Title BNK, Banking

§ 9-g. Right of set off. 1. (a) No banking institution shall assert,\nclaim or exercise any right of set off against any deposit account into\nwhich social security or supplemental security income payments are\ndeposited pursuant to an agreement with such banking institution whi…

§ 9-h. Imposition of service charges prohibited. No banking\norganization shall impose any service charge with respect to any deposit\naccount as a result of the loss of a check or money which is properly\ndeposited with the banking organization by delivery to an employee of\nth…

* § 9-i. Close-out fees prohibited in certain cases. No banking\ninstitution, as that term is defined in section nine-f of this chapter,\nshall charge its customers a fee for the withdrawal of all funds from\nany account resulting in the closing of such account provided that suc…

* § 9-i. Prohibition on depositor of early withdrawal penalty in\ncertain cases. No banking institution, as that term is defined in\nsection nine-f of this chapter, shall impose any penalty for the\nrepayment of a time deposit prior to maturity where the depositor has\ndied or b…

§ 9-j. Disposal of records; customer accounts. 1. Every banking\ninstitution, which for purposes of this section means a bank, trust\ncompany, savings bank, savings and loan association, licensed foreign\nbanks and credit unions, with respect to written records no longer\nrequir…

§ 9-k. Sale of education loans. 1. "Banking institution" as used in\nthis section shall mean and include all banks, trust companies, savings\nbanks, savings and loan associations, credit unions and foreign banking\ncorporations whether incorporated, chartered, organized or licen…

§ 9-m. Return of checks. Any banking institution as that term is\ndefined in section nine-f of this chapter, except a credit union, and\nany other financial institution which offers consumer accounts, meaning\naccounts established by natural persons primarily for personal, famil…

§ 9-n. Trust accounts; address of beneficiary. 1. Every banking\ninstitution, which for the purposes of this section means a bank, trust\ncompany, savings bank, savings and loan association, licensed foreign\nbank or credit union, which shall hold accounts by depositors in such\…

§ 9-o. Mortgage loans; disclosure form. 1. For the purpose of this\nsection, the following terms shall have the following meanings:\n (a) "Mortgage lending institution" shall mean an insurance company,\nbanking organization, foreign banking corporation licensed by the\nsuperinte…

§ 9-p. Acceptance of certain checks for deposit. No banking\ninstitution as that term is defined in section nine-f of this chapter\nshall, as a policy or general practice, refuse to accept as a deposit\nmade with a teller by an account holder a check for the sole reason that\nit…

§ 9-r. Geographic restrictions. 1. No banking institution shall have a\npolicy or general practice of refusing to open a deposit account solely\non the basis of the geographic location of the depositor's residence or\nplace of business; provided that the banking office at which …

§ 9-s. Preauthorized electronic fund transfers. 1. Every banking\ninstitution which provides preauthorized electronic fund transfers from\nconsumer accounts shall, in accordance with regulations adopted by the\nsuperintendent of financial services, provide consumers with the rig…

§ 9-t. Unsolicited mail-loan checks. 1. For purposes of this section,\nthe following terms shall have the following meanings:\n (a) "lending institution" shall mean a licensed lender or a state or\nfederally chartered bank, trust company, savings bank, savings and loan\nassociat…

§ 9-u. ATM transactions by persons using foreign bank accounts. 1.\nSubject to the requirements of section three hundred ninety-nine-y of\nthe general business law, as added by chapter four hundred ninety-five\nof the laws of nineteen hundred ninety-nine, an agreement to operate…

§ 9-v. Savings promotion prize giveaway. A banking organization\norganized under or subject to the provisions of this chapter, federal\ncredit union, federal savings bank, federal savings and loan\nassociation, or national bank association may conduct a savings\npromotion in acc…

§ 9-w. Standard financial aid award letter. The superintendent of\nfinancial services in consultation with the president of the higher\neducation services corporation shall develop a standard financial aid\naward letter which shall clearly delineate (a) the estimated cost of\nat…

