Title BNK, Banking

§ 724. Severability of provisions. If any provision of this article, or the application of such provision to any person or circumstance, shall be held invalid, illegal or unenforceable, the remainder of the article, and the application of such provision to persons or circumstanc…

§ 725. Compliance with other laws. 1. Student loan servicers shall engage in the business of servicing student loans in conformity with the provisions of the financial services law, this chapter, such rules and regulations as may be promulgated by the superintendent thereunder a…

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

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

* § 737. License or authorization. 1. No person or other entity, except an exempt organization or an authorized buy-now-pay-later lender as defined in this article, shall act as a buy-now-pay-later lender without first obtaining a license from the superintendent under this artic…

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

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

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

* § 741. Grounds for revocation or suspension of license; procedure. 1. A license granted under this article may be revoked or suspended by the superintendent upon a finding that: (a) the licensee has violated any applicable law or regulation; (b) any fact or condition exists wh…

* § 742. Superintendent authorized to examine. 1. The superintendent shall have the power to make such investigations as the superintendent shall deem necessary to determine whether any buy-now-pay-later lender or any other person has violated any of the provisions of this artic…

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

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

* § 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 disclose or cause to be disclosed to consumers the terms of buy-now-pay-later loans, including, without limitation, the cost, such as interest and fees, repayment schedule, the means by which a consumer may dispu…

* § 747. Authority of superintendent. 1. The superintendent is authorized to promulgate such general rules and regulations as may be appropriate to implement the provisions of this article, protect consumers, and ensure the solvency and financial integrity of buy-now-pay-later l…

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

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

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

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

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

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

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

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

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

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

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

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

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

§ 75-l. Preemption. 1. Except as provided in subdivision two of this section, this article shall supersede and preempt all rules, regulations, codes, statutes or ordinances of all cities, counties, municipalities, and local agencies regarding customer safety at automated teller …

§ 75-m. Variances and exemptions from automated teller machine security measures. 1. Except in cities having a population of one million or more, and in accordance with the guidelines set forth in this article, the superintendent, pursuant to rules and regulations promulgated by…

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

§ 75-o. Severability. If any word, phrase, clause, sentence, paragraph, section or part of this article shall be adjudged by any court of competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in it…

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

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

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

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

§ 8003. Authorization of amendment or change. 1. Amendment of the organization certificate may be authorized by vote of the holders of a majority of all outstanding shares entitled to vote thereon at a meeting of stockholders. 2. This section shall not alter the vote required by…

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

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

§ 8006. Provisions as to certain proceedings. 1. The superintendent shall not file a certificate of amendment reviving the existence of a corporation unless the consent of the state tax commission to the revival is delivered to the superintendent. If the name of the corporation …

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

§ 85. Community bank deposit program; purpose. In recognition of the economic benefits and stimulus which result from the placement of deposits in local banks, the community bank deposit program is hereby created to authorize and encourage the state comptroller and the commissio…

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

§ 87. Deposits. 1. Notwithstanding any provisions of law to the contrary, the state comptroller and the commissioner of taxation and finance shall, for the purposes of administering moneys in accordance with the provisions of sections ninety-eight-a and one hundred five of the s…

§ 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. No act of a corporation formed under this chapter, or of a corporation formed under any other statute or special act having as its purpose or among its purposes a purpose for which a corporation may be formed under this chapter, and no transfer of r…

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

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

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

§ 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…