reglab/housing_qa huggingface dataset:
NY Banking L § 420-G (2021)
2021 New York Laws BNK - Banking Article 10-A - State Savings and Loan Insurance Fund 420-G - Insurance of Accounts and Eligibility Provisions.

§ 420-g.  Insurance  of  accounts  and eligibility provisions. 1.   It   shall be the duty of the fund  to  insure  the  accounts  of  all  state   savings and loan associations that apply and qualify therefor.  Approval   of  the  application shall constitute the savings and loan association a   member of the fund.2. Applications shall be in such form as the fund shall prescribe, and   shall contain an agreement (a)  to  pay  the  reasonable  cost  of  such   examinations  as  the  fund shall deem necessary in connection with such   insurance, and (b) if the insurance is granted, to permit  and  pay  the   cost  of  such examinations as in the judgment of the fund may from time   to time be necessary for its protection and  the  protection  of  member   savings  and loan associations, to permit the fund to have access to any   information or report with respect to any examination made by any public   regulatory authority and to  furnish  any  additional  information  with   respect  thereto as the fund may require, and to pay the premium charges   for insurance as hereinafter provided.3. The fund shall reject the application of any applicant if it  finds   that  the  applicant  has  assets  insufficient to pay its debts and the   amount due its members upon  savings  accounts  or  that  its  financial   policies  or  management  are unsafe or unsound; and the fund may reject   the application of any applicant if it finds that the character  of  the   management of the applicant or its home financing policy is inconsistent   with  economical  home  financing  or with the purposes of this article.   Upon the approval of any application for insurance the fund shall notify   the applicant, and upon the required purchase of the  capital  stock  of   the  fund  and  upon  the payment of the initial premium charge for such   insurance and required advance premiums the  fund  shall  issue  to  the   applicant   a   certificate  stating  that  it  has  become  an  insured   institution. In considering applications for  such  insurance  the  fund   shall  give  full  consideration  to  all factors in connection with the   financial condition of applicants and insured  institutions,  and  shall   have  power to require such adjustments in their financial statements as   the fund finds to be necessary.4. Any savings and loan association which applies after January first,   nineteen hundred sixty-seven for insurance under this article shall pay,   in the event its application is  approved,  an  admission  fee  in  such   amount  as the fund shall determine, taking into consideration the total   cost of processing all insurance applications.
NY Banking L § 420-H (2021)
2021 New York Laws BNK - Banking Article 10-A - State Savings and Loan Insurance Fund 420-H - Premiums on Insurance.

§ 420-h.  Premiums  on insurance. 1. Each savings and loan association   whose application for insurance  is  approved  by  the  fund  shall  pay   required  advance  premiums to the fund, as well as a premium charge for   such insurance equal to one-twelfth of  one  per  centum  of  the  total   amount  of  all  savings  accounts of such institution plus any creditor   obligations of such institution. Such premiums shall be paid at the time   the certificate is  issued  by  the  fund  under  section  four  hundred   twenty-g  of this article, and thereafter annually until the reserves of   the fund equal two and one-half per centum of all  savings  accounts  of   all  members;  except that under regulations prescribed by the fund such   premium charge may be paid semiannually. If at any  time  such  reserves   fall  below such two and one-half per centum, the payment of such annual   premium charge for insurance shall be resumed  and  shall  be  continued   until the reserves are brought back to such two and one-half per centum.   For  the  purposes  of  this  subdivision, the amount in all accounts of   insured  members  and  the  amount  of  creditor  obligations   of   any   institution  may  be determined from adjusted statements made within one   year prior to the approval of the application of such savings  and  loan   association  for  insurance,  or in such other manner as the fund may by   rules and regulations prescribe.2. The fund is further  authorized  to  assess  against  each  insured   savings and loan association additional premiums for insurance until the   amount  of such premiums equals the amount of all losses and expenses of   the fund; except that the total amount  so  assessed  in  any  one  year   against   any  such  savings  and  loan  association  shall  not  exceed   one-eighth of one per centum of the total amount of its savings accounts   and its creditor obligations.
NY Banking L § 420-I (2021)
2021 New York Laws BNK - Banking Article 10-A - State Savings and Loan Insurance Fund 420-I - Payment of Insurance.