* § 9-x. Mortgage forbearance. 1. As used in this section, the\nfollowing terms shall have the following meanings:\n (a) "Covered period" means March 7, 2020 until the later of December\n31, 2021 or the date on which none of the provisions that closed or\notherwise restricted pu…

* § 9-x. Fees based on inactivity; notification. Notwithstanding any\nother provision of law or rule or regulation to the contrary, any\nfinancial institution subject to the provisions of this chapter,\nincluding any bank, trust company, savings bank, savings and loan\nassociati…

§ 9-y. Order of payment of checks and other debits, insufficient funds\ncharges and return deposit item charges. 1. Order of paying checks. (a)\nNotwithstanding any law, rule or regulation to the contrary, every\nbanking organization that provides checking services to consumer\n…

§ 9-z. Cashing of certain checks. 1. No bank, trust company, savings\nbank, savings and loan association or credit union shall, refuse to cash\na cashier's check, a payroll check, or a certified check in the amount\nof five hundred dollars or less, drawn on accounts in such inst…

§ 9001. Definitions. In this article, unless the context otherwise\nrequires:\n 1. "Corporation" means and includes all mutual savings banks, mutual\nsavings and loan associations, mutual holding companies and credit\nunions.\n 2. "Director" means any member of the governing boa…

§ 9001-a. Fingerprints. (a) Notwithstanding any other provision of\nlaw, every incorporator of a corporation shall, in addition to any other\nrequirements which may be imposed by the superintendent, submit\nsimultaneously with an application, his or her fingerprints in such form…

§ 9002. Application. 1. To the extent not inconsistent with articles\nsix, ten, ten-B and eleven, this article applies to every corporation\nand, to the extent herein provided, to every foreign corporation.\n 2. The business corporation law shall not apply to any corporation or\…

§ 9003. Certificates; requirements, signing, filing, effectiveness. 1.\nEvery certificate or other instrument relating to a corporation or a\nforeign corporation which is delivered to the superintendent for filing\nunder this chapter shall be in the English language, except that…

§ 9004. Certificates; corrections. Any certificate or other instrument\nrelating to a corporation filed by the superintendent under this chapter\nmay be corrected with respect to any informality or error apparent on\nthe face or defect in the execution thereof, including the del…

§ 9005. Nonexclusivity of statutory provisions for indemnification of\ndirectors and officers. The indemnification and advancement of expenses\ngranted pursuant to, or provided by, this article shall not be deemed\nexclusive of any other rights to which a director or officer see…

§ 9006. Authorization for indemnification of directors and officers.\n1. A corporation may indemnify any person, made, or threatened to be\nmade, a party to an action or proceeding (other than one by or in the\nright of the corporation to procure a judgment in its favor), whethe…

§ 9007. Payment of indemnification other than by court award. 1. A\nperson who has been successful, on the merits or otherwise, in the\ndefense of a civil or criminal action or proceeding of the character\ndescribed in section nine thousand six shall be entitled to\nindemnificat…

§ 9008. Indemnification of directors and officers by a court. 1.\nNotwithstanding the failure of a corporation to provide indemnification,\nand despite any contrary resolution of the board or of the shareholders\nin the specific case under section nine thousand seven, indemnific…

§ 9009. Other provisions affecting indemnification of directors and\nofficers. 1. All expenses incurred in defending a civil or criminal\naction or proceeding which are advanced by the corporation under\nsubdivision three of section nine thousand seven or allowed by a court\nund…

§ 9010-a. Insurance for indemnification of directors and officers. 1.\nSubject to the provisions of subdivision two of this section, a\ncorporation shall have power to purchase and maintain insurance:\n (a) To indemnify the corporation for any obligation which it incurs as\na re…

§ 9011. Certificates as evidence. 1. Any certificate or other\ninstrument filed by the superintendent relating to a corporation or\nforeign corporation and containing statements of fact, required or\npermitted by law to be contained therein, shall be received in all\ncourts, pub…

