reglab/housing_qa huggingface dataset:
NY Banking L § 713 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 713 - Application Process to Receive License to Engage in the Business of Student Loan Servicing.

§  713.  Application  process  to  receive  license  to  engage in the business of student loan servicing. 1. Upon the filing of an application for a license, if the  superintendent  shall  find  that  the  financial responsibility,  experience,  character,  and  general  fitness  of  the applicant and, if applicable, the members, officers, partners, directors and principals of the applicant are such as to command the confidence of the community and to warrant belief that the business will  be  operated honestly,  fairly,  and  efficiently within the purpose of this article, the superintendent shall thereupon  issue  a  license  in  duplicate  to engage  in  the business of servicing student loans described in section seven hundred ten of this article in accordance with the  provisions  of this   article.   If   the   superintendent   shall  not  so  find,  the superintendent shall not issue a license, and the  superintendent  shall so notify the applicant. The superintendent shall transmit one copy of a license  to  the  applicant  and  file  another  in  the  office  of the department of financial  services.  Upon  receipt  of  such  license,  a student  loan  servicer shall be authorized to engage in the business of servicing student loans  in  accordance  with  the  provisions  of  this article.  Such license shall remain in full force and effect until it is surrendered by the servicer  or  revoked  or  suspended  as  hereinafter provided.   2.  The  superintendent may refuse to issue a license pursuant to this article if he or she shall find that the applicant, or any person who is a director, officer, partner, agent, employee,  member,  or  substantial stockholder of the applicant:  (a)  within  the  last ten years prior to the date of application, has committed any act involving  dishonesty,  fraud,  deceit,  or  has  been convicted of, or pleaded nolo contendere to, a crime directly related to the  qualifications,  functions,  or duties related to servicing student loans, provided that any criminal  conviction  be  evaluated  consistent with article twenty-three-A of the correction law;  (b) has had a license or registration revoked by the superintendent or any other regulator or jurisdiction;  (c)  has  been  an  officer,  director, partner, member or substantial stockholder of an entity which has had a license or registration revoked by the superintendent or any other regulator or jurisdiction; or  (d) has been an agent, employee, officer, director, partner or  member of  an  entity  which  has  had a license or registration revoked by the superintendent  where  such  person  shall  have  been  found   by   the superintendent to bear responsibility in connection with the revocation.   3.  The term "substantial stockholder", as used in this section, shall be deemed to refer  to  a  person  owning  or  controlling  directly  or indirectly  ten  per  centum or more of the total outstanding stock of a corporation.
NY Banking L § 714 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 714 - Changes in Officers and Directors.

§  714.  Changes  in officers and directors. Upon any change of any of   the executive officers, directors, partners or members  of  any  student   loan servicer required to be licensed under section seven hundred eleven   of  this  article,  the  student  loan  servicer  shall  submit  to  the   superintendent the name, address, and occupation of  each  new  officer,   director,  partner  or member, and provide such other information as the   superintendent may require.
NY Banking L § 717 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 717 - Books and Records; Reports and Electronic Filing.

§  717.  Books  and  records;  reports  and electronic filing. 1. Each student loan servicer shall keep and use in  its  business  such  books, accounts  and  records  as  will  enable the superintendent to determine whether such servicer or  exempt  organization  is  complying  with  the provisions  of  this article and with the rules and regulations lawfully made by the superintendent. Every servicer shall  preserve  such  books, accounts, and records, for at least three years.   2.  (a) Each student loan servicer, other than an exempt organization, shall  annually,  on  or  before  a  date  to  be  determined   by   the superintendent,  file  a  report  with  the  superintendent  giving such information as the superintendent may require  concerning  the  business and operations during the preceding calendar year of such servicer under authority  of this article. Such report shall be subscribed and affirmed as true by the servicer under the penalties of perjury and shall  be  in the form prescribed by the superintendent.  (b) In addition to annual reports, the superintendent may require such additional regular or special reports as he or she may deem necessary to the  proper  supervision  of  student loan servicers under this article. Such additional reports shall be subscribed and affirmed as true by  the servicer  under  the  penalties  of  perjury  and  shall  be in the form prescribed by the superintendent.   3. Notwithstanding article three of the state technology  law  or  any other  law  to  the  contrary,  the  superintendent may require that any submission or approval as may be required by the superintendent be  made or  executed  by  electronic  means  if  he or she deems it necessary to ensure the efficient administration of this article.
NY Banking L § 718 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 718 - Rules and Regulations.

