reglab/housing_qa huggingface dataset:
NY Banking L § 443 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 443 - Amendment of By-Laws.

§ 443.  Amendment  of  by-laws. The by-laws may be altered or amended,   from time to time, provided such alterations or  amendments  shall  have   first  received  the  written  approval  of the superintendent and shall   thereafter have been duly adopted at a meeting of the directors.A copy of any such alteration or  amendment  shall  be  filed  in  the   office of the superintendent within thirty days after such adoption.
NY Banking L § 444 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 444 - Annual Meeting; Notice; Voting.

§ 444.  Annual  meeting;  notice;  voting.  The  annual meeting of the   shareholders for the election of directors shall be held in  January  in   each  year  at a place within the state to be determined by the board of   directors. Notice of the time and place of holding such  election  shall   be  given  by  publication  thereof,  at least once in each week for two   successive weeks immediately preceding such  election,  in  a  newspaper   published  in  the city of New York and by mailing a copy of such notice   postage prepaid to each shareholder of the savings  and  loan  bank  not   less  than  ten  nor  more  than  forty  days before the holding of such   meeting. Each member  shall  be  entitled  to  one  vote,  and  to  such   additional  votes  not exceeding one vote for every share of the capital   standing in its name on the books of the savings and loan  bank  as  the   by-laws  may  prescribe.  Such vote or votes may be cast by mail when so   provided in the by-laws.
NY Banking L § 445 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 445 - Preference of Credits.

§ 445.  Preference  of credits. In case of the insolvency or voluntary   or involuntary liquidation of any bank, trust  company  or  savings  and   loan association, its assets shall be applied in the first place ratably   and  proportionately  to the payment in full of any sum or sums of money   deposited therewith by the savings and loan bank or due to  the  savings   and  loan  bank for subscriptions, sinking funds, interest and principal   of bonds, or guaranty of mortgages, notes secured or  unsecured  or  any   other obligations due to the savings and loan bank, but not to an amount   exceeding  that  authorized  to  be  so  deposited  or contracted by the   provisions of this chapter, and in accordance and on  an  equality  with   any other preference provided for in this chapter.
NY Banking L § 446 (2021)
2021 New York Laws BNK - Banking Article 10-B - Savings and Loan Bank of the State of New York 446 - Exemptions.

§ 446.  Exemptions. The bonds and notes issued by the savings and loan   bank and the savings and loan bank itself, together  with  its  capital,   accumulations  and funds, shall have the same exemption from taxation as   other institutions for savings. No law which taxes corporations  in  any   form,  or  the  shares  thereof,  or the accumulations therein, shall be   deemed to include the savings and loan bank or its issues  of  bonds  or   notes unless they are specifically named in such law.
NY Banking L § 447 (2021)
2021 New York Laws BNK - Banking Article 10-C - Mutual Holding Companies 447 - Authorization of the Formation of Mutual Holding Companies.

§ 447.  Authorization of the formation of mutual holding companies. 1.   Notwithstanding any other  provision  of  law  and  in  accordance  with   general regulations which the superintendent of financial services shall   promulgate to facilitate such reorganizations, a mutual savings and loan   association  may reorganize so as to cause its deposit-taking and one or   more other activities to be  conducted  by  a  stock  savings  and  loan   association  subsidiary  of  a  mutual  holding  company formed for such   purpose upon the payment of a fee  as  prescribed  pursuant  to  section   eighteen-a of this chapter.2.  Except  to  the  extent that such provisions are inconsistent with   this article, the stock savings and loan association subsidiary  of  the   mutual  holding  company shall be subject to the same provisions of this   chapter as apply to savings and loan associations which  have  converted   to stock form pursuant to sections fourteen-e and nine thousand nineteen   of this chapter.
NY Banking L § 447-D (2021)
2021 New York Laws BNK - Banking Article 10-C - Mutual Holding Companies 447-D - Conversion of Mutual Holding Company Into Stock Holding Company.

§ 447-d.  Conversion  of  mutual  holding  company  into stock holding company. 1. If approved by the superintendent, a mutual holding  company may  convert  to  a  stock  holding  company  in accordance with general regulations promulgated by the superintendent of financial services.   2. If approved by the superintendent, the mutual holding company shall submit the plan of conversion to its  shareholders  for  approval  at  a meeting  convened  for that purpose in accordance with such regulations. The provisions of paragraphs (a), (b), (c) and (d) of subdivision  three of  section  four  hundred  forty-seven-a of this article shall apply to such  meeting.  For  the  purpose  of   this   subdivision,   the   term "shareholders"  shall  mean those shareholders as of a record date, of a stock savings and loan association  subsidiary  of  the  mutual  holding company which:  (a)  was  organized  as  a  result  of  the reorganization of a mutual savings and  loan  association  as  provided  in  section  four  hundred forty-seven of this article; and  (b)  has  not  at  any time subsequent to its organization issued more than forty-nine per centum of its issued and outstanding common stock to any persons other than a mutual holding company  organized  pursuant  to this  article  or the savings and loan holding company provisions of the Home Owners Loan Act (title twelve United States Code Section 1467a).
NY Banking L § 450 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 450 - Incorporation; Organization Certificate.