§ 9012. Corporate seal as evidence. The presence of the corporate seal\non a written instrument purporting to be executed by authority of a\ncorporation or a foreign corporation shall be prima facie evidence that\nthe instrument was so executed.\n

§ 9013. When notice or lapse of time unnecessary; notices dispensed\nwith when delivery is prohibited. 1. Whenever, under articles six, ten,\nten-B and eleven, the organization certificate and by-laws of any\ncorporation or by the terms of any agreement or instrument, a\ncorpora…

§ 9014. Corporate name; general. Except as otherwise provided in this\nchapter, the name of a corporation or a foreign corporation shall not be\nthe same as the name of a corporation of any type or kind, as such name\nappears on the index of names of existing corporations of any…

§ 9015. Corporate name; exceptions. 1. Any reference to a corporation\nin this section shall include both corporations and foreign\ncorporations.\n 2. The provisions of section nine thousand fourteen:\n (a) Shall not require any corporation existing or recognized under\nthis cha…

§ 9016. Change of name. By resolution adopted by a vote of two-thirds\nof all its directors, at a meeting held for the purpose, a corporation\nmay change its corporate name, but such change shall not be effective\nunless it shall have been approved by the superintendent. If the\…

§ 9017. Place and time of meetings of the board; presence at. 1.\nMeetings of the board, regular or special, may be held at any place\nwithin or without this state, unless otherwise provided in the\norganization certificate or the by-laws.\n 2. Subject to articles six, ten, ten-…

§ 9018. Effect of invalidity of part of article; severability. If any\nprovision of this article or application thereof to any person or\ncircumstances is held invalid, such invalidity shall not affect other\nprovisions or applications of this article which can be given effect\n…

§ 9019. Certain provisions relating to the conversion of non-stock\nsavings banks and savings and loan associations to stock form. No mutual\nsavings bank and no mutual savings and loan association shall convert to\nstock form unless all depositors (in the case of such savings b…

§ 94. Change from bank to trust company; from trust company to bank.\n A bank complying with the minimum capital stock requirements specified\nin subdivision nine of section four thousand one of this chapter may\nbecome a trust company by filing a certificate pursuant to subdivis…

§ 96. General powers. Every bank and every trust company shall,\nsubject to the restrictions and limitations contained in this chapter,\nhave the following powers:\n 1. To discount, purchase and negotiate promissory notes, drafts, bills\nof exchange, other evidences of debt, and…

§ 96-a. Servicing of mortgages by banks. 1. Every bank shall, subject\nto the restrictions and limitations contained in this article, have the\npower to service mortgages, and the superintendent shall have the power\nto prescribe, by specific or general regulation, the extent to…

§ 96-b. Payroll payment by banks or trust companies. l. Every bank\nand trust company shall have the power to enter into contracts with any\nmunicipal corporation, school district, district corporation, town or\ncounty improvement district, public authority, or public corporatio…

§ 96-c. Power to act as trustee under self-employed retirement trust\nor individual retirement trust. Every bank without fiduciary powers may,\nsubject to any regulations and restrictions prescribed by the\nsuperintendent of financial services, act as trustee under a retirement\…

§ 96-d. Banking development districts. 1. There is hereby created a\nbanking development district program, the purpose of which is to\nencourage the establishment of bank branches in geographic locations\nwhere there is a demonstrated need for banking services. The\nsuperintende…

§ 97. Power to purchase securities and stocks. Subject to the\nrestrictions and limitations contained in this chapter, a bank or trust\ncompany may invest in and have and exercise all rights of ownership with\nrespect to:\n 1. Bonds, notes, debentures and other obligations for p…

§ 98. Power to take and hold real estate; restrictions. 1. A bank or\ntrust company may purchase, hold, lease and convey real property as\nfollows:\n (a) A plot whereon there is or may be erected a building suitable for\nthe convenient transaction of its business, from portions …

§ 98-a. Club accounts. 1. No contract under which a bank or trust\ncompany agrees to repay deposits of fixed sums made at regular intervals\nat a given time with all interest or dividends credited thereon, or to\nrepay said deposits when, together with interest or dividends cred…