reglab/housing_qa huggingface dataset:
NY Banking L § 379-B (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 379-B - Service Corporation Owned by Associations; Authorized Activities of Such Corporation; Investment Therein.

§ 379-b.   Service   corporation  owned  by  associations;  authorized   activities of such corporation; investment therein.  1.  A  savings  and   loan  association  may invest in the stock, capital notes and debentures   of a service corporation organized under the laws of this state for  the   sole  activities  set  forth  in subdivision two of this section, to the   extent and upon such conditions as are or have been  authorized  by  the   superintendent  of financial services, provided that all of the stock of   such service corporation is, or is to be, owned by one or  more  savings   and  loan  associations;  and provided further, that no savings and loan   association may make any investment under this section if its  aggregate   outstanding   investment   thereby,  determined  as  prescribed  by  the   superintendent of financial services, would thereupon exceed  three  per   centum of its assets.2.  The  activities of such service corporation, performed directly or   through  one  or  more  wholly  owned  subsidiaries,  shall  consist  of   rendering such services to savings and loan associations and making such   investments  for  itself  and  for  savings and loan associations as are   authorized services and investments  for  such  associations  under  the   provisions  of  this  chapter  as  well  as  such  activities  as may be   prescribed by general regulation  of  the  superintendent  of  financial   services.
NY Banking L § 380-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-A - Power to Purchase Mortgage, Loan or Investment.

§ 380-a.  Power  to  purchase mortgage, loan or investment. Subject to   such regulations and restrictions as  the  superintendent  of  financial   services  may prescribe therefor, an association may acquire by purchase   any mortgage, loan or invetsment which by the provisions of this article   it is authorized to make and hold.
NY Banking L § 380-B (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-B - Power to Purchase Mortgages From Mortgage Holders.

§ 380-b.  Power to purchase mortgages from mortgage holders. A savings   and loan association may purchase from mortgage holders;  (1)  any  bond   and  mortgage  insured  or  guaranteed  by  the  United  States  or  any   instrumentality thereof, or for which there is a commitment to so insure   or guarantee, or (2) provided the mortgage is a first lien, any bond and   mortgage at least twenty per centum of which is guaranteed  pursuant  to   the  provisions  of  the  act  of  congress  entitled  the "Servicemen's   Readjustment Act of 1944". A savings and loan  association  may  receive   and hold such debentures as are issued in payment of any such insurance.   No  law  of  this  state  prescribing or limiting the interest rate upon   loans or advances of credit  or  prescribing  a  penalty  for  violation   thereof  or  prescribing  the  nature,  amount  or  form  of security or   requiring security upon which loans or advances of credit may be made or   prescribing or limiting the period for which loans or advances of credit   may be made or limiting the amount of any class of  loans,  advances  of   credit or purchases which may be made shall be deemed to apply to loans,   advances  of  credit  or purchases made or to loans acquired by purchase   pursuant to this subdivision.
NY Banking L § 380-C (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-C - Power to Participate in Certain Loans and Mortgage Investments.

§ 380-c.   Power   to   participate  in  certain  loans  and  mortgage   investments.  Subject to such regulations and  restrictions  as  may  be   prescribed  by  the  superintendent of financial services, a savings and   loan association may participate in making or acquiring (1) loans  of  a   type  that  it is authorized to have by paragraph (b) of subdivision two   of section three hundred  eighty  of  this  chapter,  and  (2)  mortgage   investments of any type that it is authorized to have, provided that the   participation  acquired  shall  not  be  subordinate  to  any other part   interest.
NY Banking L § 380-E (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-E - Effect of Usury.

§ 380-e.  Effect of usury. The knowingly taking, receiving, reserving,   or charging by a savings and loan association of interest,  as  computed   pursuant  to  this article, at a rate greater than such rate of interest   as may be authorized by law shall be held and adjudged a  forfeiture  of   the  entire  interest  which  the note or other evidence of debt carries   with it, or which has been agreed to be paid thereon.  If  such  greater   rate  of interest has been paid, the person paying the same or his legal   representatives may recover from the savings and loan association  twice   the  entire  amount  of  the interest thus paid. Nothing in this section   shall be deemed to affect the powers of any savings and loan association   with respect to loans or investments it is authorized to make.
NY Banking L § 380-F (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-F - Power to Make Advances of Federal Funds.

