination of priorities. 1. The superintendent shall, not later than sixty days after the time has expired to file objections to claims duly presented, accept or reje…
N.Y. Banking Law § 625 Effect of accepting claims and accounts; limitation upon actions to establish claims and accounts; necessary allegations; effect of judgment
4.6K chars
§ 625. Effect of accepting claims and accounts; limitation upon actions to establish claims and accounts; necessary allegations; effect of judgment. 1. When the superintendent has accepted a duly filed claim and has filed such claim endorsed "accepted" in his office, the claiman…
N.Y. Banking Law § 626 Judgments recovered shall not be liens
0.3K chars
§ 626. Judgments recovered shall not be liens. A lien shall not attach to any of the property or assets of any banking organization by reason of the entry of any judgment recovered against such banking organization after the superintendent has taken possession of its property an…
N.Y. Banking Law § 627 Dividends to creditors; distributions to stockholders; dissolution; destruction of documents
4.6K chars
§ 627. Dividends to creditors; distributions to stockholders; dissolution; destruction of documents. 1. At any time after the date fixed by the superintendent for the presentation of claims, the superintendent may, upon an order of the supreme court, declare and pay out of the f…
N.Y. Banking Law § 628 Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation
0.7K chars
§ 628. Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation. When the superintendent shall have taken possession of any banking organization for the purpose of liquidation, and Federal Deposit Insurance Corporation shall have made …
N.Y. Banking Law § 629 Payment of dividends to minors, trustees or joint depositors; payment of dividends where adverse claim is asserted; interpleader in certa...
3.1K chars
§ 629. Payment of dividends to minors, trustees or joint depositors; payment of dividends where adverse claim is asserted; interpleader in certain actions. 1. Where a claim or an account payable in the name of any minor has been accepted by the superintendent, dividends thereon …
N.Y. Banking Law § 630 Claims of shareholders and members of credit unions and savings and loan associations
1.0K chars
§ 630. Claims of shareholders and members of credit unions and savings and loan associations. For the purposes of sections six hundred six to six hundred thirty-one, both inclusive, of this chapter, the terms "depositors" and "creditors" shall be deemed to include shareholders o…
N.Y. Banking Law § 631 Actions against directors, trustees, managers or officers for violation of their official duties
0.5K chars
§ 631. Actions against directors, trustees, managers or officers for violation of their official duties. At any time while the superintendent is in possession of the property and business of any corporation, he may within six years after the cause of action has accrued institute…
N.Y. Banking Law § 633 Service of notice or process during time of war
2.0K chars
§ 633. Service of notice or process during time of war. Whenever, pursuant to the provisions of this article, any communication, notice or other paper or process is required to be given or served by the superintendent upon any person and the giving or service thereof is in any m…
N.Y. Banking Law § 634 Power to appoint regulator or insurer as receiver; additional powers
2.7K chars
§ 634. Power to appoint regulator or insurer as receiver; additional powers. Notwithstanding anything to the contrary in this chapter, the superintendent may, in his or her sole discretion, and upon such terms and conditions as the superintendent may approve, appoint as receiver…
N.Y. Banking Law § 635 Definitions
0.6K chars
§ 635. Definitions. 1. "Person" when used in this article means an individual, partnership, corporation, unincorporated association, joint stock association, trust or other group, however organized. 2. "License" when used in this article means any license duly issued by the supe…
N.Y. Banking Law § 636 When superintendent may take possession of license; when possession may be surrendered
2.0K chars
§ 636. When superintendent may take possession of license; when possession may be surrendered. 1. The superintendent may, in his discretion, forthwith take possession of the business and property of any licensee which is used in the business for which the license is granted when…
N.Y. Banking Law § 637 Powers of superintendent in possession; application for receiver
1.1K chars
§ 637. Powers of superintendent in possession; application for receiver. 1. When the superintendent has taken possession of the business and property of a licensee, he shall liquidate or otherwise deal with such business and property in accordance with the provisions of article …
N.Y. Banking Law § 638 Manner and time within which taking possession may be tested
0.6K chars
§ 638. Manner and time within which taking possession may be tested. At any time within ten days after the superintendent has taken possession of the business and property of any licensee, such licensee may apply to the supreme court in the judicial district in which its princip…
N.Y. Banking Law § 639 Severability
0.3K chars
§ 639. Severability. If any provision of this article, or the application of such provision to any person or circumstance shall be held invalid, the remainder of this article, and the application of such provision to persons or circumstances other than those to which it is held …