reglab/housing_qa huggingface dataset:
NY Banking L § 6-G (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-G - Override of Certain Provisions of United States Public Law 97-320.

§ 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 the preemption of state law provided  in  section 804  thereof,  shall not apply with respect to residential real property and cooperative apartment unit alternative mortgage transactions subject to the laws of this state except as provided in this section.   2. With respect  to  a  real  property  loan  secured  by  a  lien  on residential  real  property  containing  less  than five dwelling units, including a lien on  the  stock  allocated  to  a  dwelling  unit  in  a cooperative housing corporation or on a residential manufactured home, a lender  may  not  exercise its option pursuant to a "due-on-sale" clause upon:  (a) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;  (b) The granting of a leasehold interest of three years  or  less  not containing an option to purchase;  (c) A transfer to a relative resulting from the death of a borrower;  (d)  A transfer where the spouse or children of the borrower become an owner of the property;  (e) A transfer resulting from a decree of a dissolution  of  marriage, legal  separation  agreement,  or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner  of  the property; or  (f)  A transfer into an inter-vivos trust in which the borrower is and remains a beneficiary and that does not relate to a transfer  of  rights of occupancy in the property.
NY Banking L § 6-H (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-H - Reverse Mortgage Loans Authorized.

§ 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   or  two  hundred eighty-a of the real property law, shall have the power   to offer reverse mortgage loans (1) which conform to the  provisions  of   section  two hundred eighty or two hundred eighty-a of the real property   law and the rules and regulations promulgated by the  superintendent  of   financial  services;  or  (2)  which  conform to the requirements of the   federal  housing  administration's  home  equity   conversion   mortgage   insurance  demonstration  program  for as long as such program exists as   provided for in section 1715Z-20 of title 12 of the United States  Code.   "Reverse  mortgage"  shall  mean  the  mortgage,  deed of trust or other   security instrument relating  to  a  particular  reverse  mortgage  loan   transaction.The  proceeds  of a reverse mortgage shall not be considered as income   for the purposes  of  section  four  hundred  sixty-seven  of  the  real   property tax law; provided, however, that monies used to repay a reverse   mortgage may not be deducted from income, and provided additionally that   any  interest  or  dividends  realized  from  the  investment of reverse   mortgage proceeds shall be considered income.
NY Banking L § 6-I (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-I - Mortgage Loans.

§ 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 loan as   defined in section  five  hundred  ninety  of  this  chapter  except  in   conformity  with  the requirements of article twelve-D and in compliance   with  such  rules  and  regulations  as  may  be  promulgated   by   the   superintendent of financial services under this section. Nothing in this   section  shall  be  construed to limit or otherwise modify any otherwise   applicable requirement of state or federal law.
NY Banking L § 6-J (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-J - Proof of Insurance.

§ 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 time of title closing  for   a loan secured by a one to four family residential real property, refuse   to  accept  a  binder,  issued  by  an  insurer,  or  a  duly authorized   representative of an insurer, licensed to do business in this state,  as   evidence  that  hazard  insurance  has  been  procured for the mortgaged   premises. Nothing herein is intended to prohibit the mortgage banker  or   exempt  organization  from  requiring  the  borrower  to  also furnish a   receipt indicating that  the  annual  or  installment  premium  on  such   insurance policy has been paid.2.  As  used  in  this  section, "binder" means a written document (a)   which includes the name and address of the insured  and  any  additional   named  insureds,  mortgagees,  or  lienholders;  a  description  of  the   property insured; a description of the nature  and  amount  of  coverage   which  shall  be  deemed  to  include  the  terms  of  the standard fire   insurance policy except  as  conspicuously  noted  on  the  binder;  the   identity  of  the insurer and of the authorized representative executing   the binder; the effective date of coverage; the  binder  number  or  the   policy  number  where  applicable  to  a policy extension, and (b) which   temporarily obligates the insurer to  provide  that  insurance  coverage   pending  issuance  of  the  insurance policy. The cancellation of such a   binder shall be governed  at  the  minimum  by  the  provisions  of  the   standard  fire  insurance policy and the provisions of the insurance law   applicable thereto.
NY Banking L § 6-N (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-N - Responsibility of Banks for Mortgages Being Processed for Modification.

