New York Banking Law Article 1 - SHORT TITLE; DEFINITIONS; MISCELLANEOUS PROVISIONS.
- 1 - Short Title.
This chapter, together with amendments thereof, shall be known as the "banking law", and shall be applicable to all corporations, partnerships and individuals defined in...
- 2 - Definitions.
1. Bank. The term, "bank," when used in this chapter, unless a different meaning appears from the context, means any corporation, other than a trust...
- 2-a - Limited Liability Investment Company; Definitions.
When the provisions of this chapter are applied to the formation and operation of a limited liability investment company references to: 1. "Board of directors"...
- 2-b - Limited Liability Trust Companies; Definitions.
When the provisions of this chapter are applied to the formation and operation of a limited liability trust company references to: 1. "Board of directors"...
- 4 - Information to Be Given to Social Services Officials, State Department of Social Services, State Department of Mental Hygiene, the Mental Hygiene Lega
4. Information to be given to social services officials, state department of social services, state department of mental hygiene, the mental hygiene legal service, representatives...
- 4-a - Banks to Display Signs.
Every banking organization having as its purpose or among its purposes the receipt of deposits, shall continuously display a sign, or signs, as prescribed by...
- 4-b - Advertising.
Every such non-insured banking organization shall include in all its advertising within the state with reference to deposit accounts the statement substantially as follows: "DEPOSITS...
- 4-c - Exemptions From Certain Provisions of Chapter.
Any uninsured banking organization whose assets are in excess of two hundred million dollars shall be exempt from compliance with the provisions of sections four-a,...
- 5 - Loans Pursuant to the "Servicemen's Readjustment Act of 1944."
1. Subject to such regulations and restrictions as the superintendent of financial services finds to be necessary and proper, (i) any loan at least twenty...
- 6 - Investment in Obligations of Housing Corporations Indirectly Guaranteed Pursuant to the "Servicemen's Readjustment Act of 1944".
Subject to such regulations and restrictions as the superintendent of financial services finds to be necessary and proper, any bank, trust company or savings bank...
- 6-a - Investment in Obligations of Certain Persons Sixty-Five Years of Age or Over Incurred to Satisfy Real Property Tax Indebtedness.
1. Subject to such regulations and restrictions as the superintendent of financial services finds to be necessary and proper and notwithstanding any inconsistent provision of...
- 6-c - Application Forms to Be Made Available; Certain Cases.
1. Every banking organization which originates loans secured by real property located in this state shall provide at its principal place of business and at...
- 6-d - Requirement to State in Writing Reason for Denial of Mortgage Loan.
Every banking organization and licensed mortgage banker which originates mortgage loans secured by real property located within New York state which denies an application for...
- 6-e - Graduated Payment Mortgages Authorized.
Notwithstanding any inconsistent provision of this chapter or other law and in addition to any other power exercisable by it, every banking organization, licensed mortgage...
- 6-f - Alternative Mortgage Instruments Made by Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Credit Unions.
1. Notwithstanding any inconsistent provision of this chapter or any other law of this state, the superintendent of financial services is authorized to adopt such...
- 6-g - Override of Certain Provisions of United States Public Law 97-320.
1. The provisions of Title VIII of an act of congress entitled "Garn-St Germain Depository Institutions Act of 1982", United States Public Law 97-320, and...
- 6-h - Reverse Mortgage Loans Authorized.
Notwithstanding any inconsistent provision of law, in addition to any other power exercised by it, every authorized lender, as defined by section two hundred eighty...
- 6-i - Mortgage Loans.
No person, partnership, corporation, banking organization, exempt organization as defined in section five hundred ninety of this chapter or other entity shall make a mortgage...
- 6-j - Proof of Insurance.
1. No exempt organization, as defined in section five hundred ninety of this chapter, or licensed mortgage banker which originates mortgage loans shall, at the...
- 6-k - Real Property Insurance Escrow Accounts.
1. Definitions. When used in this section: (a) "Mortgage investing institution" means any bank, trust company, national bank, savings bank, savings and loan association, federal...
- 6-l - High-Cost Home Loans.
1. Definitions. The following definitions apply for the purposes of this section: (a) "Affiliate" means any company that controls, is controlled by, or is under...
- 6-m - Subprime Home Loans.
1. Definitions. The following definitions apply for the purposes of this section: (a) "Annual percentage rate" means the annual percentage rate for the loan calculated...
- 7 - Payment of Dividends or Interest Upon Unclaimed Deposits or Shares; Limitation of Charges in Connection With Savings Accounts.
1. No banking organization or foreign banking corporation transacting business in this state shall discontinue the payment of dividends or interest on any deposit made...
- 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...
- 9 - Checks Drawn Against Corporate Funds or Payable to Corporations; No Notice of Defense Against or Claim to Check.
Notwithstanding section 3-304 of the uniform commercial code, the drawing of a check by an officer or agent of a corporation against the account of,...
- 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...
- 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...
- 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...
- 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...
- 9-f - Geographic Discrimination in Making Mortgage Loans Prohibited.
1. No banking institution as such term is defined in this section shall refuse to make a prudent loan upon the security of real property...
- 9-g - Right of Set Off.
1. No banking institution shall assert, claim or exercise any right of set off against any deposit account into which social security or supplemental security...
- 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...
- 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...
- 9-i*2 - Prohibition on Depositor of Early Withdrawal Penalty in Certain Cases.
* 9-i. Prohibition on depositor of early withdrawal penalty in certain cases. No banking institution, as that term is defined in section nine-f of this...
- 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...
- 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...
- 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...
- 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...
- 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...
- 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...
- 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...
- 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,...
- 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...
- 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...
- 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...
- 9-w - Standard Financial Aide Award Letter.
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...
Last modified: February 3, 2019