§  718.  Rules  and  Regulations. 1. In addition to such powers as may otherwise be prescribed by law, the superintendent is hereby  authorized and  empowered  to  promulgate  such rules and regulations as may in the judgement of the superintendent be consistent with the purposes of  this article,  or  appropriate  for  the  effective  administration  of  this article, including, but not limited to:  (a) Such rules and regulations in connection with  the  activities  of student  loan  servicers  as  may  be  necessary and appropriate for the protection of borrowers in this state.  (b) Such rules and regulations as may be necessary and appropriate  to define unfair, deceptive or abusive acts or practices in connection with the activities of student loan servicers.  (c)  Such  rules  and regulations as may define the terms used in this article and as  may  be  necessary  and  appropriate  to  interpret  and implement the provisions of this article.  (d) Such rules and regulations as may be necessary for the enforcement of this article.   2.  The superintendent is hereby authorized and empowered to make such specific rulings, demands and findings as the  superintendent  may  deem necessary for the proper conduct of the student loan servicing industry.
NY Banking L § 719 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 719 - Prohibited Practices.

§ 719. Prohibited practices. No student loan servicer shall:1.  Employ  any  scheme,  device  or  artifice to defraud or mislead a   borrower;2. Engage in any unfair, deceptive or predatory act or practice toward   any  person  or  misrepresent  or  omit  any  material  information   in   connection  with  the  servicing  of  a student loan, including, but not   limited to, misrepresenting the amount, nature or terms of  any  fee  or   payment  due  or  claimed  to  be  due  on a student loan, the terms and   conditions of the loan agreement or the borrower's obligations under the   loan;3. Misapply payments to the outstanding balance of any student loan or   to any related interest or fees;4. Provide inaccurate information to a consumer reporting agency;5. Refuse to communicate with  an  authorized  representative  of  the   borrower  who  provides  a written authorization signed by the borrower,   provided that the servicer may adopt procedures  reasonably  related  to   verifying that the representative is in fact authorized to act on behalf   of the borrower;6. Make any false statement or make any omission of a material fact in   connection  with  any  information  or reports filed with a governmental   agency  or  in  connection  with  any  investigation  conducted  by  the   superintendent or another governmental agency;7. Fail to respond within fifteen calendar days to communications from   the   department,  or  within  such  shorter,  reasonable  time  as  the   department may request in his or her communication; or8. Fail to provide a  response  within  fifteen  calendar  days  to  a   consumer  complaint  submitted  to  the  servicer  by the department. If   necessary, a student loan servicer may request additional time up  to  a   maximum  of  forty-five  calendar  days,  provided  that such request is   accompanied by an explanation why such additional time is reasonable and   necessary.
NY Banking L § 720 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 720 - Servicing Student Loans Without a License.

§  720. Servicing student loans without a license. 1. Whenever, in the   opinion of the superintendent, a person is engaged in  the  business  of   servicing  student loans, either actually or through subterfuge, without   a license from the superintendent, the  superintendent  may  order  that   person  to desist and refrain from engaging in the business of servicing   student loans in the state. If, within thirty days  after  an  order  is   served,  a  request for a hearing is filed in writing and the hearing is   not held within sixty days of the filing, the order shall be rescinded.2. This section does not apply to exempt organizations.
NY Banking L § 723 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 723 - Penalties for Violation of This Article.

§ 723. Penalties for violation of this article. 1. In addition to such   penalties  as  may  otherwise  be  applicable  by law, including but not   limited to the penalties available  under  section  forty-four  of  this   chapter,  the  superintendent may, after notice and hearing, require any   person found violating the provisions of this article or  the  rules  or   regulations  promulgated  hereunder to pay to the people of this state a   penalty for each violation of the article or any  regulation  or  policy   promulgated  hereunder  a  sum  not  to  exceed  the  greater of (i) two   thousand dollars or where such violation is willful ten thousand dollars   for each offense; (ii) a multiple of two  times  the  aggregate  damages   attributable  to  the  violation;  or  (iii) a multiple of two times the   aggregate economic gain attributable to the violation.2. Nothing in this article shall limit  any  statutory  or  common-law   right of any person to bring any action in any court for any act, or the   right of the state to punish any person for any violation of any law.
NY Banking L § 724 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 724 - Severability of Provisions.

§  724.  Severability of provisions. If any provision of this article,   or the application of such provision  to  any  person  or  circumstance,   shall  be  held  invalid, illegal or unenforceable, the remainder of the   article,  and  the  application  of  such  provision   to   persons   or   circumstances  other  than those as to which it is held invalid, illegal   or unenforceable, shall not be affected thereby.
NY Banking L § 725 (2021)
2021 New York Laws BNK - Banking Article 14-A - Student Loan Servicers 725 - Compliance With Other Laws.