§  6-n.  Responsibility  of  banks  for  mortgages being processed for   modification. 1. If a mortgage that is the subject of an application for   a modification of the mortgage terms is sold or transferred  during  the   modification  process,  the  bank  or  financial  institution selling or   transferring such mortgage shall provide the  borrower  with  a  written   list of all documents relating to such application for modification that   were  provided  to  the  bank  or  financial  institution  to which such   mortgage was sold or transferred.2. If a borrower has been approved in writing for a  first  lien  loan   modification  or  other  modification  to  avoid  foreclosure,  and  the   servicing of such borrower's loan is  transferred  or  sold  to  another   mortgage  servicer,  the  subsequent  mortgage servicer shall assume all   duties and obligations related to any  previously  approved  first  lien   loan   modification  or  other  foreclosure  prevention  alternative  in   accordance with the provisions of this section.
NY Banking L § 6-O (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 6-O - Single Point of Contact for Modifying Delinquent Home Loans.

* §  6-o. Single point of contact for modifying delinquent home loans. 1.  A lender shall provide to a borrower  who  is  sixty  or  more  days delinquent  on  his or her home loan with such lender and who chooses to pursue a loan modification or other foreclosure prevention  alternative, a single point of contact for the borrower to reach the lender regarding pursuing a loan modification. The borrower shall make his or her request for  such  contact information in writing or by electronic communication to his  or  her  lender  and  such  lender  shall  provide  the  contact information  required  herein within ten business days of receiving such borrower's request. If at any time the contact information  provided  to the borrower changes, a notification of such change shall be provided by the lender to the borrower within five business days of such change. The duties  imposed  on  a lender by this section may also be performed by a mortgage servicer acting on behalf of such lender.   2. The  single  point  of  contact  required  by  this  act  shall  be responsible for the following:  (a)  communicating information regarding options the borrower may have for modifying his or her delinquent home loan;  (b) assisting the borrower with identifying  documents  necessary  for pursuing a loan modification; and  (c)   providing   accurate  information  regarding  the  status  of  a borrower's loan modification application should such borrower choose  to apply for a modification.   3.  The  single point of contact required by this section shall remain assigned to the  borrower's  account  until  such  time  as  the  lender determines  that  all  loss  modification options have been exhausted or until the borrower's account becomes current.   4. For the purposes of this section, "home loan" shall have  the  same meaning  as defined in paragraph (e) of subdivision one of section six-l of this article.   * NB Effective January 2, 2022
NY Banking L § 7 (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 7 - Payment of Dividends or Interest Upon Unclaimed Deposits or Shares; Limitation of Charges in Connection With Savings Accounts.

§ 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  with such organization or corporation, or reduce the   rate at which dividends or interest is paid, solely because such deposit   is inactive or unclaimed, except that payment of dividends  or  interest   may  be discontinued for the period following June thirtieth of the year   in which the deposit is  paid  to  the  state  comptroller  pursuant  to   section  three  hundred  three  of  the  abandoned property law. A share   issued by a savings and loan association or by a credit union  shall  be   deemed a deposit for the purposes of this section.2.  No banking organization or foreign banking corporation transacting   business in this state shall impose any service charge  on  an  inactive   savings  account which is higher than the service charge imposed by such   organization or corporation on  an  active  savings  account;  provided,   however,  that a banking organization or foreign banking corporation may   impose a reasonable charge on an  inactive  savings  account  for  costs   related  to  or  incurred  as  a  result  of  the payment or delivery of   abandoned property to the state comptroller pursuant  to  the  abandoned   property law.3.  The  superintendent  of  financial  services  may  promulgate such   regulations as he or she deems necessary and  proper  to  implement  and   define the provisions of this section.
NY Banking L § 8 (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 8 - Deposits by Custodian Designated by Administrator of Veterans' Affairs, or by Person Certified by Social Security Administration.

