Court Opinions

State Laws

US Code

US Constitution

New York Banking - Article 8-A - § 336 Special Remedies Where Property Is Deposited

Legal Research Home > New York Laws > New York Banking (BNK) > New York Banking - Article 8-A - § 336 Special Remedies Where Property Is Deposited

Banking 
 
    § 336.  Special remedies where property is deposited. 1. Every banking
  organization,  foreign   banking   corporation   or   national   banking
  association  authorized  to  receive  personal property upon deposit for
  safe-keeping or as bailee for storage, and which shall have received any
  such property and shall have issued a receipt therefor, shall  have  the
  remedies  of  a  warehouseman  as  to  such  property,  and  the banking
  organization,  foreign   banking   corporation   or   national   banking
  association  shall  have a lien on such deposits or the proceeds thereof
  to the same extent and with the same effect, and enforceable in the same
  manner, as is provided by article seven of the uniform commercial code.
    2. A banking organization, foreign  banking  corporation  or  national
  banking  association  holding personal property upon deposit for which a
  receipt was issued by a predecessor in interest may  have  the  remedies
  provided by this section.
    3.  The provisions of this section shall not preclude any other remedy
  by action or otherwise for the enforcement of the claim of  the  banking
  organization,   foreign   banking   corporation   or   national  banking
  association against the person from  whom  personal  property  has  been
  received  upon  deposit  and  to  whom  a receipt shall have been issued
  therefor, nor bar the right of the banking organization, foreign banking
  corporation or national banking association to recover the debt  due  it
  in any other lawful manner.

Last modified: March 4, 2013