§  725.  Compliance  with  other laws. 1. Student loan servicers shall   engage in the business of servicing student loans in conformity with the   provisions of the financial services law, this chapter, such  rules  and   regulations  as  may be promulgated by the superintendent thereunder and   all applicable federal laws and the rules  and  regulations  promulgated   thereunder.2.  Nothing  in this section shall be construed to limit any otherwise   applicable state or federal law or regulations.
NY Banking L § 9001 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9001 - Definitions.

§ 9001.  Definitions.  In  this  article, unless the context otherwise   requires:1. "Corporation" means and includes all mutual savings  banks,  mutual   savings  and  loan  associations,  mutual  holding  companies and credit   unions.2.  "Director"  means  any  member  of  the  governing  board   of   a   corporation,  whether designated as director, trustee, manager, governor   or by any other title; the term "board" means "board of directors. "3. "Organization certificate" includes (a) the  original  organization   certificate or any other instrument filed or issued under any statute to   form  a  corporation or foreign corporation, as amended, supplemented or   restated by certificates of amendment, merger or consolidation or  other   certificates  or instruments filed or issued under any statute; or (b) a   special act or charter creating a corporation or foreign corporation, as   amended, supplemented or restated by special acts or by certificates  of   amendment,  merger or consolidation or other certificates or instruments   filed or issued under any statute.4. "Foreign  corporation"  means  a  non-stock  corporation  which  is   licensed  by  the  superintendent under the provisions of article two of   this chapter to do business in  this  state  or  is  applying  for  such   license  and  a  non-stock corporation authorized to conduct business in   this state pursuant to article five-C of this chapter or is applying for   such authorization.
NY Banking L § 9002 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9002 - Application.

§ 9002.  Application.  1. To the extent not inconsistent with articles   six, ten, ten-B and eleven, this article applies  to  every  corporation   and, to the extent herein provided, to every foreign corporation.2.  The business corporation law shall not apply to any corporation or   foreign corporation as defined in section  nine  thousand  one  of  this   article.
NY Banking L § 9004 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9004 - Certificates; Corrections.

§ 9004. Certificates; corrections. Any certificate or other instrument   relating to a corporation filed by the superintendent under this chapter   may  be  corrected  with respect to any informality or error apparent on   the face or defect in the execution thereof, including the  deletion  of   any material not permitted to be stated therein. A certificate, entitled   " Certificate of correction of ........... (correct title of certificate   and  name of corporation) " shall be signed, verified or acknowledged as   provided in this chapter with respect to the instrument being  corrected   and  delivered to the superintendent. It shall set forth the name of the   corporation or foreign  corporation,  the  date  the  instrument  to  be   corrected  was  filed  by  the  superintendent,  the  provision  in  the   instrument  as  corrected  or  eliminated  and  if  the  execution   was   defective,  the  proper  execution. The filing of the certificate by the   superintendent shall not alter the  effective  time  of  the  instrument   being  corrected, which shall remain as its original effective date, and   shall not affect any right or liability accrued or incurred before  such   filing.  The  name  of the corporation or foreign corporation may not be   changed or corrected under this section.
NY Banking L § 9005 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9005 - Nonexclusivity of Statutory Provisions for Indemnification of Directors and Officers.

§ 9005.  Nonexclusivity of statutory provisions for indemnification of   directors and officers.  The indemnification and advancement of expenses   granted  pursuant  to,  or provided by, this article shall not be deemed   exclusive of any other rights to which a  director  or  officer  seeking   indemnification  or  advancement  of  expenses  may be entitled, whether   contained in the  organization  certificate  or  the  by-laws  or,  when   authorized  by  such  certificate  of  incorporation  or  by-laws, (i) a   resolution of shareholders, (ii) a resolution of directors, or (iii)  an   agreement   providing   for   such  indemnification,  provided  that  no   indemnification may be made to or on behalf of any director  or  officer   if  a  judgment  or  other final adjudication adverse to the director or   officer establishes that his acts were committed in bad  faith  or  were   the  result of active and deliberate dishonesty and were material to the   cause of action so adjudicated, or that he personally gained in  fact  a   financial  profit  or  other  advantage  to  which  he  was  not legally   entitled.  Nothing contained in this article shall affect any rights  to   indemnification  to  which  corporate personnel other than directors and   officers may be entitled by contract or otherwise under law.
NY Banking L § 9007 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9007 - Payment of Indemnification Other Than by Court Award.