§ 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  the   administrator  of  veterans' affairs pursuant to the provisions of title   thirty-eight, United States code, "Veterans' Benefits", as  amended,  or   when  a  deposit  shall  be  made  for the benefit of an individual by a   person who has been certified by the social security  administration  as   the  person to whom payment for the benefit of such individual should be   made pursuant to the provisions of  an  act  of  congress  entitled  the   "Social  Security  Act",  the  deposit,  together  with  any interest or   dividends credited thereon,  may  be  paid  to  such  custodian  or  his   successor  designated  by  the  administrator of veterans' affairs or to   such  person  or  his  successor  certified  by  the   social   security   administration,  and  the  receipt  or  acquittance of such custodian or   person or such successor shall be a valid  and  sufficient  release  and   discharge to the depositary for any payment so made.
NY Banking L § 9 (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9 - Checks Drawn Against Corporate Funds or Payable to Corporations; No Notice of Defense Against or Claim to Check.

§ 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, or in the name   of the corporation, whether the check is drawn against an account in the   name of the corporation, or in the name of such officer or agent of  the   corporation  as such, to himself as payee, or the endorsement of a check   in the name of the corporation, to himself as endorsee,  and  in  either   case  the  cashing of such check or the deposit thereof to the credit of   his personal account, shall not constitute notice to a  private  banker,   banking  organization  or branch of a foreign banking corporation of any   defense against or claim to  the  check  on  the  part  of  any  person,   provided  that the private banker, banking organization or branch has on   file an authorization from the corporation showing that the  officer  or   agent  is  authorized on behalf of the corporation to perform any of the   above acts for unlimited or limited amounts, and that the amount of  the   check  does  not exceed the maximum limits of the amount so contained in   the authorization so  filed  for  the  officer  or  agent  when  such  a   limitation is contained therein.
NY Banking L § 9-A (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9-A - Defense of Ultra Vires.

§ 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 or   among its purposes a purpose for which a corporation may be formed under   this chapter, and no transfer of real or personal property to or by such   a corporation, otherwise lawful, shall be invalid by reason of the  fact   that  the corporation was without capacity or power to do such act or to   make or receive such transfer, but such lack of capacity or power may be   asserted:1. In an action by a stockholder or member against the corporation  to   enjoin the doing of any act or the transfer of real or personal property   by  or to the corporation. If the unauthorized act or transfer sought to   be enjoined is being, or is to be, performed or made under any  contract   to  which  the  corporation  is  a  party,  the court may, if all of the   parties to the contract are parties to the action and if  it  deems  the   same  to  be  equitable,  set  aside  and enjoin the performance of such   contract, and in so doing may allow to the corporation or to  the  other   parties to the contract, as the case may be, such compensation as may be   equitable  for  the  loss  or  damage  sustained by any of them from the   action of the court in setting aside and enjoining  the  performance  of   such  contract; provided that anticipated profits to be derived from the   performance of the contract shall not be awarded by the court as a  loss   or damage sustained.2.  In  an  action  by or in the right of the corporation to procure a   judgment in its favor against an incumbent or former officer or director   of the corporation for loss or damage due to his unauthorized act.3. In an action or special proceeding by  the  superintendent  or  the   attorney-general  to  annul  or dissolve the corporation or to enjoin it   from the doing of unauthorized business.
NY Banking L § 9-B (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9-B - Actions or Special Proceedings by Superintendent or Attorney-General.

§ 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 superintendent or the attorney-general may  maintain  an  action  or special proceeding:  (a)  To annul the corporate existence or dissolve a corporation formed under any article of this chapter or formed under any other  statute  or special  act  having  as its purpose or among its purposes a purpose for which a corporation may be formed under  this  chapter  that  has  acted beyond  its  capacity  or  power  or  to  restrain  it from the doing of unauthorized business.  (b) To annul the corporate existence or dissolve any such  corporation that has not been duly formed.  (c)  To  restrain  any  person  or  persons  from  acting  as  such  a corporation within this state without being duly  incorporated  or  from exercising  in this state any corporate rights, privileges or franchises not granted to them by the law of the state.  (d) To dissolve a corporation under section nine-c.   2. In any action or special proceeding brought under this section:  (a) If an action, it is triable by jury as a matter of right.  (b) The court may confer immunity in accordance with the provisions of section 50.20 of the criminal procedure law.  (c) A temporary  restraining  order  to  restrain  the  commission  or continuance  of  the unlawful acts which form the basis of the action or special proceeding may be granted upon proof,  by  affidavit,  that  the defendant or defendants have committed or are about to commit such acts. Application for such restraining order may be made ex parte or upon such notice as the court may direct.  (d)  When  final  judgment  in  such  action  or special proceeding is rendered against the defendant or defendants, the court may  direct  the costs  to be collected by execution against any or all of the defendants or by order of attachment or other process against  the  person  of  any director or officer of a corporate defendant.  (e)  In connection with any such proposed action or special proceeding the superintendent or the attorney-general  may  take  proof  and  issue subpoenas in accordance with the civil practice law and rules.
NY Banking L § 9-C (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9-C - Superintendent's or Attorney-General's Action for Judicial Dissolution.

