New York Banking Law Article 2 - DEPARTMENT OF FINANCIAL SERVICES; SUPERINTENDENT OF FINANCIAL SERVICES; SUPERVISORY AND REGULATORY POWERS
- 10 - Declaration of Policy.
It is hereby declared to be the policy of the state of New York that the business of all banking organizations shall be supervised and...
- 11 - Department of Financial Services; Official Documents; Destruction of Documents; Official Communications.
11. Department of financial services; official documents; destruction of documents; official communications. 1. The department shall be charged with the execution of the laws relating...
- 12-a - Power of State Chartered Banking Institutions to Exercise the Rights of Counterpart Federally Chartered Banking Institutions.
* 1. Definitions. (a) As used in this section, "state chartered banking institution" shall mean any bank, trust company, private banker, savings bank, savings and...
- 14 - Additional Powers of the Superintendent.
1. For the purpose of effectuating the policy declared in section ten of this article, without limiting any other powers that the superintendent is permitted...
- 14-a - Rate of Interest; Superintendent of Financial Services to Adopt Regulations.
1. The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum. 2. The...
- 14-b - Power of the Superintendent of Financial Services to Prescribe Minimum Rate of Interest on Mortgage Escrow Accounts.
1. The superintendent shall have the power to prescribe, from time to time but not more often than once in every three month period, by...
- 14-c - Power of the Superintendent of Financial Services to Prescribe Criteria for Disclosure of Information on Savings and Time Accounts.
1. The superintendent of financial services shall promulgate rules and regulations with respect to the disclosure of information on savings and time accounts by all...
- 14-d - Power of the Superintendent of Financial Services to Prescribe a Reasonable Period of Time Permitting the Drawing on Items Received for Deposit in a Customer's Account.
1. It is the public policy of this state to provide all banking customers with the ability to draw against items deposited for collection with...
- 14-e - Power of the Superintendent to Authorize the Operation of Savings Banks and Savings and Loan Associations in Stock Form.
14-e. Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form. 1. Notwithstanding any other provision...
- 14-f - Power of the Superintendent of Financial Services to Require the Provision of Basic Banking Services.
1. The legislature finds and declares that certain consumers residing in this state may be unable to afford, without undue financial hardship, the cost of...
- 18 - Fees for Copies and Certifications.
Notwithstanding any provision of this chapter to the contrary, for every copy of any paper filed in the department and for the certification thereof, the...
- 18-a - Application Fees.
1. The provisions of this section shall only be applicable to applications for which a fee is authorized to be imposed by any other provision...
- 19 - Assessments for Deficiency in Reserves Against Deposits.
If any banking organization or branch of a foreign banking corporation shall not maintain the total reserves prescribed by or pursuant to this chapter, the...
- 20 - Assessments, Penalties and Forfeitures Entitled to Priority.
In case of the insolvency or voluntary or involuntary liquidation of any person or entity licensed, registered, or incorporated or otherwise formed pursuant to this...
- 21 - Collection of Assessments, Penalties and Forfeitures; Proceedings by Attorney General.
1. When the superintendent, pursuant to the powers conferred on him or her by this article, shall have duly levied any assessment and shall have...
- 22 - Fingerprints.
(a) Notwithstanding any other provision of law, every applicant for a license, authorization or registration under articles nine, nine-A, eleven-B, twelve-B, twelve-C, twelve-D, twelve-E and...
- 23 - Acceptance or Rejection of Certificate; Investigation Fees.
Within twenty days after the receipt by the superintendent of any organization certificate of a corporation proposed to be organized under this chapter, or any...
- 24 - Investigation by Superintendent; Refusal or Approval; Filing Certificate.
1. Within ninety days after the date when any organization certificate or private banker's certificate shall have been filed for examination, the superintendent, if the...
- 25 - Authorization Certificate; When and to Whom Issued; Contents; Filing and Recording.
1. If the superintendent shall find that a corporation or private banker, the certificate of which has been approved and filed as provided in section...
- 25-a - Authority of Superintendent to File Organization Certificate and Issue Authorization Certificate Under Certain Conditions.
* 1. Notwithstanding any other provision of law to the contrary, the superintendent is authorized to file and approve the organization certificate of a bank...
- 26 - Licenses to Foreign Banking Corporations; Renewal.
Upon receipt of an application in proper form of any foreign banking corporation for leave to do business in this state under the provisions of...
- 27 - Exchange and Examination of Securities.