§ 420-i.  Payment  of  insurance. 1. Each savings and loan association   whose application for insurance under this article is  approved  by  the   fund  shall  be entitled to insurance up to the full withdrawal value of   the accounts of each of its members and investors or in such  amount  as   shall be established by the board of trustees, but in no event shall the   maximum amount of insurance for any savings account be less than fifteen   thousand dollars.2.  In  the  event  of  a  default  by  any  insured  savings and loan   association, payment of each insured account in such insured association   shall be made by the fund as soon as possible either (1) by cash or  (2)   by  making  available  to  each  savings  account  a transferred savings   account in a new insured  savings  and  loan  association  in  the  same   community  or  in  another  insured  savings  and loan association in an   amount equal to the insured savings account; provided however, that  the   fund,  in its discretion, may require proof of claims to be filed before   paying the insured accounts, and that in any case where the fund is  not   satisfied  as  to the validity of a claim for an insured account, it may   require the final determination of a  court  of  competent  jurisdiction   before paying such claim.
NY Banking L § 420-J (2021)
2021 New York Laws BNK - Banking Article 10-A - State Savings and Loan Insurance Fund 420-J - Liquidation of Insured Savings and Loan Associations.

§ 420-j.  Liquidation of insured savings and loan associations.  1. In   the event that a savings and loan association is in  default,  the  fund   may be appointed by the superintendent as conservator or receiver and as   such,  may  be  authorized  by  the  superintendent (a) to take over the   assets of and operate such association, (b) to take such action  as  may   be  necessary  to  put  it  in  a  sound  and  solvent condition, (c) to   negotiate  for  a  merger  with  another  insured   savings   and   loan   association, (d) to negotiate the organization of a new savings and loan   association  to take over its assets, or (e) to proceed to liquidate its   assets  in  an  orderly  manner,   whichever   shall   appear   to   the   superintendent  to be in the public interest. The payment by the fund of   an insured account in any such association which  is  in  default  shall   entitle  the  fund  to the rights of the holder of such insured account,   but shall not affect any right which the holder of such account may have   in the uninsured portion of his account or any right which he  may  have   to  participate  in  the distribution of the net proceeds remaining from   the disposition of the assets of such association.2. In order to prevent a  default  in  an  insured  savings  and  loan   association  or  in  order  to  restore an insured association to normal   operation as an insured  savings  and  loan  association,  the  fund  is   authorized, in its discretion, to make loans to, purchase the assets of,   or make a contribution to, an insured savings and loan association or an   insured  savings  and  loan  association in default; but no contribution   shall be made to any such association in an amount  in  excess  of  that   which  the  fund finds to be reasonably necessary to save the expense of   liquidating such association.
NY Banking L § 420-L (2021)
2021 New York Laws BNK - Banking Article 10-A - State Savings and Loan Insurance Fund 420-L - Savings and Loan Bank Eligible as Fiscal Agent.

§ 420-l.  Savings and loan bank eligible as fiscal agent.  The savings   and loan bank operating pursuant to article ten-B of the banking law may   be designated by the fund as its fiscal agent; such bank shall have  the   power  to  accept such designation and to do all acts necessary in order   to carry out the duties thereby imposed in accordance with any agreement   entered into pursuant thereto.
NY Banking L § 432 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 432 - Incorporation; Organization Certificate.