§ 380-f.  Power  to make advances of federal funds. A savings and loan   association may make advances of  federal  funds  to  commercial  banks,   provided  such advances are made on the condition that they be repaid on   the next business day following the day on which the  advance  is  made.   For  purposes  of this section the term "federal funds" shall mean funds   which a savings and loan association has on deposit at a commercial bank   which are exchangeable for funds on deposit at a federal  reserve  bank;   the  term  "commercial bank" shall mean any bank, trust company, private   banker, national banking association, having  its  principal  office  in   this  state; and the term "business day" shall mean any day on which the   savings and loan  association,  the  commercial  bank  and  the  federal   reserve  bank  where  the  funds are on deposit are all open for general   business.
NY Banking L § 380-G (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-G - Power to Engage in Line of Credit Financing of Residential Real Estate.

§ 380-g.  Power  to  engage in line of credit financing of residential   real estate. A savings and loan association is authorized to  invest  an   amount, not exceeding the lesser of (a) ten per centum of the sum of its   surplus,  undivided  profits,  and reserves or (b) one per centum of its   assets, in loans or in interests therein the principal purpose of  which   is to provide financing with respect to what is or is expected to become   primarily  residential  real  estate  within  this  state, where (i) the   association relies substantially for repayment on the borrower's general   credit standing, with or without other security, or (ii) the association   relies on other assurances for repayment, including but not limited to a   guaranty or similar obligation of a third party,  and,  in  either  case   described  in  clause  (i)  or  (ii),  regardless  of whether or not the   association takes security.
NY Banking L § 380-H (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-H - Trust Powers.

§ 380-h.  Trust powers. 1. The superintendent of financial services is   authorized and empowered to grant  permission  to  a  savings  and  loan   association  to  exercise any or all of the powers specified in sections   one hundred, one hundred-a, one hundred-b  and  one  hundred-c  of  this   chapter.  In  passing  upon  applications for permission to exercise any   such powers, the superintendent of  financial  services  may  take  into   consideration the amount of surplus of the applying association, whether   or  not  such surplus is sufficient under the circumstances of the case,   the needs of the  community  to  be  served  and  any  other  facts  and   circumstances  that  seem  proper, and may grant or refuse it permission   accordingly.2. Whenever the laws of this state require a trust company acting in a   fiduciary capacity to deposit securities with the state authorities  for   the   protection  of  private  or  court  trusts,  a  savings  and  loan   association, so  acting,  is  empowered  to  make  similar  deposits  of   securities.4.   The   superintendent  of  financial  services  is  authorized  to   promulgate such regulations as he or she may deem necessary or proper to   implement the provisions of this section and the proper exercise of  the   powers granted by this section.
NY Banking L § 380-I (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-I - Personal Loan Departments.

§ 380-i. Personal loan departments. Subject to such regulations as the   superintendent  of  financial services may prescribe, a savings and loan   association may operate a personal loan department under the same  terms   and  conditions  as  are  provided  under  subdivisions four and five of   section one hundred eight of this chapter.The superintendent of financial services shall  be  empowered  (a)  to   prescribe  the  terms and conditions governing the conduct and operation   of personal loan departments including the maximum amount, expressed  as   a   percentage  of  assets  or  otherwise,  which  a  savings  and  loan   association may invest pursuant to the provisions of this subdivision or   in the aggregate, taking into  account  such  other  provisions  of  law   authorizing  investments  by  savings  and  loan associations and (b) to   prescribe such terms and conditions as may be appropriate to  effect  or   facilitate  the  tranfer of accounts operated pursuant to the provisions   of any other section of this chapter to the  personal  loan  departments   authorized to be operated hereunder.In  pursuance  of  the  authority  granted  hereunder savings and loan   associations shall be empowered to issue credit cards, extend credit  in   connection  therewith,  and otherwise engage in or participate in credit   card operations,  and  to  act  as  financing  agencies  as  defined  in   subdivision  nine  of section three hundred one and subdivision eighteen   of section four hundred one of the personal property law.
NY Banking L § 380-J (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-J - Authorization to Acquire and Lease Personal Property.

§ 380-j.  Authorization  to  acquire  and  lease  personal property. A   savings and loan association is authorized to acquire and lease personal   property to the same extent as a commercial bank is authorized to engage   in such activities under subdivision twelve  of  section  ninety-six  of   this chapter, subject to those limitations applicable to such activities   in the case of banks or trust companies.
NY Banking L § 380-K (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-K - Investment in Promissory Notes.

§ 380-k.   Investment   in   promissory  notes.  A  savings  and  loan   association may invest  in  promissory  notes  and  other  evidences  of   indebtedness representing commercial, corporate or business loans to the   same  extent  as  a  savings  bank is authorized to invest in such notes   under subdivision eight-c of section two  hundred  thirty-five  of  this   chapter,  subject to those limitations applicable to such investments in   the case of a savings bank. For the purposes of this section,  the  term   "net worth" shall have the meaning ascribed to it by subdivision four of   section  two hundred forty-four of this chapter.  In addition, a savings   and loan association is authorized to invest in such promissory notes as   a savings bank may invest in pursuant to paragraph five  of  subdivision   eight of section two hundred thirty-five of this chapter.
NY Banking L § 380-L (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-L - Excelsior Linked Deposit Program.

