Title BNK, Banking

§ 724. Severability of provisions. If any provision of this article,\nor the application of such provision to any person or circumstance,\nshall be held invalid, illegal or unenforceable, the remainder of the\narticle, and the application of such provision to persons or\ncircums…

§ 725. Compliance with other laws. 1. Student loan servicers shall\nengage in the business of servicing student loans in conformity with the\nprovisions of the financial services law, this chapter, such rules and\nregulations as may be promulgated by the superintendent thereunde…

* § 735. Short title. This article shall be known and may be cited as\nthe "buy-now-pay-later act".\n * NB Effective upon the one hundred eightieth day after the\npromulgation of rules and/or regulations by the department of financial\nservices to effectuate certain provisions (…

* § 736. Definitions. As used in this article, the following terms\nshall have the following meanings:\n 1. "Authorized buy-now-pay-later lender" means a buy-now-pay-later\nlender authorized by the superintendent pursuant to subdivision two of\nsection seven hundred thirty-seven…

* § 737. License or authorization. 1. No person or other entity,\nexcept an exempt organization or an authorized buy-now-pay-later lender\nas defined in this article, shall act as a buy-now-pay-later lender\nwithout first obtaining a license from the superintendent under this\na…

* § 738. Conditions precedent to issuing a license; procedure where\napplication is denied. 1. After the filing of an application for a\nlicense accompanied by payment of the fee pursuant to paragraph b of\nsubdivision one of section seven hundred thirty-seven of this article,\n…

* § 739. License provisions and posting. 1. A license issued under\nthis article shall state the name and address of the licensee, and if\nthe licensee be a co-partnership or association, the names of the\nmembers thereof, and for a corporation, the date and place of its\nincorp…

* § 740. Application for acquisition of control of buy-now-pay-later\nlender by purchase of stock. 1. It shall be unlawful except with the\nprior approval of the superintendent for any action to be taken which\nresults in a change of control of the business of a licensee. Prior …

* § 741. Grounds for revocation or suspension of license; procedure.\n1. A license granted under this article may be revoked or suspended by\nthe superintendent upon a finding that:\n (a) the licensee has violated any applicable law or regulation;\n (b) any fact or condition exi…

* § 742. Superintendent authorized to examine. 1. The superintendent\nshall have the power to make such investigations as the superintendent\nshall deem necessary to determine whether any buy-now-pay-later lender\nor any other person has violated any of the provisions of this ar…

* § 743. Licensee's books and records; reports. 1. A buy-now-pay-later\nlender shall keep and use in its business such books, accounts and\nrecords as will enable the superintendent to determine whether such\nbuy-now-pay-later lender is complying with the provisions of this\nart…

* § 744. Acts prohibited. 1. No buy-now-pay-later lender shall take or\ncause to be taken any confession of judgment or any power of attorney to\nconfess judgment or to appear for the consumer in a judicial proceeding.\n 2. No buy-now-pay-later lender shall:\n (a) employ any sch…

* § 745. Interest and other charges. 1. No buy-now-pay-later lender\nshall: (a) charge interest unless the rate of interest to be charged is\nallowable pursuant to its license or authorization; (b) charge interest\nunless the rate of interest to be charged is clearly disclosed a…

* § 746. Consumer protections. 1. A buy-now-pay-later lender shall\ndisclose or cause to be disclosed to consumers the terms of\nbuy-now-pay-later loans, including, without limitation, the cost, such\nas interest and fees, repayment schedule, the means by which a consumer\nmay d…

* § 747. Authority of superintendent. 1. The superintendent is\nauthorized to promulgate such general rules and regulations as may be\nappropriate to implement the provisions of this article, protect\nconsumers, and ensure the solvency and financial integrity of\nbuy-now-pay-lat…

* § 748. Penalties. 1. Any person, including any member, officer,\ndirector or employee of a buy-now-pay-later lender, who violates or\nparticipates in the violation of section seven hundred thirty-seven of\nthis article, or who knowingly makes any incorrect statement of a\nmate…

