Title BNK, Banking

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

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

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

* § 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 institution, which for purposes of this section means a bank, trust company, savings bank, savings and loan association, licensed foreign banks and credit unions, with respect to written records no longer required o…

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

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

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

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

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

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

§ 9-s. Preauthorized electronic fund transfers. 1. Every banking institution which provides preauthorized electronic fund transfers from consumer accounts shall, in accordance with regulations adopted by the superintendent of financial services, provide consumers with the right …

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

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

§ 9-v. Savings promotion prize giveaway. A banking organization organized under or subject to the provisions of this chapter, federal credit union, federal savings bank, federal savings and loan association, or national bank association may conduct a savings promotion in accorda…

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

* § 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 other provision of law or rule or regulation to the contrary, any financial institution subject to the provisions of this chapter, including any bank, trust company, savings bank, savings and loan association, …

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

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

§ 9001. Definitions. In this article, unless the context otherwise requires: 1. "Corporation" means and includes all mutual savings banks, mutual savings and loan associations, mutual holding companies and credit unions. 2. "Director" means any member of the governing board of a…

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

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

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

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

§ 9005. Nonexclusivity of statutory provisions for indemnification of directors and officers. The indemnification and advancement of expenses granted pursuant to, or provided by, this article shall not be deemed exclusive of any other rights to which a director or officer seekin…

§ 9006. Authorization for indemnification of directors and officers. 1. A corporation may indemnify any person, made, or threatened to be made, a party to an action or proceeding (other than one by or in the right of the corporation to procure a judgment in its favor), whether c…

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

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

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

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

§ 9011. Certificates as evidence. 1. Any certificate or other instrument filed by the superintendent relating to a corporation or foreign corporation and containing statements of fact, required or permitted by law to be contained therein, shall be received in all courts, public …

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

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

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

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

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

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

§ 9018. Effect of invalidity of part of article; severability. If any provision of this article or application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this article which can be given effect with…

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

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

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

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

§ 96-b. Payroll payment by banks or trust companies. l. Every bank and trust company shall have the power to enter into contracts with any municipal corporation, school district, district corporation, town or county improvement district, public authority, or public corporation t…

§ 96-c. Power to act as trustee under self-employed retirement trust or individual retirement trust. Every bank without fiduciary powers may, subject to any regulations and restrictions prescribed by the superintendent of financial services, act as trustee under a retirement pla…

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

§ 97. Power to purchase securities and stocks. Subject to the restrictions and limitations contained in this chapter, a bank or trust company may invest in and have and exercise all rights of ownership with respect to: 1. Bonds, notes, debentures and other obligations for paymen…

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

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