§ 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 under any other statute or special act having  as  its purpose  or  among its purposes a purpose for which a corporation may be formed under this chapter upon one or more of the following grounds:  (a) That the corporation procured  its  formation  through  fraudulent misrepresentation or concealment of a material fact.  (b)  That the corporation has exceeded the authority conferred upon it by law, or has violated any provision of law whereby  it  has  forfeited its  charter,  or  carried on, conducted or transacted its business in a persistently fraudulent or illegal manner, or by the abuse of its powers contrary to the public policy of the  state  has  become  liable  to  be dissolved.   2.  An  action  under  this  section is triable by jury as a matter of right.   3. The enumeration in subdivision one of grounds for dissolution shall not exclude actions or special proceedings by  the  superintendent,  the attorney-general   or   other  state  officials  for  the  annulment  or dissolution of a corporation  for  other  causes  as  provided  in  this chapter or in any other statute of this state.
NY Banking L § 9-D (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9-D - Enforcement of Section Two Hundred Ninety-Six-a of the Executive Law.

§ 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  law  by  taking  such   action as is therein authorized.
NY Banking L § 9-F (2021)
2021 New York Laws BNK - Banking Article 1 - Short Title; Definitions; Miscellaneous Provisions. 9-F - Geographic Discrimination in Making Mortgage Loans Prohibited.

§ 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  or   otherwise  discriminate  with  respect thereto because of the geographic   location of such  property  if  such  property  is  located  within  the   geographic area ordinarily serviced by such bank or within the community   within  which  the  principal  or  any  branch  office  of such banks is   located. A violation of the provisions  of  this  subdivision  shall  be   subject  to  the  applicable  provisions  of  sections  thirty-nine  and   forty-four of this chapter.2. Any person who makes application for such a  loan  and  is  refused   such  loan  may  request the superintendent to review the denial of such   application. If the superintendent determines that such loan was prudent   and  was  denied  in  violation   of   subdivision   one   hereof,   the   superintendent shall certify such determination to the state of New York   mortgage  agency created pursuant to title seventeen of article eight of   the public authorities law.3. For the purposes of this section, the term (a) "prudent loan" means   a loan upon the security of real property which is prudent by acceptable   banking standards and is in compliance with all  of  the  provisions  of   this  chapter  and  rules  and  regulations  of  the  superintendent  of   financial services; and (b) notwithstanding any other provision of  this   chapter  or  law to the contrary, the term banking institution when used   in this section shall mean  and  include  all  banks,  trust  companies,   savings  banks,  savings  and loan associations, credit unions, mortgage   bankers, exempt organizations as defined in  article  twelve-D  of  this   chapter   and   foreign   banking   corporations  whether  incorporated,   chartered, organized or licensed under the laws of  this  state  or  any   other state or the United States.4.  If  any  clause,  sentence, paragraph, subdivision or part of this   section or the application thereof to any person, firm  or  corporation,   or circumstance shall be adjudged by any court of competent jurisdiction   to  be  invalid  or  unconstitutional,  such  judgment shall not affect,   impair or invalidate the remainder thereof, but shall be confined (i) in   its operation to the clause, sentence, paragraph, subdivision,  or  part   of  this  section,  or  (ii)  in  its application to the person, firm or   corporation, or circumstance, directly involved in  the  controversy  in   which such judgment shall have been rendered.