* § 749. Severability. If any provision of this article or the\napplication thereof to any person or circumstances is held to be\ninvalid, such invalidity shall not affect other provisions or\napplications of this article which can be given effect without the\ninvalid provision …

§ 75-a. Legislative intent. The legislature hereby finds that\nautomated teller machines are an integral part of consumers' lives and\nthat automated teller machines are used by millions of New Yorkers,\nstatewide, on a daily basis. It is the legislature's intent to ensure\nthe …

§ 75-b. Definitions. For purposes of this article, the following terms\nshall have the following meanings:\n 1. "Access device" means a card, code, or other means of access to a\nconsumer's account, or any combination thereof, that may be used by the\nconsumer for the purpose of…

§ 75-c. Security measures. Every banking institution shall maintain\nthe following security measures with respect to each of the automated\nteller machine facilities within its dominion and control:\n 1. A surveillance camera or cameras, which shall view and record all\npersons …

§ 75-d. List of facilities. Any banking institution which operates an\nautomated teller machine facility shall file a list of such facilities\nwith the department, including the street addresses, intersecting\nstreets, hours of operation, and the telephone number of the banking\…

§ 75-e. Consumer safety information. Upon the original issuance or\nreissuance of an automated teller machine facility access device, the\nissuing banking institution shall provide its customers with written\ninformation concerning safety precautions to be employed while using a…

§ 75-f. Enforcement and statistics. 1. The department is authorized\nto enforce this article.\n 2. Statistics of crimes associated with the use of automated teller\nmachine facilities compiled and maintained by any law enforcement agency\nshall be made available upon the request…

§ 75-g. Report of compliance. 1. By the fifteenth day of January and\nJuly of each year (or the following business day if such day is not a\nbusiness day), every banking institution which had an automated teller\nmachine facility which was in operation on the fifteenth day of th…

§ 75-h. Compliance with local building code and all other applicable\nprovisions of law. Unless otherwise provided in this article, nothing\ncontained in this article shall be construed to exempt or relieve any\nbanking institution from complying with all relevant provisions of …

§ 75-i. Facilities not subject to this article. The provisions of\nthis article shall not apply to any unenclosed automated teller machine\nlocated in any building, structure or space whose primary purpose or\nfunction is unrelated to banking activities, including but not limite…

§ 75-j. Civil penalties. 1. Any banking institution found to be in\nviolation of any provision of section seventy-five-c of this article in\na compliance report under section seventy-five-g of this article or\notherwise found by the department to be in violation of any provision…

§ 75-k. Collection of penalties. The superintendent shall have the\ndiscretion to report to the attorney general any failure, after due\nnotice, to make payments of penalties incurred under this article. The\nattorney general shall, thereupon, in the name of the superintendent, …

§ 75-l. Preemption. 1. Except as provided in subdivision two of this\nsection, this article shall supersede and preempt all rules,\nregulations, codes, statutes or ordinances of all cities, counties,\nmunicipalities, and local agencies regarding customer safety at\nautomated tel…

§ 75-m. Variances and exemptions from automated teller machine\nsecurity measures. 1. Except in cities having a population of one\nmillion or more, and in accordance with the guidelines set forth in this\narticle, the superintendent, pursuant to rules and regulations\npromulgate…

§ 75-n. Rules and regulations. The superintendent shall promulgate\nsuch rules and regulations as necessary to define and implement the\nprovisions of this article.\n

§ 75-o. Severability. If any word, phrase, clause, sentence,\nparagraph, section or part of this article shall be adjudged by any\ncourt of competent jurisdiction to be invalid, such judgment shall not\naffect, impair or invalidate the remainder thereof, but shall be\nconfined i…

§ 78. Powers with respect to certain crimes and frauds. If the\nsuperintendent has a reasonable suspicion that a person or entity is\nengaging in or has engaged in fraud (as interpreted under this chapter,\nthe insurance law or the financial services law) or a misdemeanor or\nfe…