§ 432. Incorporation; organization certificate. When authorized by the   superintendent  as  provided in article two of this chapter, ten or more   savings and loan associations, the aggregate resources  of  which  shall   not  be  less  than  five million dollars, may form the Savings and Loan   Bank of the State  of  New  York.    Each  of  such  associations  shall   subscribe, acknowledge and submit to the superintendent at his office an   organization certificate in duplicate which shall specifically state:1. The name, "Savings and Loan Bank of the State of New York."2.  The  place  in  the  state of New York where its business is to be   transacted.3. The number of shares for  which  each  association  has  subscribed   which  shall  amount  in  the  aggregate  to  not  less than one hundred   thousand dollars.4. The number of directors of such savings and loan bank, which  shall   not  be  less  than  seven  nor  more than fifteen, and the names of the   persons who shall be its directors until the first annual meeting.   The   certificate  shall  recite that the directors possess the qualifications   specified in section four hundred forty-one of this article.5. The name and location of the principal office of each  savings  and   loan association subscribing the certificate and the aggregate resources   of each such association.
NY Banking L § 433 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 433 - Proposed By-Laws.

§ 433.   Proposed  by-laws.  The  incorporators  shall  subscribe  and   acknowledge and submit to the  superintendent  at  his  office  proposed   by-laws  in  duplicate,  which  shall  prescribe the manner in which the   business of such savings and loan bank shall be conducted with reference   to the following matters: 1. The date during the month of January of the   annual meeting of shareholders; the manner of calling special  meetings,   and the number of members which shall constitute a quorum.2.  The  number,  manner  of election and qualifications of directors,   subject to the provisions of section  four  hundred  forty-one  of  this   article;  the  method  of  division  into  classes  for  the  purpose of   electing, as nearly as may be, an equal number of directors  each  year;   the  removal or suspension of directors; the filling of vacancies in the   board of directors, and the number of directors which shall constitute a   quorum, which shall not be less than five.3. The meetings, powers and duties of directors;  the  appointment  or   election of committees.4.  The officers; the manner of their election; their terms of office,   duties and compensation; and  the  bonds  which  shall  be  required  of   officers.5.  The  annual commission that may be charged each member, subject to   the limitations of section four hundred forty of this article.6. The minimum amount of shares necessary to qualify for membership.7. The minimum amount of shares necessary to qualify for extension  of   credit.8.  The  manner  of voting, subject to the limitations of section four   hundred forty-four of this article.9. The transfer of membership, subject to the limitations  of  section   four hundred thirty-nine of this article.10. The manner in which the by-laws may be altered or amended.
NY Banking L § 434 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 434 - When Corporate Existence Begins; Conditions Precedent to Commencing Business.

§ 434.  When  corporate  existence  begins;  conditions  precedent  to   commencing business. When the superintendent  shall  have  endorsed  his   approval  on  the organization certificate as provided in article two of   this chapter, the corporate existence of the Savings and  Loan  Bank  of   the  State of New York shall begin and it shall then have power to elect   officers  and  transact  such  other  business   as   relates   to   its   organization;  but  such  savings  and loan bank shall transact no other   business until: 1.  Subscriptions to its shares aggregating one  hundred   thousand  dollars  shall have been paid in cash and an affidavit stating   that such subscriptions have been so paid, subscribed and  sworn  to  by   its  two principal officers, shall have been filed in the clerk's office   of the county of New York, and a certified copy thereof in the office of   the superintendent.2. The superintendent shall have duly issued to it  the  authorization   certificate specified in article two of this chapter.
NY Banking L § 436 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 436 - Restrictions on Powers.