§ 380-l.   Excelsior  linked  deposit  program.  A  savings  and  loan   association may make linked loans, each authorized and approved pursuant   to article fifteen of the state finance law and each in an amount  equal   to a corresponding linked deposit made pursuant to such article, subject   to  the limits of section three hundred eighty-k of this article and any   other applicable limits or requirements imposed by law or regulation.
NY Banking L § 380-M (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 380-M - Water Pollution Control Linked Deposit Program.

§ 380-m. Water pollution control linked deposit program. A savings and   loan  association  may  make  linked loans, each authorized and approved   pursuant to article sixteen of the state finance  law  and  each  in  an   amount  equal  to  a  corresponding linked deposit made pursuant to such   article, subject to the limits of section three hundred eighty-k of this   article and any other applicable limits or requirements imposed  by  law   or regulations.
NY Banking L § 382 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 382 - Power to Borrow.

§ 382.   Power   to   borrow.  Subject  to  such  regulations  as  the   superintendent of financial services may promulgate, a savings and  loan   association  may  borrow money and pledge its assets as security for the   repayment thereof if it has been authorized so to do by the  vote  of  a   majority of its board of directors.
NY Banking L § 382-B (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 382-B - Power to Issue Certain Obligations.

§ 382-b.  Power  to  issue  certain obligations. 1. In addition to all   other powers granted to it by other provisions of  law,  a  savings  and   loan  association  may  issue  such  notes,  bonds, debentures, or other   obligations or other securities as the superintendent may authorize.2. Subject to such regulations and restrictions as the  superintendent   of   financial   services   finds   to   be  necessary  and  proper  and   notwithstanding  any  other  provisions  of  law,  a  savings  and  loan   association  may issue notes, bonds, debentures, or other obligations or   other securities subordinated to  deposits  in  such  savings  and  loan   association;  provided  that,  unless the superintendent has given prior   approval otherwise, the aggregate principal amount thereof at  the  time   of  issuance  shall  not exceed twenty-five per cent of the net worth of   such savings and loan association, exclusive of all such  notes,  bonds,   debentures,  or  other  obligations or other securities. The proceeds or   other consideration derived by a savings and loan association  from  the   issuance  pursuant  to  this  subdivision  of  any  such  notes,  bonds,   debentures, or other obligations or other securities shall be deemed for   purposes of this chapter to constitute a part of the net worth  of  such   savings and loan association. For the purposes of this article, the term   "net  worth"  shall  mean  the  excess  of  assets  at  book value, less   allocated  reserves,   over   known   liabilities,   including   deposit   liabilities.
NY Banking L § 383-A (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 383-A - Rental of Safe Deposit Boxes.

§ 383-a.   Rental   of  safe  deposit  boxes.  Any  savings  and  loan   association may rent to its members safe deposit boxes in which to  keep   personal property and papers of any kind.
NY Banking L § 385 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 385 - Surplus Account.

§ 385.  Surplus  account.  Every  savings  and  loan association shall   accumulate and maintain a surplus account as provided in  section  three   hundred eighty-seven of this article. Such surplus account up to ten per   centum  of  the  association's  capital  shall  not be available for any   purpose, except with the prior written approval of  the  superintendent;   but  any  such  association may: (a) charge against such surplus account   any losses or expenses without such approval  only  in  the  event  such   association  has  no  undivided  profits  against  which  such losses or   expenses may be charged or (b) may, with the prior written  approval  of   the  superintendent,  transfer  any  part of such surplus account to any   other account for any purpose. Such account may be created or  increased   by  contributions  and  by  transfers from undivided profits or from net   profits.
NY Banking L § 386 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 386 - Profits; How and When to Be Computed.