§ 8. Deposits by custodian designated by administrator of veterans'\naffairs, or by person certified by social security administration. When\nany deposit shall be made for the benefit of an individual by the person\nwho has been designated the custodian of such individual by the…

§ 8001. Right to amend organization certificate. 1. A corporation may\namend its organization certificate, from time to time, in any and as\nmany respects as may be desired, if such amendment contains only such\nprovisions as might be lawfully contained in an original organizati…

§ 8002. Reduction of capital stock by amendment. A corporation may\nreduce its capital stock by an amendment of its organization certificate\nunder section eight thousand one which:\n 1. Reduces the par value of any issued shares.\n 2. Changes issued shares under subdivision two…

§ 8003. Authorization of amendment or change. 1. Amendment of the\norganization certificate may be authorized by vote of the holders of a\nmajority of all outstanding shares entitled to vote thereon at a meeting\nof stockholders.\n 2. This section shall not alter the vote requir…

§ 8004. Class voting on amendment. 1. Notwithstanding any provision in\nthe organization certificate, the holders of shares of a class or\nseries, shall be entitled to vote and to vote as a class upon the\nauthorization of an amendment and, in addition to the authorization of\nt…

§ 8005. Certificate of amendment or of change; contents. 1. To\naccomplish any amendment or change, a certificate of amendment, entitled\n"Certificate of amendment of the organization certificate of ...........\n(name of corporation) under section 8005 of the Banking Law" shall …

§ 8006. Provisions as to certain proceedings. 1. The superintendent\nshall not file a certificate of amendment reviving the existence of a\ncorporation unless the consent of the state tax commission to the\nrevival is delivered to the superintendent. If the name of the\ncorporat…

§ 8007. Restated organization certificate. 1. A corporation, when\nauthorized by the board, may restate in a single certificate the text of\nits organization certificate, as amended theretofore, without making any\nfurther amendment or change thereby, except that it may include …

§ 85. Community bank deposit program; purpose. In recognition of the\neconomic benefits and stimulus which result from the placement of\ndeposits in local banks, the community bank deposit program is hereby\ncreated to authorize and encourage the state comptroller and the\ncommi…

§ 86. Eligibility. 1. To be eligible to receive deposits, or to renew\nexisting deposits under this program, a bank, trust company, savings\nbank or savings and loan association: (a) must be chartered under the\nprovisions of this chapter and (b) must have a current CRA rating o…

§ 87. Deposits. 1. Notwithstanding any provisions of law to the\ncontrary, the state comptroller and the commissioner of taxation and\nfinance shall, for the purposes of administering moneys in accordance\nwith the provisions of sections ninety-eight-a and one hundred five of\nt…

§ 9. Checks drawn against corporate funds or payable to corporations;\nno notice of defense against or claim to check. Notwithstanding section\n3-304 of the uniform commercial code, the drawing of a check by an\nofficer or agent of a corporation against the account of, or in the…

§ 9-a. Defense of ultra vires.\n No act of a corporation formed under this chapter, or of a corporation\nformed under any other statute or special act having as its purpose or\namong its purposes a purpose for which a corporation may be formed under\nthis chapter, and no transfer…

§ 9-b. Actions or special proceedings by superintendent or\n attorney-general.\n 1. In addition to any action or special proceeding which may be\nmaintained by either of them under any other section of this chapter,\nthe superintendent or the attorney-general may maintain an acti…

§ 9-c. Superintendent's or attorney-general's action for judicial\n dissolution.\n 1. The superintendent or the attorney-general may bring an action for\nthe dissolution of a corporation formed under any article of this\nchapter or formed under any other statute or special act ha…

§ 9-d. Enforcement of section two hundred ninety-six-a of the\nexecutive law. In addition to the powers conferred upon the\nsuperintendent of financial services by this chapter, he shall enforce\nsection two hundred ninety-six-a of the executive law by taking such\naction as is …

§ 9-f. Geographic discrimination in making mortgage loans prohibited.\n1. No banking institution as such term is defined in this section shall\nrefuse to make a prudent loan upon the security of real property or\notherwise discriminate with respect thereto because of the geograp…