New York Banking Law Article 6-B - FUND FOR INSURING DEPOSITS IN SAVINGS BANKS AND/OR OTHERWISE PROTECTING DEPOSITORS

• 282 - Creation of Fund.
  Any seventy-five or more savings banks organized under the laws of the state of New York whose deposits aggregate not less than fifty per cent...
• 283 - Management of Fund.
  The fund shall be collected, held, administered and disbursed by a corporate trustee or a board of trustees composed of individuals who are trustees of...
• 284 - Agreement; Filing and Provisions Thereof.
  The agreement when approved by the superintendent of financial services shall be executed by the savings banks parties thereto and filed in his office. The...
• 285 - Powers Which May Be Granted to Trustee.
  In addition to such other powers as may be set forth in the agreement not inconsistent herewith or with the purposes of the fund, the...
• 286 - Taxation and Exemption of Property Held in Fund; Exemption of Mortgages From Mortgage Recording Tax.
  The fund and the income thereof shall be exempt from all taxation now or hereafter imposed by the state of New York or by any...
• 287 - Member Savings Banks.
  Any savings bank incorporated in the state of New York may become a member of the fund upon the terms and conditions set forth in...
• 288 - Contributions As Assets.
  All contributions and payments pursuant to call paid into the fund by any member savings bank may be carried by it as an asset to...
• 289 - Confirmation of Powers.
  Any savings bank shall have the authority to do and permit to be done any of the acts and things and make any of the...
• 289-a - Immunity of Trustee and Member Savings Banks.
  The trustee shall in no event be individually liable for anything done or any liability incurred or assumed by virtue hereof, and any such liability...
• 289-b - Construction.
  The provisions of this article shall be liberally construed with a view to the protection of the depositors of savings banks.

Last modified: February 3, 2019