reglab/housing_qa huggingface dataset:
NY Banking L § 392 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 392 - Retirement of Shares; Suspension; Transfer.

§ 392.  Retirement  of  shares;  suspension; transfer. 1. The board of   directors of any savings and loan association may  retire  shares  which   are not pledged to the association by requiring their withdrawal, if the   by-laws  clearly  state  the  manner  in  which  such withdrawals may be   required. The holders of such shares shall be paid  the  book  value  of   their shares less all lawful obligations.2.  Whenever  a  member of any savings and loan association shall have   failed for six months to pay dues upon any instalment  shares  owned  by   him,  such association may serve notice upon him to pay such dues within   the time stated in such notice, which time shall be not less than thirty   days. If such shareholder does not make such  payment  within  the  time   stated  in  the  notice, the amount which would be due him if his shares   were withdrawn shall be  determined  and  such  amount  transferred  and   credited  to  him  in  a savings share account or a suspense account. If   transferred to a suspense account, the rights of such member shall cease   except the right to withdraw, subject to the provisions of section three   hundred ninety of this article, the amount thus credited to him and such   dividends as  may  be  credited  thereon  following  the  date  of  such   transfer. Dividends on amounts in suspense accounts shall be credited at   a  rate  of  at least three-fifths of the lowest rate at which dividends   are apportioned to any type of instalment shares.3. No transfer of shares shall be binding upon any  savings  and  loan   association  until  such transfer has been recorded upon its books.  The   transferee of any share shall take the same subject to  all  liabilities   to  the  association and all conditions attaching thereto at the time of   the transfer. If the shares are in the names of two persons and  in  the   form  to  be  paid  to  either  or  the survivor of them, the assignment   thereof by one of such persons shall authorize the association to record   the assignment upon its books or to accept it as collateral for a  share   loan  made pursuant to subdivision two-a of section three hundred eighty   of this article.
NY Banking L § 393 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 393 - Repayment of Mortgage Loans; Application of Pledged Shares.

§ 393.  Repayment of mortgage loans; application of pledged shares. 1. For the purpose of making payment on his mortgage loan a member  may  at any  time,  without  forfeiture  of  dividends, transfer from the amount credited upon the shares pledged by him as security, a sum equal to  the matured value of one or more instalment shares.   2.  Any  mortgage  loan  made  by  a savings and loan association to a member may be repaid in whole or in part  at  any  time,  but  the  loan contract  may expressly provide for a period during which prepayment may not be made without incurring prepayment penalties. When such  provision is  contained therein, the loan contract must also expressly provide for prepayment penalties or no prepayment penalties may  be  collected  when the  loan  is prepaid. However, where a loan is secured by mortgage on a one to six family residence, or is extended to finance the purchase of a cooperative under subdivision two-a of section three hundred  eighty  of this  chapter  which  residence or cooperative is or will be occupied in whole or in part by the member, prepayment penalties may be imposed only during the first twelve months from the date the mortgage or cooperative loan was made and may not exceed:  (a) Interest for a period of three months on the principal so prepaid; or  (b) Interest for the  remaining  months  of  the  first  year  on  the principal  so  prepaid  if the prepayment is made at any time within one year from the date the loan is made.   The book value of instalment shares pledged as security for  any  such loan  shall  be  deducted from the amount of the loan in determining the amount of principal upon which such interest may be charged.   3. Whenever any mortgage is foreclosed, the withdrawal  value  of  the shares  transferred  and pledged to any such association as security for the loan shall be applied toward the payment of the indebtedness of  the member and his rights under such shares shall terminate.   4.  In  event  of  the  voluntary  or  involuntary  liquidation of any association, the holder of shares pledged as  security  for  a  mortgage loan  pursuant  to  the  provisions  of subdivision one of section three hundred eighty of this article shall be entitled to have the payments on such shares and the  dividends  credited  or  entitled  to  be  credited thereon applied in reduction of such mortgage loan.   5.  No shares pledged as security for a mortgage loan may be withdrawn while the mortgage loan against which they are pledged is outstanding.
NY Banking L § 394 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 394 - Joint Shares; Shares of Minors; Shares in Trust.