§ 436. Restrictions on powers. The savings and loan bank shall not: 1.   Do a general deposit business except with its members.2.  Invest  more than twenty-five per centum of its surplus account in   real estate occupied, or to be occupied, by it as a place  of  business,   without the written approval of the superintendent.3.  Incur  any indebtedness, except for the purpose of making loans to   its members or purchasing from its members  those  investments  made  by   them under article ten of this chapter, upon any bonds or notes, secured   or  unsecured,  with a maturity exceeding three years or in an aggregate   amount exceeding five times its capital.4. Incur any indebtedness upon bonds or notes, secured  or  unsecured,   for  the purpose of making loans to its members unless the amount of any   such bonds or notes which are secured shall not be in excess  of  eighty   per  centum  of the value of the collateral security pledged therefor to   such savings and loan bank; and  any  such  bonds  or  notes  which  are   unsecured shall not have a maturity in excess of three years.5. Purchase from its members mortgage loans which were originated less   than  five  years prior to date of such purchase, nor incur indebtedness   for  the  purchase  from  its  members  of  mortgage  loans  which  were   originated  five years or more prior to the date of such purchase by the   issuance of bonds or  notes,  secured  or  unsecured,  with  a  maturity   exceeding five years.
NY Banking L § 437 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 437 - Redemption of Bonds and Notes; Procedure in Event of Default.

§ 437.  Redemption  of bonds and notes; procedure in event of default.   1.  All bonds and notes issued by the  savings  and  loan  bank  may  be   called  on  any  interest day at one hundred two and one-half per centum   and interest by giving notice of not less than sixty days in a newspaper   published in the city of New York or on such notice, in such manner  and   at  such  time  and price, not to exceed one hundred five per centum and   interest, as may be specified in such bonds or notes.2. In the event of any default  for  more  than  ninety  days  in  the   payment of the principal of, or for more than ninety days in the payment   of  any  instalment  of  interest  upon,  any bond or note issued by the   savings and loan bank, the superintendent may, in  his  discretion,  and   shall, upon the request in writing of the holders of said obligations in   default  to  the  amount  of  fifty  thousand  dollars,  forthwith  take   possession of and proceed to liquidate the savings and loan  bank.  Upon   such  liquidation  he  shall  be entitled in the name of the savings and   loan bank to enforce all of its rights and securities and to collect and   realize upon all of its assets, including all mortgages assigned to  the   savings  and  loan  bank  by its several members, and deposited with the   comptroller of the state of New York, up to the amounts advanced by  the   savings  and  loan  bank  to  the several members thereon. Upon any such   liquidation all said  obligations  then  issued  and  outstanding  shall   forthwith  become  due  and  payable  equally and ratably out of all the   assets of the savings and loan  bank  in  advance  of  any  other  debts   thereof not specifically preferred by law.
NY Banking L § 438 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 438 - Surplus Account.

§ 438.  Surplus account. 1. The savings and loan bank shall accumulate   from its profits a surplus account by carrying thereto  annually  a  sum   equal  to  one-half of one per centum of its capital, until such surplus   account shall be equal to at least fifteen per centum of its capital.2. The guaranty fund on June thirtieth, nineteen  hundred  thirty-nine   shall  be  transferred  to  the surplus account and shall constitute the   surplus account at that date.
NY Banking L § 439 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 439 - Membership; Liability; Transfer of Shares.

§ 439. Membership; liability; transfer of shares. 1. Membership in the   savings and loan bank shall be limited to savings and loan associations,   except,  that  the  directors of the savings and loan bank may, in their   discretion, permit federal savings and loan associations located in this   state to be or become members of the savings and loan bank. Every member   shall pay one hundred dollars for each  share  of  the  capital  of  the   savings and loan bank issued to it.2.  Members  of  the  savings  and loan bank shall not be individually   liable for the payment of its debts.3. Shares shall not be transferable, except that a  member,  which  is   not  liable  to  the savings and loan bank for any direct obligation may   transfer its shares therein to another savings and loan association,  by   and  with  the consent of the board of directors of the savings and loan   bank; or it may retire from membership and receive back such sums as  it   has paid for its shares, upon giving one year's notice in writing to the   savings  and  loan  bank  of  such intention, provided, however, that no   withdrawal shall be permitted by the board  of  directors,  which  shall   reduce  the  total  amount  of  the capital of the savings and loan bank   below five hundred thousand dollars. The  board  of  directors  may,  in   their  discretion, waive such notice, in the event of the liquidation of   any member, and pay back such sums as it has paid for  its  shares  even   though  such  payment should result in a reduction of capital below five   hundred thousand dollars. Any member liable to the savings and loan bank   for any direct obligation which holds shares in  excess  of  the  number   required  by the by-laws of the savings and loan bank, may transfer such   excess shares to another savings and loan association, by and  with  the   consent  of  the  board of directors of the savings and loan bank; or it   may, by and with the consent of the board of directors  of  the  savings   and  loan bank, withdraw such excess shares and receive back such sum as   it has paid for such excess shares, upon giving  one  year's  notice  in   writing  to  the  savings  and  loan  bank  of such intention, provided,   however, that no withdrawal of shares shall be permitted by the board of   directors, which shall reduce the total amount of  the  capital  of  the   savings and loan bank below five hundred thousand dollars.
NY Banking L § 440 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 440 - Commissions and Payment of Expenses.

