New York Banking Law Article 4 - PRIVATE BANKERS.
- 160 - Verified Certificate.
Any individual or partnership desiring to engage in business as a private banker shall submit to the superintendent a verified certificate in duplicate which shall...
- 161 - Authorization Certificate.
If the superintendent shall issue an authorization certificate as provided in article two of this chapter, such individual or partnership may engage in the business...
- 162 - Permanent Capital; Increase or Decrease.
Every private banker shall keep unimpaired in his banking business the amount of permanent capital specified in his verified certificate. From time to time, with...
- 163 - Restrictions As to Place of Business.
The office of a private banker shall not be located in the same room with, or in a room connecting with, any bank, trust company,...
- 164 - Change of Location.
Any private banker may make a written application to the superintendent to change the location of his office to another place in the same city...
- 165 - Segregation of Investments; Title to Be Taken in Descriptive Name.
1. Every private banker shall segregate and keep separate and apart from all other property and assets of the individual or partnership all securities and...
- 166 - Depositors Preferred in Case of Failure or Suspension.
In case of the failure or suspension of any private banker, the claims of persons for money on deposit or delivered for transmission shall be...
- 167 - Reserves Against Deposits.
Every private banker shall maintain total reserves against his deposits of the same amount and kind and on hand or on deposit to the same...
- 168 - Restrictions on Acceptance of Deposits and Payment of Interest.
No private banker shall: (1) Accept any amount for deposit if after the acceptance of such amount the average amount of the deposits received from...
- 171 - Repayment of Deposits Standing in the Names of Minors, Trustees or Joint Depositors; Repayment Where Adverse Claim is Asserted; Interpleader in Certai
171. Repayment of deposits standing in the names of minors, trustees or joint depositors; repayment where adverse claim is asserted; interpleader in certain actions; effect...
- 172 - Restrictions on Investments.
1. Every private banker may, subject to the limitations and restrictions contained in this article, make such investments of funds held by him as a...
- 173 - Rate of Interest; Effect of Usury.
1. No private banker shall take, receive, reserve or charge on any loan or discount made, or upon any note, bill of exchange or other...
- 174 - Restrictions on Purchases Of, and Loans on Real Estate.
1. No private banker shall purchase with funds held by him as private banker any real estate except a plot upon which there is or...
- 175 - Books and Records.
1. Every private banker shall keep separate and complete books of account in which shall be promptly entered the details of all business transacted by...
- 176 - Reports Required by Superintendent; Penalty for Failure to Make.
Within fifteen days after service upon any private banker of the notice provided for by section thirty-seven of this chapter, he shall make a written...
- 177 - Official Communications From Superintendent.
Every official communication, as defined in article two of this chapter, directed to any private banker, shall, if such private banker is a partnership, be...
- 178 - Business of Deceased Private Banker; Continuation; Liquidation.
In case of the death of an individual engaged in the business of a private banker, his executor, administrator or other legal representative, and in...
- 179 - Effect of Revocation of Authorization Certificate.
Whenever the superintendent shall have revoked the authorization certificate of any private banker, and shall have taken the action to make such revocation effective specified...
- 180 - Prohibitions Against Encroachment Upon Certain Powers of Private Bankers, Savings Banks and Savings and Loan Associations.
Except as authorized by this chapter, no individual, either for himself or as trustee, and no partnership or unincorporated association shall: (1) Engage in the...
- 181 - Exemptions of Certain Private Bankers.
1. Every individual and partnership conducting the business of a private banker on June thirtieth, nineteen hundred thirty-eight, pursuant to an authorization certificate issued by...
Last modified: February 3, 2019