§ 394. Joint shares; shares of minors; shares in trust.3.  When  shares  shall be issued in the name of a minor they shall be   held for the exclusive right and benefit of such minor and free from the   control  or  lien  of  all  other  persons  except  creditors,  and  the   withdrawal  value  thereof shall be paid to the person in whose name the   shares are held. A receipt or acquittance from such  minor  shall  be  a   valid  and  sufficient  release and discharge to the association for all   payments made on account of such shares. When shares have been issued to   a parent, guardian or voluntary trustee for a minor the association  may   permit the transfer of such shares to the minor by such parent, guardian   or  trustee  and  in  the event of the death of such parent, guardian or   trustee the association may  transfer  and  hold  such  shares  for  the   exclusive  right  and  benefit  of  such  minor,  upon  presentation  of   satisfactory evidence of such  death  and  upon  the  surrender  of  the   certificate,  passbook or other proper evidence of the ownership of such   shares.4. No association shall be liable to beneficiaries for moneys paid  to   their  guardians  or  trustees, unless written notice of limitation upon   the right of such guardians or trustees to withdraw such funds has  been   previously  filed  with  the  association. The receipt or acquittance of   such guardians or trustees shall be a valid and sufficient  release  and   discharge  to the association for all payments made prior to the receipt   of written notice of such limitation.
NY Banking L § 395 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 395 - Alternative Provisions Relative to Payment of Interest to Shareholders.

§ 395.  Alternative  provisions  relative  to  payment  of interest to   shareholders. Notwithstanding any  provision  of  this  chapter  to  the   contrary the superintendent may adopt such rules or regulations as shall   permit  mutual  savings  and  loan associations to pay interest on share   accounts at the option of such association.
NY Banking L § 396-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 396-A - Electronic Facilities.

§ 396-a.  Electronic  facilities.  A  savings and loan association may   conduct a banking business, at automated teller machines,  point-of-sale   terminals,  and  similar  facilities subject to regulations which may be   promulgated by the superintendent of financial services. Such facilities   shall not be deemed to be branches and shall not be subject  to  any  of   the  provisions of this chapter applicable to branches; provided however   that notwithstanding the foregoing, for purposes  of  paragraph  (b)  of   subdivision  two  of  section  three hundred ninety-six of this chapter,   such facilities shall be deemed to  be  branches,  and  such  facilities   shall  be  subject  to the terms and conditions of section three hundred   ninety-six, and for purposes of section twenty-eight-b of this  chapter,   such facilities shall be deemed to be branches.
NY Banking L § 396-B (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 396-B - Acceptance of United States Currency.

§ 396-b.  Acceptance  of  United  States currency. No savings and loan   association shall  impose  a  fee,  commission  or  service  charge  for   accepting for deposit or exchanging for other United States currency any   United  States  currency provided that any coins are properly rolled and   have the customer's account number for that savings and loan association   displayed on the coin roll, provided further that no more than ten rolls   of coins in any denomination are presented for deposit  or  exchange  at   any one time.
NY Banking L § 397-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 397-A - Report to Directors.

§ 397-a.  Report to directors. The board of directors of every savings   and loan association shall designate, by resolution duly recorded in the   minutes, an officer or officers whose duty it shall be  to  prepare  and   submit  to each director present at a regular meeting of the board or to   each member of an executive committee of not less than five  members  of   such  board  present  at  a regular meeting of such committee, a written   report containing such information and meeting such requirements as  are   required  in  the  case  of reports submitted to the trustees of savings   banks pursuant to section two hundred fifty-two of this chapter and such   regulations  as  the  superintendent  may   promulgate   thereunder   or   hereunder.  A  copy  of  such  report,  verified by the affidavit of the   officer or officers charged with the duty of  preparing  and  submitting   such  report,  together  with  a  list  of the directors present at such   meeting, shall be filed  with  the  records  of  the  savings  and  loan   association  within one day after such meeting, and shall be presumptive   evidence  of  the  matters  therein  stated.  The   superintendent,   by   regulation,  may require the preparation and submission of such a report   to directors at dates other than those required herein.
NY Banking L § 398 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 398 - Filling of Vacancies in Board of Directors; Change in Number of Directors.

