reglab/housing_qa huggingface dataset:
NY Banking L § 498 (2021)
2021 New York Laws BNK - Banking Article 11-B - Sales Finance Companies 498 - Complaints.

§ 498.  Complaints.  1.  Any  buyer having reason to believe that this   article, or any other law regulating retail instalment sales, contracts,   obligations or credit agreements, has been violated by  any  person  may   file  with  the  superintendent  a  written  complaint setting forth the   details of such alleged violation. Upon receipt of such  complaint,  the   superintendent,  or  any  person duly designated by him, may inspect the   pertinent books, records, letters and contracts of any licensee, and  of   any  retail  seller  or other person involved, relating to such specific   written complaint.2. The superintendent or any person duly designated by him, shall have   the power to hold hearings upon such complaints  and  to  determine  the   time  and  place  in  this  state,  reasonably convenient to the parties   involved, where they shall be held.3. The superintendent shall make findings on any complaint on which  a   hearing has been held. The investigation, notice and hearing shall be in   accordance  with  the  provisions  of  this  article and one copy of the   findings shall be given to each such person involved in the complaint.4. No licensee or other person shall  be  subject  to  examination  or   investigation  by the superintendent except as provided in this article.   The  superintendent  shall  have  only  such  powers  as  are  expressly   delegated to him by this article.
NY Banking L § 498-B (2021)
2021 New York Laws BNK - Banking Article 11-B - Sales Finance Companies 498-B - Regulations and Rulings.

§ 498-b.  Regulations  and  rulings.  The  superintendent of financial   services is hereby authorized and empowered to make such  general  rules   and  regulations, and such specific rulings, demands and findings as may   be necessary for the proper  conduct  of  the  business  authorized  and   licensed under and for the enforcement of this article.
NY Banking L § 499 (2021)
2021 New York Laws BNK - Banking Article 11-B - Sales Finance Companies 499 - Violations and Penalties.

§ 499.   Violations   and   penalties.  Any  person  who  violates  or   participates in the violation of any provision of this article,  or  who   knowingly  makes  any  incorrect  statement  of  a  material fact in any   application, report or statement filed pursuant to this article, or  who   knowingly  omits  to  state  any  material  fact  necessary  to give the   superintendent any information lawfully required by him  or  refuses  to   permit  any  lawful  investigation  or examination, shall be guilty of a   misdemeanor and, upon conviction, shall be  fined  not  more  than  five   hundred  dollars  or imprisoned for not more than six months or both, in   the discretion of the court.
NY Banking L § 501 (2021)
2021 New York Laws BNK - Banking Article 11-B - Sales Finance Companies 501 - Repeal of Inconsistent Acts.

§ 501.  Repeal  of  inconsistent  acts.  All  acts  and  parts of acts   inconsistent with this article are hereby repealed to the extent of such   inconsistency.
NY Banking L § 502 (2021)
2021 New York Laws BNK - Banking Article 11-B - Sales Finance Companies 502 - Severability.

§ 502.   Severability.  If  any  provision  of  this  article  or  the   application thereof to any person or circumstance is held invalid,  such   invalidity  shall  not  affect  the  remainder  of  this  article or the   application of such provision to other persons or other circumstances.
NY Banking L § 507 (2021)
2021 New York Laws BNK - Banking Article 12 507 - Limited Liability Investment Companies.