§ 9007.  Payment  of  indemnification other than by court award. 1.  A person who has been successful, on  the  merits  or  otherwise,  in  the defense  of  a  civil  or criminal action or proceeding of the character described  in  section  nine  thousand  six   shall   be   entitled   to indemnification as authorized in such section.   2.  Except  as  provided in subdivision one, any indemnification under section nine  thousand  six  or  otherwise  permitted  by  section  nine thousand  five,  unless  ordered  by a court under section nine thousand eight, shall be made by the  corporation,  only  if  authorized  in  the specific case:  (a)  By  the  board acting by a quorum consisting of directors who are not parties to such  action  or  proceeding  upon  a  finding  that  the director or officer has met the standard of conduct set forth in section nine thousand six or established pursuant to section nine thousand five, as the case may be, or,  (b)  If  a  quorum  under  paragraph (a) is not obtainable or, even if obtainable, a quorum of disinterested directors so directs:  (1) By the board upon the opinion  in  writing  of  independent  legal counsel  that indemnification is proper in the circumstances because the applicable standard of conduct set forth in such sections has  been  met by such director or officer, or  (2)  By  the  shareholders upon a finding that the director or officer has met the applicable standard of conduct set forth in such sections.   3. Expenses incurred in  defending  a  civil  or  criminal  action  or proceeding  may  be  paid  by  the  corporation  in advance of the final disposition of such action or proceeding upon receipt of an  undertaking by or on behalf of such director or officer to repay such amount as, and to  the  extent,  required  by  subdivision one of section nine thousand nine.
NY Banking L § 9008 (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9008 - Indemnification of Directors and Officers by a Court.

§ 9008.  Indemnification  of  directors  and  officers  by a court. 1. Notwithstanding the failure of a corporation to provide indemnification, and despite any contrary resolution of the board or of the  shareholders in  the specific case under section nine thousand seven, indemnification shall be awarded by a court to the extent authorized under section  nine thousand  six  and  subdivision  one  of  section  nine  thousand seven. Application therefor may be made, in every case, either:  (a) In the civil action or  proceeding  in  which  the  expenses  were incurred or other amounts were paid, or  (b)  To  the supreme court in a separate proceeding, in which case the application shall set forth the disposition of any previous  application made  to  any  court  for the same or similar relief and also reasonable cause for the failure to make application for such relief in the  action or  proceeding in which the expenses were incurred or other amounts were paid.   2. The application shall be made in such manner and  form  as  may  be required by the applicable rules of court, or in the absence thereof, by direction of a court to which it is made. Such application shall be upon notice  to  the  corporation.  The  court may also direct that notice be given at the expense of the corporation to  the  shareholders  and  such other persons as it may designate in such manner as it may require.   3.  Where  indemnification is sought by judicial action, the court may allow a person such  reasonable  expenses,  including  attorneys'  fees, during  the  pendency  of  the litigation as are necessary in connection with his defense therein, if the court shall find that the defendant has by his pleadings or during the course of the litigation  raised  genuine issues of fact or law.
NY Banking L § 9010-A (2021)
2021 New York Laws BNK - Banking Article 16 - General Provisions Applicable to Banking Non-Stock Corporations 9010-A - Insurance for Indemnification of Directors and Officers.

§ 9010-a.  Insurance for indemnification of directors and officers. 1. Subject to  the  provisions  of  subdivision  two  of  this  section,  a corporation shall have power to purchase and maintain insurance:  (a) To indemnify the corporation for any obligation which it incurs as a  result  of  the  indemnification  of directors and officers under the provisions of this article, and  (b) To indemnify directors and officers in instances in which they may be indemnified by the corporation under the provisions of this  article, and  (c) To indemnify directors and officers in instances in which they may not  otherwise be indemnified by the corporation under the provisions of this article provided the contract of insurance covering such  directors and  officers  provides, in a manner acceptable to the superintendent of financial services, for a retention amount and for co-insurance.   2. No insurance under subdivision one of this section may provide  for any payment, other than cost of defense, to or on behalf of any director or officer:  (a)  If  a judgment or other final adjudication adverse to the insured director or officer establishes that his acts of active  and  deliberate dishonesty  were material to the cause of action so adjudicated, or that he personally gained in fact a financial profit or  other  advantage  to which he was not legally entitled, or  (b) In relation to any risk the insurance of which is prohibited under the insurance law of this state.   3.  Insurance  under  any or all paragraphs of subdivision one of this section may be included in a  single  contract  or  supplement  thereto. Retrospective rated contracts are prohibited.   4.  The corporation shall, within the time and to the persons provided in subdivision three of section nine thousand nine of this article, mail a statement in respect of any insurance  it  has  purchased  or  renewed under  this  section,  specifying  the  insurance  carrier,  date of the contract, cost of the insurance,  corporate  positions  insured,  and  a statement explaining all sums, not previously reported in a statement to shareholders, paid under any indemnification insurance contract.   5.  This section is the public policy of this state to spread the risk of corporate management, notwithstanding any other  general  or  special law  of  this  state  or of any other jurisdiction including the federal government.