§ 398. Filling of vacancies in board of directors; change in number of   directors.  1.  Vacancies  in  the board of directors of any savings and   loan association not exceeding one-third of  the  whole  number  of  the   board  may  be  filled by vote of a majority of the remaining directors,   and the directors so elected may hold office until  such  vacancies  are   filled  by  the members at a special or annual election. When the number   of directors fixed by the by-laws of any savings and loan association is   nine or more, two vacancies may, with the consent of the superintendent,   be left unfilled until the next annual  election.    All  vacancies  not   otherwise  provided  for  in this section shall be filled by election by   the members.2. The number of directors may be changed within the  limits  provided   in subdivision one of section three hundred ninety-seven of this article   by  amendment  of the by-laws, except where the by-laws provide that the   number of directors shall be not less than seven nor more  than  fifteen   and  also  provide  the manner in which the number of directors shall be   fixed within the minimum and maximum limits.3. Each vacancy in the office of director and each  reduction  in  the   number  of  directors shall be reported to the superintendent within ten   days after such vacancy occurs  or  such  reduction  is  effected.  Each   election  of  a  director  shall  be likewise reported together with the   name, address and occupation of the person so elected.
NY Banking L § 398-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 398-A - Forfeiture of Office of Director.

§ 398-a. Forfeiture of office of director. The office of a director of   a  savings  and  loan  association shall become vacant whenever he shall   have failed to attend the regular meetings of the board of directors and   also of any committee of the board of which he is a member, for a period   of six successive months, unless excused by the board for  such  failure   by  resolution  adopted  at  the  first or second regular meeting of the   board after expiration of such six months period, and entered  upon  its   minutes.  A  copy  of  such  resolution  shall  be  transmitted  to  the   superintendent by the savings and  loan  association  within  five  days   after  its  adoption. A director who has vacated his office by reason of   such failure to attend meetings shall not be eligible for re-election as   a director until the expiration of one year from the date of  the  first   regular  meeting  of  the  board  at  which a resolution could have been   adopted by it, as herein provided, to excuse such failure.
NY Banking L § 398-B (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 398-B - Duties of Directors and Officers.

§ 398-b. Duties of directors and officers.   1.  Directors  and  officers  shall  discharge  the  duties  of  their respective positions in good faith and with that  degree  of  diligence, care   and   skill  which  prudent  men  would  exercise  under  similar circumstances in like positions. In discharging their duties,  directors and  officers,  when  acting  in good faith, may rely (a) upon financial statements of the savings and loan association represented to them to be correct by the  president  or  the  officer  of  the  savings  and  loan association  having  charge  of  the  books  of  account, or stated in a written report by an independent public or certified  public  accountant or firm of such accountants fairly to reflect the financial condition of such  savings  and  loan association and (b) upon reports required to be submitted to them by any provision of this chapter or  prepared  in  the ordinary  course of business by an officer or committee charged with the responsibility therefor. Nothing in this  section  shall  be  deemed  to require  the  directors  to  perform  functions vested in any committee, officer or other person pursuant to the provisions of any other  section of this chapter.   2.  An action may be brought against one or more directors or officers of a savings  and  loan  association  to  procure  a  judgment  for  the following relief:  (a) To compel the defendant to account for his official conduct in the following cases:  (1)  The  neglect of, or failure to perform, or other violation of his duties in the  management  and  disposition  of  the  savings  and  loan association's assets committed to his charge.  (2)  The  acquisition by himself, transfer to others, loss or waste of the savings and loan association's assets  due  to  any  neglect  of  or failure to perform, or other violation of his duties.  (b)  To  set aside a conveyance, assignment or transfer of the savings and loan association's assets by one  or  more  directors  or  officers, contrary to a provision of law, where the transferee knew the purpose of the transfer.  (c) To enjoin such a conveyance, assignment or transfer of the savings and  loan  association's  assets  by  one  or  more  of the directors or officers where there is good reason to apprehend that it will be made.   3. Subject to section six  hundred  thirty-one  of  this  chapter,  an action  may  be  brought  for  the  relief provided in this section by a savings and  loan  association  or  an  officer,  director  or  judgment creditor thereof.   4.  This  section  shall not affect any liability otherwise imposed by law upon any director or officer.
NY Banking L § 398-C (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 398-C - Executive Committee and Other Committees.