§ 507. Limited liability investment companies. 1. Investment companies   which  (a)  do not accept or maintain credit balances or deposits in the   United States, (b) do not engage in any business activity in the  United   States  except as an incident to their international or foreign business   or  operations,  and  (c)  conduct  business  in  compliance  with   the   provisions  of  this  chapter,  may  be  formed  and operated as limited   liability  investment  companies.  Such  limited  liability   investment   companies   shall  be  formed  in  accordance  with,  shall  operate  in   compliance with, and shall meet all of the requirements of  the  limited   liability  company  law  and this chapter, except that to the extent any   provision of the limited liability company  law  shall  be  inconsistent   with  the  provisions  of  this  chapter, the provisions of this chapter   shall govern;  provided,  however,  that  limited  liability  investment   companies shall not have perpetual existence.2.  Notwithstanding  any  other  provision  of this chapter, a limited   liability investment company shall dissolve and  its  affairs  shall  be   wound  up  upon  the  occurrence of any event specified in section seven   hundred  one  of  the  limited  liability  company  law.  Upon  such   a   dissolution,  the provisions of this chapter shall govern the winding up   of the affairs of the  limited  liability  investment  company  and  the   distribution  of  its  assets.  Further, upon such a dissolution, if the   members of a limited liability investment company wish to  continue  the   existence  of  the  company  and  meet the requirements of section seven   hundred one of the limited liability company law, they shall  apply  for   and may receive the approval of the superintendent for a new articles of   organization and new authorization certificate.3.  For  a  period  of  one  year following the effective date of this   section, investment companies which have been formed and  are  operating   pursuant  to  this  article  and  article fifteen of this chapter on the   effective date of this section,  and  which  meet  the  requirements  of   subdivision  one  of  this  section,  may convert into limited liability   investment companies provided they meet all of the other requirements of   this chapter as if they were newly formed companies and subject  to  the   approval of the superintendent of financial services.4.  The superintendent is hereby authorized and empowered to make such   general rules  and  regulations  as  may  be  necessary  and  proper  to   effectuate  the provisions of this chapter relating to the formation and   operation of limited liability investment companies.
NY Banking L § 509 (2021)
2021 New York Laws BNK - Banking Article 12 509 - Restrictions on Powers of Investment Companies.

§ 509.  Restrictions  on powers of investment companies. An investment   company shall not:1. Exercise within this state the powers conferred by subdivision  two   of  section  five  hundred eight of this chapter, unless it shall have a   paid-up capital stock of at least two million dollars.2. Deposit any of its funds with any other moneyed corporation  unless   such  other corporation has been designated as such depositary by a vote   of a majority of the directors of the investment company,  exclusive  of   any director who is an officer, director or trustee of the depositary so   designated;  provided,  however, that this limitation shall not apply to   the deposit of funds by  an  investment  company  with  another  moneyed   corporation,  which  owns all or a majority of the capital stock of such   investment company.3. Be the holder of any shares of its own capital  stock  unless  such   stock  shall  have  been  taken  to  prevent loss upon a debt previously   contracted in good faith, and stock so acquired shall, within six months   from the time of its acquisition, be sold or disposed of  at  public  or   private  sale;  nor  shall  it,  either directly or indirectly, make any   discount to any person for the purpose of enabling him  to  pay  for  or   hold  shares of its stock either subscribed for or purchased by him. Any   investment company making any such discount shall forfeit to the  people   of the state twice the amount of such discount.4.  Except  as provided in section five hundred eight of this article,   engage in the business of receiving deposits;  provided,  however,  that   nothing  contained  in  this article shall prevent an investment company   from maintaining for the account of others  credit  balances  incidental   to,  or  arising  out  of,  the  exercise  of its lawful powers, but the   superintendent of financial services shall have power to  prescribe,  by   specific  or general regulation, the extent to which, and the conditions   upon which, such credit balances may be established, maintained and paid   out.
NY Banking L § 510 (2021)
2021 New York Laws BNK - Banking Article 12 510 - Restrictions as to Entries in Books.

§ 510.  Restrictions  as to entries in books. 1. No investment company   shall by any system of accounting or any device of bookkeeping, directly   or indirectly enter any of its assets upon its books in the name of  any   other    individual,    partnership,   unincorporated   association   or   corporation, or under  any  title  or  designation  that  is  not  truly   descriptive thereof.2.  Every  investment company shall conform its methods of keeping its   books and records to such orders in respect thereto as shall  have  been   made and promulgated by the superintendent pursuant to the provisions of   article  two  of  this  chapter.  Any investment company that refuses or   neglects to obey such order shall be subject to a penalty in  an  amount   as  determined  pursuant  to section forty-four of this chapter for each   day it so refuses or neglects.
NY Banking L § 511 (2021)
2021 New York Laws BNK - Banking Article 12 511 - Change of Location; Change of Designation of Principal Office.