1. Any corporation, unincorporated association, partnership or individual which shall have deposited with the superintendent in trust any stocks or bonds in pursuance of any...
- 28 - Change of Location; Change of Designation of Principal Office; Approval or Refusal; Certificate.
Upon receipt by the superintendent of a written application in proper form from any banking organization or foreign corporation for leave to change its place...
- 28-a - Temporary Change of Location; Approval or Refusal; Certificate.
Notwithstanding any provisions of law limiting the number of offices which may be maintained thereby, any banking organization or foreign banking corporation may make a...
- 28-b - Credit Needs of Local Communities.
1. Each banking institution as defined in subdivision four of this section to which the Community Reinvestment Act of 1977, United States P.L. 95-128, applies...
- 28-c - Branch Office Closings; Report to and Action by the Superintendent.
1. This section is intended to provide the superintendent with detailed information concerning the planned closing of branch offices by state-chartered banking organizations, the availability...
- 29 - Branch Offices; Public Accommodation Offices; Approval or Refusal; Certificate; Investigation Fee.
When a banking organization seeks to open a branch office or public accommodation office, it shall submit a written application to the superintendent. The application...
- 30 - Unclaimed Amounts; Deposit by Superintendent in Trust; Preference; Release of Debtor.
1. After the completion of the voluntary or involuntary liquidation of the business and property of any banking organization or of the business and property...
- 31 - Index of Persons Entitled to Unclaimed Amounts; Payment to Persons Entitled; Deduction of Service Charge.
An index shall be kept in the office of the department of the names of all persons for whom the superintendent holds in trust any...
- 32 - Insurance of Deposits and Share Accounts.
1. Within one year from the date this section shall have become law, every bank, trust company, savings bank, savings and loan association and credit...
- 33 - Reserve Depositaries.
The superintendent shall, in his discretion, upon the nomination of any bank, trust company, industrial bank, foreign banking corporation authorized to maintain a branch or...
- 34 - Superintendent As Attorney to Accept Service of Process.
Whenever pursuant to any provision of this chapter, the superintendent shall have been duly appointed attorney to receive service of process for any individual, partnership,...
- 36 - Examinations; Right of Inspection; Penalties for Refusing to Permit Examination.
1. The superintendent shall have the power to examine every banking organization, every bank holding company and any non-banking subsidiary thereof (as such terms "bank...
- 36-a - Reports of Lending by Banking Organizations.
The superintendent may require every banking organization to submit from time to time data on its mortgage loans, home improvement loans, or other loans and...
- 36-b - Preservation of Books and Records.
When any provision of this chapter or any rule or regulation adopted pursuant thereto requires that books and records be preserved, such requirement may be...
- 37 - Reports to Superintendent.
1. The superintendent shall at least two times in each year designate a past day as of which every bank, trust company, private banker and,...
- 37-a - Submission of Annual Reports by the Holocaust Claims Processing Office.
The superintendent shall report annually to the governor, the temporary president of the senate, the speaker of the assembly, the chairs of the senate standing...
- 38 - Power of Subpoena.
1. The superintendent shall have power at all times, either personally or by his deputies, including special deputy superintendents, or examiners, to subpoena witnesses, to...
- 39 - Orders of Superintendent.
1. To appear and explain an apparent violation. Whenever it shall appear to the superintendent that any banking organization, bank holding company, registered mortgage broker,...
- 40 - Revocation of Authorization Certificate or License or Suspension of Activities in Certain Cases.
1. If the superintendent shall find that (i) any of the reasons for taking possession of the business and property of a banking organization or...
- 41 - Removal of Director, Trustee or Officer.
1. Whenever the superintendent shall find that any director, trustee or officer of any corporate banking organization or bank holding company (as such term "bank...
- 42 - Official Acts of Superintendent and Details of Department Business to Be Made Public.
The superintendent shall publish and make available to the general public at the offices of the department and also post on the department's internet website...
- 44 - Violations; Penalties.
1. (a) Without limiting any power granted to the superintendent under any other provision of this chapter, the superintendent may, in a proceeding after notice...
- 44-a - Violations and Penalties; Failure to Make Reports.
1. Notwithstanding any other provision of this chapter to the contrary: a. any person or entity licensed, registered, or incorporated or otherwise formed pursuant to...
- 45 - Export Finance Awareness Program.
There shall be created within the department an export finance awareness program. Such program shall provide in a manner prescribed by the superintendent, but not...
Last modified: February 3, 2019