§ 440.  Commissions and payment of expenses. The savings and loan bank   may charge each member an annual commission, not to exceed  one-half  of   one  per  centum,  upon  the  outstanding  bonds and notes issued in its   behalf, provided, however, that the rate of commission in any year shall   be the same on  all  outstanding  obligations  in  respect  to  which  a   commission  is  charged;  or  in  lieu  of charging such commissions the   expenses incurred on account of any such obligations may be  charged  to   the member on whose behalf such obligations are issued.
NY Banking L § 441 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 441 - Qualifications and Disqualification of Directors; Oath of Directors.

§ 441.  Qualifications  and  disqualification  of  directors;  oath of   directors. 1. At least three-fourths of the directors of the savings and   loan bank must reside in the state of New  York  during  their  term  of   office,  and  all must be citizens of the United States. No person shall   be elected a director unless he is the owner in good faith  and  in  his   own  right  on  the  books  of  a member savings and loan association of   shares having a book value of not less than two hundred dollars and  has   been  nominated  by  such  member  savings and loan association for that   office; and every person elected  to  be  a  director  who,  after  such   election,  shall hypothecate, pledge or cease to be the owner in his own   right of such qualifying shares shall cease to  be  a  director  of  the   savings and loan bank, and his office shall be vacant.2.  Each  director, when appointed or elected, shall take an oath that   he will, so far as the duty devolves upon him, diligently  and  honestly   administer  the  affairs  of  the  savings  and  loan bank, and will not   knowingly violate, or willingly  permit  to  be  violated,  any  of  the   provisions  of  law  applicable  to  such corporation and that he is the   owner in good faith and in his own right on the books of the savings and   loan association which nominated him of shares having a book  value  not   less than two hundred dollars, and that the same is not hypothecated, or   in  any  way  pledged  as  security for any loan or debt and, in case of   re-election that such shares were not hypothecated or in any way pledged   as security for any loan or debt during his  previous  term.  Such  oath   shall  be subscribed by the directors making it, certified by an officer   authorized by law to administer oaths, and  immediately  transmitted  to   the superintendent.
NY Banking L § 442 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 442 - Number of Directors; Filling of Vacancies; Change of Number.

§ 442. Number of directors; filling of vacancies; change of number. 1.   The  number  of directors of the savings and loan bank shall be not less   than seven nor more than fifteen.2. All vacancies in the office of director shall be filled by election   by the members  except  as  provided  in  this  section.  Vacancies  not   exceeding  one-third  of  the whole number of the board may be filled by   the affirmative vote of a majority of the directors then in office,  and   the directors so elected may hold office until such vacancies are filled   by  the  members  at a special or annual election; or when the number of   directors is nine or more, two vacancies may, with the  consent  of  the   superintendent, be left unfilled until the next annual election.3.  The  number of directors may be changed within the limits provided   in subdivision one of this section by amendment of the by-laws.