§ 511.  Change of location; change of designation of principal office.   Any  investment  company  may  make  a  written   application   to   the   superintendent,  such  application to be accompanied by an investigation   fee as prescribed pursuant to section eighteen-a of  this  chapter,  for   leave  to  change  its place or one of its places of business to another   place or for leave to change the designation of its principal office  to   a  branch  office  and  to  change  the designation of one of its branch   offices to its principal office. The application shall state the reasons   for such proposed change, and shall  be  accompanied  by  a  copy  of  a   resolution  authorizing  the  making  of the application, certified by a   principal officer of the investment company to have been adopted by vote   of a majority of its entire board of directors. If the proposed place of   business is within the limits of the village, borough or city, if  in  a   city not divided into boroughs, in which the place of business sought to   be changed is located, such change may be made upon the written approval   of  the  superintendent;  if  beyond such limits, notice of intention to   make such application, signed by a principal officer of the corporation,   shall be published once a week for two successive weeks in  a  newspaper   to  be  designated  by the superintendent for the purpose, in accordance   with  the  provisions  of  article  two  of   this   chapter.   If   the   superintendent shall grant his or her certificate authorizing the change   of  location, as provided in article two of this chapter, the investment   company may, upon or after the day specified in the certificate,  remove   its property and effects to the location designated therein.Anything contained in this chapter to the contrary notwithstanding, an   investment company to which the provisions of subdivision two of section   thirty-six  of  this chapter are inapplicable may change the location of   its place or one of its places of  business  to  another  place  or  may   change  the  designation  of its principal office to a branch office and   change the designation of one of its branch  offices  to  its  principal   office,  without  applying or obtaining authorization therefor under the   provisions of this section or article two of this chapter, but  no  such   change  shall  be  made  by  an  investment  company until it shall have   notified the superintendent in writing of the new  location  or  of  the   change of designation of its principal office.If the newly designated principal office be in a different county than   the county in which the principal office is located immediately prior to   the  change, the superintendent shall file in the office of the clerk of   each such county a certificate stating that such change has been made by   the investment company.
NY Banking L § 512 (2021)
2021 New York Laws BNK - Banking Article 12 512 - Communications From Department of Financial Services Must Be Submitted to Directors and Noted in Minutes.

§ 512.  Communications  from  department of financial services must be   submitted  to  directors  and   noted   in   minutes.   Every   official   communication  as  defined in article two of this chapter directed to an   investment company or to any officer thereof shall be submitted, by  the   officer  receiving  it, to the board of directors at the next meeting of   such board, and duly noted in the minutes of the meetings of such board.
NY Banking L § 513 (2021)
2021 New York Laws BNK - Banking Article 12 513 - Reports to Superintendent.

§ 513.  Reports to superintendent. On or before the first day of April   in each year, every investment company shall make a  written  report  to   the superintendent of financial services which shall contain a statement   of its condition on the morning of the first day of January in said year   and  shall  be  in  the  form  and contain the matters prescribed by the   superintendent. The  superintendent  may,  however,  in  his  discretion   accept  from  an  investment  company  which  has  branches in a foreign   country or countries, a report containing a statement of  its  condition   as  of  a  date  not later than the first day of January and not earlier   than the first day of November in the preceding year. Every such  report   shall be subscribed and affirmed as true under the penalties of perjury,   according  to  the  best  of  their  knowledge  and  belief,  by the two   principal officers of  the  investment  company  at  the  time  of  such   subscription,  and shall state that the usual business of the investment   company has been transacted at the location  or  locations  required  by   this article and not elsewhere.Every  such  investment  company  shall  also  make such other special   reports to the superintendent as he may from time to time require, which   shall be in such form and filed at such date as may be prescribed by the   superintendent and shall, if required by him, be subscribed and affirmed   as true under the penalties of perjury.
NY Banking L § 514 (2021)
2021 New York Laws BNK - Banking Article 12 514 - Liability of Investment Company for Assessments by Superintendent.