§ 386. Profits; how and when to be computed. 1. Every savings and loan association  shall  close  its  books,  for the purpose of computing its profits, at the end of any period for which a dividend is to be paid and in no event less frequently than quarterly. To determine the  amount  of gross  income  for any such accounting period the following items may be included:  (a) All income received or properly accrued, provided that no interest shall be accrued upon any interest-bearing asset upon which a default of principal or interest has existed for a period which shall be determined by the superintendent, except for  interest-bearing  assets  secured  by collateral  the  ascertained  value  of  which  is at least equal to the amount at which such asset plus all interest accrued thereon is  carried on its books.  (b)  Amounts  added to cost for the purpose of amortizing discounts on securities purchased for less than par, provided that no discount  shall be amortized on securities upon which a default exists.  (c)  Any  profits actually realized from the sale or other disposition of securities, real estate or other property.  (d) Amounts recovered on  assets  previously  charged  off,  including amounts  allowed  by  the superintendent on account of assets previously disallowed by him; and other amounts allowed by the board  of  directors on account of assets previously disallowed by it.  (e)  Provided  the superintendent shall have approved, and only to the extent of such approval, any increase in the  book  value  of  the  real estate  and  building  or  buildings  thereon used by it as its place or places of business.  (f) Such other items as the superintendent,  in  his  discretion,  may permit to be included.   2.  To  determine the amount of net profits for such accounting period the following items shall be deducted from gross income:  (a)  All  expenses  paid  or  properly  accrued,  both  ordinary   and extraordinary, in the transaction of its business, the collection of its debts and the management of its affairs.  (b) Interest paid or properly accrued upon time deposits held pursuant to  section three hundred seventy-eight-a of this article, interest paid or properly accruing upon deposits referred to in section three  hundred seventy-eight-b of this article and debts owing by it.  (c)  Amounts deducted from cost for the purpose of amortizing premiums on securities purchased for more than par.  (d) Any losses sustained by it except to the extent that  such  losses have  been charged against the surplus account or valuation reserves. In the computation of such losses there shall be  included  all  deductions from  the  book  value  of  assets made pursuant to the direction of the board of directors or by reason of the disallowance  of  assets  by  the superintendent.  The  balance  thus  obtained  shall  constitute the net profits of such savings and loan association for such period.
NY Banking L § 388 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 388 - Fines and Penalties for Failure to Make Payments on Instalment Shares.

§ 388.  Fines and penalties for failure to make payments on instalment   shares. 1. Where dividends on instalment shares are credited by  series,   a  savings  and  loan  association  may impose fines upon the holders of   instalment shares of a series, their legal representatives or successors   in interest, if they neglect to pay dues, interest or premium when  due,   but  such  fines shall not exceed one per centum per month of the amount   in default for the period during which such dues, interest  and  premium   shall  have  remained  in default, except that a fine at the rate of two   per centum per month of the amount in default may be imposed during  the   first three months of any default.2.  Where  dividends on instalment shares are credited individually to   shares, a savings and loan association  may  declare  a  lower  rate  of   dividend  on  instalment  shares upon which there has been a default for   more than sixty days since the last declaration of  dividends,  provided   that  such  dividend  shall  be  not  less  than sixty per centum of the   dividend declared on like instalment shares not in default.3. Where dues on instalment shares are applied directly  in  reduction   of  a  mortgage loan, a savings and loan association may provide, as one   of the terms of the obligation, that interest may be added to the unpaid   balance of the obligation on the first day of each  month  and  computed   upon  the unpaid balance of the obligation due as of the last day of the   preceding month.4. No fine shall be charged against or deducted from the dues actually   paid by a member and no fines or penalties other than those provided  in   this section shall be imposed for failure to meet payments on instalment   shares.
NY Banking L § 389 (2021)
2021 New York Laws BNK - Banking Article 10 - Savings and Loan Associations 389 - Matured Shares; Conversion Into Shares of Another Class Upon Notice.

§ 389.  Matured  shares;  conversion into shares of another class upon   notice.   Whenever the dues and  dividends  credited  to  instalment  or   accumulative  prepaid  shares shall equal their matured value, notice of   such maturity shall be given to the holders thereof and the  payment  of   dues   thereon  shall  cease.  Such  notice  shall  be  mailed  to  such   shareholder at his last known address as it appears on the books of  the   association  and,  in  the  discretion  of  the  board of directors, may   contain a further provision that if such  shareholder  fails  to  accept   payment  for  such  shares,  convert  such shares into shares of another   class or file an application to withdraw such shares within  sixty  days   after  the  mailing  of  such  notice,  the  same will be converted into   another class of shares specified in such  notice.  If  such  additional   provision  has been included in such notice and the shareholder fails or   neglects to accept payment for such shares,  convert  such  shares  into   shares  of another class or file an application to withdraw such shares,   within such sixty days, the  board  of  directors  may,  by  resolution,   convert  such  shares into the class of shares specified in such notice.   For the purpose of maturing such  shares,  a  special  dividend  may  be   credited  between  regular  dividend dates at the same rate at which the   last  regular  dividend  was  credited.  When  shares  pledged  to   the   association mature, the value of such shares shall, to the extent of the   obligation  for  which  they are pledged, be applied in payment thereof.   Any remaining balance of such shares shall be treated as matured  shares   and  any  other collateral not required to satisfy such obligation shall   be returned.