§ 398-c.   Executive   committee  and  other  committees.  1.  If  the organization certificate  or  the  by-laws  so  provide,  the  board  of directors,  by resolution adopted by a majority of the entire board, may designate from among its members an executive committee consisting of at least five directors and other committees each consisting of two or more directors, officers or other persons, not including  alternate  members, but  not  less  than  may  otherwise  be  required  by  this chapter nor differing in composition from any requirement of this chapter, and  each of which, shall have such authority as may be provided in the resolution or  in  the  organization  certificate or by-laws or under this chapter, except that no such committee shall have authority as to  the  following matters:  (a)   The   submission  to  shareholders  of  any  action  that  needs shareholders' authorization under this chapter;  (b) The filling of vacancies in the board of directors or in any  such committee;  (c)  The  fixing  of  compensation of the directors for serving on the board or on any committee;  (d) The amendment or repeal of the by-laws, or  the  adoption  of  new by-laws;  (e)  The  amendment  or repeal of any resolution of the board which by its terms shall not be so amendable or repealable;  (f) The taking of action which is expressly required by any  provision of  this chapter to be taken at a meeting of the board or by a specified proportion of the directors.   2. Each such committee shall serve at the pleasure of the board.   The designation  or  appointment  of,  or  making of provision for, any such committee and the  delegation  thereto  of  authority  shall  not  alone relieve  any director of his duty to the association under any provision of this chapter.   3. Minutes shall be kept of each meeting of each  such  committee  and records  shall  be kept of all action taken in exercise of the authority or in performance of the function of each such committee.  Such  minutes and  records  shall  be submitted to the board of directors and shall be filed with the records of the association.
NY Banking L § 400 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 400 - Pensions; Insurance.

§ 400.  Pensions;  insurance.  Subject  to  such  regulations  as  the   superintendent of financial services may prescribe, a savings  and  loan   association may, in the discretion of a majority of all the directors:1.   Provide   pensions  to  officers  and  employees  pursuant  to  a   nondiscriminatory plan for service rendered  to  the  savings  and  loan   association  or  for having become incapacitated while in service to the   savings and loan association, including annual supplements  to  retirees   based  upon  the  "current cost of living index figure" for any calendar   year based upon the Consumer Price Index as  issued  by  the  bureau  of   labor statistics of the United States department of labor.2.  Provide  life  insurance  for its officers and employees, provided   that life insurance is not purchased solely for or on behalf of officers   and highly compensated employees.
NY Banking L § 401 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 401 - Official Communications to Be Submitted to Directors and Noted in Minutes.

§ 401.  Official communications to be submitted to directors and noted   in minutes. Every official communication, as defined in article  two  of   this  chapter,  shall  be submitted, by the officer receiving it, to the   board of directors at the next meeting of such board and  noted  in  the   minutes.
NY Banking L § 402 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 402 - Amendment of Articles of Association and By-Laws.

§ 402. Amendment  of  articles  of association and by-laws. Any proposed   change in the  articles  of  association,  certificate  of  association,   organization  certificate  or  the  by-laws  of  any  savings  and  loan   association shall be submitted  to  the  superintendent  and,  upon  the   superintendent's   written  approval  thereof,  shall  be  posted  in  a   conspicuous place in the office of the association for thirty days. Such   proposed changes may thereafter  be  incorporated  in  the  articles  of   association, certificate of association, organization certificate or the   by-laws  of  the  association  by being duly adopted by its directors. A   copy of such change shall be filed in the office of  the  superintendent   within thirty days after such adoption.
NY Banking L § 403 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 403 - Examination by Directors.

§ 403.  Examination  by directors.  1.  Once in each calendar year the   directors of every savings and loan association by a  committee  of  not   less than three of their number, none of whom shall be salaried officers   or  employees  of  such association, shall examine fully the records and   affairs of such association for the  purpose  of  determining  its  true   financial  condition.  Such  examination  shall be made as of a date not   less than six months after the date of the previous such examination.2.  In the conduct of each such examination,  inquiry  shall  be  made   into  the  policies of management for the purpose of determining whether   such policies are sound and consistent with the requirements of law, and   into such other matters as shall be necessary to enable the directors to   determine whether adequate protection is afforded  to  shareholders  and   depositors.3.    A  savings  and  loan  association's compliance with section one   hundred twelve of the Federal Deposit Insurance Corporation Act of 1991,   as implemented by the provisions of part three  hundred  sixty-three  of   the  rules and regulations of the Federal Deposit Insurance Corporation,   as they may be amended from time to time, shall be deemed to satisfy the   examination requirement of this section.4. The directors may employ such assistance as they deem necessary  in   making  the  examinations prescribed by this section. Within thirty days   after the completion of such examination, a report thereof, in such form   as the superintendent may prescribe and sworn to by the directors making   the report, shall be  presented  to  the  board  of  directors  of  such   association  at  a  regular meeting, and placed on file in the office of   the association. Within ten days after the presentation of  such  report   to  the  board  of  directors  a duplicate thereof shall be filed in the   office of the superintendent, together  with  a  certificate  that  such   report  was  presented to the board of directors, in the form prescribed   by the superintendent.