§ 514.   Liability   of   investment   company   for   assessments  by   superintendent.    When  the  superintendent,  pursuant  to  the  powers   conferred  on  him by article two of this chapter, shall have levied any   assessment upon any investment company and shall have duly notified such   investment company of the amount thereof, the amount so  assessed  shall   become  a  liability  of and shall be paid by such investment company to   the superintendent.
NY Banking L § 515 (2021)
2021 New York Laws BNK - Banking Article 12 515 - Preservation of Records of Investment Company.

§ 515. Preservation of records of investment company. Every investment   company  shall  preserve all its records of final entry, including cards   used under the card system and deposit tickets, for a period of at least   six years from the date of making the same or from the date of the  last   entry  thereon;  provided,  however,  that  preservation of photographic   reproduction thereof or records in photographic  form  shall  constitute   compliance with the requirements of this section.
NY Banking L § 516 (2021)
2021 New York Laws BNK - Banking Article 12 516 - Restrictions on Officers, Directors and Other Employees.

§ 516.  Restrictions  on  officers,  directors and other employees. No   officer, director, clerk or other employee of  any  investment  company,   and  no  person  in any way interested or concerned in the management of   its affairs, shall as individuals discount, or directly  or  indirectly,   make  any  loan  upon any note or other evidence of debt, which he shall   know to have been offered for discount to such corporation, and to  have   been refused. Every person violating the provisions of this subdivision,   shall,  for  each  offense, forfeit to the people of the state twice the   amount of the loan which he shall have made.No executive officer or  director  of  any  investment  company  shall   borrow,  directly or indirectly, from such investment company any sum of   money  if  the  transaction  would  not  be  permissible   pursuant   to   subdivision  eight  of  section one hundred three of this chapter in the   case of an executive officer or director, as the case may be, of a  bank   or trust company.Vacancies in the board of directors occasioned by resignations, deaths   or  other  cause  shall  be  reported  by each investment company to the   superintendent within ten days  after  the  event;  and  the  investment   company  shall  likewise  report each election by the board to fill such   vacancy with the name, address and occupation of the person elected  and   the name of the person whose place he fills.
NY Banking L § 517 (2021)
2021 New York Laws BNK - Banking Article 12 517 - How Net Earnings Credited for Dividend Purposes, Credits to Surplus Fund and to Undivided Profits, Dividends to Stockholders.

§ 517.  How  net  earnings  credited for dividend purposes, credits to   surplus fund and to undivided profits, dividends to  stockholders.  When   the net earnings of an investment company having preferred shares issued   and  outstanding have been determined at the close of a dividend period,   if the surplus fund does not equal twenty per centum of  the  investment   company's  capital,  one-tenth of such net earnings shall be credited to   the surplus fund, or so much thereof, less than one-tenth, as will  make   such  fund  equal twenty per centum of such capital. The balance of such   net earnings, or the entire amount thereof  if  such  fund  equals  such   twenty  per  centum,  may be credited to the investment company's profit   and loss account; or, if its  expenses  and  losses  for  such  dividend   period  exceed  its  gross earnings, such excess shall be charged to its   profit and loss account.  The  credit  balance  of  such  account  shall   constitute  the  undivided profits at the close of such dividend period,   which undivided profits shall be available for dividends.The directors of any investment company may annually, semi-annually or   quarterly, but not more frequently, declare such dividends as they shall   judge expedient from such undivided profits; provided, however, that the   directors of any such company may declare a dividend in the  last  month   of  the fiscal year of such company, in lieu of any other semi-annual or   quarterly declaration in the same fiscal  year.  No  investment  company   shall declare any dividends to its stockholders until it shall have made   good   any   existing   impairment  of  its  capital  and  any  existing   encroachment on its reserves required to be maintained against deposits.
NY Banking L § 520 (2021)
2021 New York Laws BNK - Banking Article 12 520 - Savings Clause.

§ 520.  Savings  clause.  Nothing  in  this article contained shall be   deemed to require the  reincorporation  of  any  corporation  heretofore   organized under the provisions of article seven of chapter three hundred   and  sixty-nine  of  the laws of nineteen hundred fourteen, entitled "An   act in relation to banking corporations, and individuals,  partnerships,   unincorporated  associations  and  corporations under the supervision of   the banking department," constituting chapter two  of  the  consolidated   laws,  or under the provisions of said article seven of said chapter two   of the consolidated laws, or under the provisions of said article  seven   of  said  chapter  as  amended,  nor  to  alter  or  affect  any rights,   privileges, powers, benefits, or immunities granted to such corporations   by the provisions of any law of this state. Such corporations shall have   all of the rights, privileges, powers, benefits and immunities  provided   by  any  laws of this state with the same effect as if such corporations   were referred to in such laws as organized under this  article;  and  no   further  amendment  to  any  such  laws  shall  be required to give such   corporations such rights, privileges, powers, benefits  and  immunities.   Except  as in this article otherwise provided such corporations shall be   subject to all of the obligations and  duties  of  investment  companies   organized  under  the  provisions of this article, and such corporations   shall  have  all  of  the  rights,  privileges,  powers,  benefits   and   immunities by this article granted to such companies.
NY Banking L § 550 (2021)
2021 New York Laws BNK - Banking Article 12-A - Mutual Trust Investment Companies 550 - Incorporation; Organization Certificate.

§ 550. Incorporation; organization certificate. When authorized by the   superintendent  as provided in article two of this chapter, five or more   persons may form a corporation to be known as a mutual trust  investment   company.  Such persons shall subscribe and acknowledge and submit to the   superintendent  at   the   superintendent's   office   an   organization   certificate in duplicate which shall specifically state:1.  The  name  by  which  the mutual trust investment company is to be   known and the investment purpose of its formation  under  the  following   section five hundred fifty-one.2. The place where its principal office is to be located.3. The amount of its capital stock and the number of shares into which   such capital stock shall be divided.4.  The  full  name,  residence and post-office address of each of the   incorporators and the number of shares subscribed for by each.5. The term of its existence, which may be perpetual.6. The number of its directors, which shall not be less than five  and   the  names and addresses of the persons who shall be its directors until   the first annual meeting of stockholders.Such certificate may provide for the manner in which the stock of  the   corporation may be transferred and for the number of directors necessary   to constitute a quorum.When  the  superintendent  shall  have  endorsed  his  approval on the   organization certificate as provided in article two of this chapter, the   corporate existence shall begin.
NY Banking L § 551 (2021)
2021 New York Laws BNK - Banking Article 12-A - Mutual Trust Investment Companies 551 - Investment Powers.

§ 551. Investment powers. A mutual trust investment company may invest   in such investments as the company may select in its discretion.The amount of stock of any corporation which may be held by any mutual   trust  investment company shall not exceed five per centum of the number   of shares of stock of  such  corporation  outstanding  at  the  time  of   investment by such mutual trust investment company.
NY Banking L § 552 (2021)
2021 New York Laws BNK - Banking Article 12-A - Mutual Trust Investment Companies 552 - Accountability.

§ 552.  Accountability. A mutual trust investment company shall not be   responsible for ascertaining the investment powers of any fiduciary  who   may  purchase its stocks or shares and shall not be liable for accepting   funds from a fiduciary in violation of the  restrictions  in  any  will,   deed  or  other  instrument  in  the absence of actual knowledge of such   violation, and shall be accountable only to the fiduciaries who are  the   owners of its stocks or shares.