§  450.  Incorporation; organization certificate.   When authorized by   the superintendent as provided in article two of this chapter, seven  or   more  persons  employed  or residing in the state of New York may form a   corporation to be known as a credit union, which may include a corporate   credit union or a credit union. The provisions  of  this  article  shall   apply  to a corporate credit union or a credit union except as otherwise   provided.  Such persons shall subscribe and acknowledge  and  submit  to   the   superintendent  at  his  office  an  organization  certificate  in   duplicate which shall specifically state:1. The name of the corporation which shall include the  words  "credit   union."2.  The place where its business is to be transacted. If the condition   of membership is employment  of  its  members  by  certain  individuals,   partnerships  or  corporations,  the  place  of  business  of  any  such   individual, partnership or corporation may be stated  as  the  place  of   business of such credit union.3. The par value of the shares.4.  The  full  name,  residence and post office address of each of the   incorporators.  These incorporators may serve  as  directors  until  the   first  annual  meeting  of  shareholders.   The organization certificate   shall also indicate which of the incorporators will serve  as  directors   until such meeting.5. Its duration if other than perpetual.
NY Banking L § 450-A (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 450-A - Designation of Low Income Credit Union.

§  450-a.  Designation  of  low income credit union. 1. A credit union   organized under this article may be designated as a  low  income  credit   union as defined in subdivision five of this section.2.  A  credit  union,  including a credit union in formation, may make   written application to the superintendent to  be  designated  as  a  low   income   credit   union.   If   the  superintendent  shall  find,  after   investigation, that such credit union meets  the  definition  of  a  low   income  credit  union,  as  set  forth  in this section, he or she shall   approve such designation.3. Notwithstanding any other provision of this article, a  low  income   credit  union  may  issue shares, share drafts and share certificates to   nonmembers  who  or  which  may  be   natural   persons,   corporations,   partnerships or other legal entities.4.  Except as provided in this section, all provisions of this chapter   shall be applicable to low income credit unions.5. As used in this section, the term "low income credit  union"  shall   mean  a  credit  union in which a majority of the members: (a) make less   than eighty percent of the average for all wage earners  as  established   by  the  bureau  of  labor statistics of the United States department of   labor or have annual household incomes that  fall  at  or  below  eighty   percent  of the median household income for the nation as established by   the United States census bureau;  or  (b)  are  residents  of  a  public   housing project who qualify for such residency because of low income; or   (c)  qualify to receive benefits from any program designed to assist the   economically disadvantaged. The superintendent of financial services may   promulgate regulations appropriate to the formation and operation of low   income credit unions.6. A credit union's designation as a low income credit  union  may  be   removed   by   the  superintendent  if  he  or  she  shall  find,  after   investigation, that such credit union no longer meets the definition  of   a low income credit union as set forth in this section. Upon such a loss   of  designation,  such  credit  union  shall  no longer be authorized to   exercise the powers set forth in this section but shall  remain  subject   to  all  of  the  other  provisions of this chapter applicable to credit   unions generally.
NY Banking L § 450-B (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 450-B - Designation of Student Branches.

§  450-b.  Designation of student branches. 1. As used in this section the following terms shall have the following meanings:  (a) "school" shall mean any public or private elementary or  secondary school;  (b) "student" shall mean a child enrolled in a school;  (c) "student branch" shall mean the designation provided to the credit union  pertaining  to  the  in-school  services  and financial education offered to students. A student branch  shall  not  be  deemed  to  be  a station  and  shall  not  be  subject  to  any of the provisions of this article applicable to stations; provided, however, that a  credit  union shall  provide written notice to the superintendent of the establishment of any such student branch.   2. A credit union organized under this article may upon agreement with a school's governing body open and maintain a student branch.   3. Notwithstanding any other provision of  this  article  any  student enrolled in the school maintaining a student branch who is not otherwise qualified  for  membership in the credit union is hereby qualified for a student membership. Said student membership  shall  expire  thirty  days after  the  student's  graduation  from  secondary  school,  transfer to another school or termination of enrollment. The student branch shall be for the express use of the students and may  not  be  used  by  faculty, staff  or  lineal ancestors or descendants of students. Neither faculty, staff nor  lineal  ancestors  or  descendants  of  student  members  are eligible  for  membership in the credit union unless otherwise qualified under this article.   4. The superintendent may promulgate regulations  appropriate  to  the formation and operation of student branches.
NY Banking L § 451 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 451 - Proposed Bylaws.

§   451.  Proposed  bylaws.  The  incorporators  shall  subscribe  and   acknowledge  and  submit  to  the  superintendent  proposed  bylaws,  in   duplicate, which shall prescribe the manner in which the business of the   credit union shall be conducted with reference to the following matters:1. The purposes of the corporation.2. The qualifications for membership.Such  qualifications for membership shall be established in accordance   with the provisions of section four hundred fifty-one-a of this article,   except that such section shall not apply to a corporate credit union.3. The manner of conducting meetings,  the  method  by  which  members   shall  be  notified  of  meetings, and the number of members which shall   constitute a quorum.4. The number of directors, which shall be a number not less than five   nor more than fifteen.5. The term of office of directors.6. The number of directors necessary to constitute a quorum.7. The time, place and manner of holding the annual  and  any  special   meetings of the members of the credit union.8. The officers to be elected from among the board of directors; their   titles, duties and terms of office.9.  Whether one or more loan officers or, in the alternative, a credit   committee shall have the responsibility of passing upon the applications   of members for loans and the powers and duties of the  loan  officer  or   credit  committee  and  the  number  of members, not less than three, of   which the credit committee shall be composed, their term of office,  and   manner of election or appointment.10.  The  powers,  duties,  term  of  office and manner of election or   appointment of the supervisory committee and the number of members,  not   less than three, of which it shall be composed.11.  The  conditions  upon  which  shares  may  be  issued,  paid for,   transferred and withdrawn.12. The fines, if any, which shall be charged for  failure  punctually   to meet obligations to the corporation.13.  The  manner  in  which  dividends shall be determined and paid to   members.14. The manner  in  which  the  funds  of  the  corporation  shall  be   employed.15. The conditions upon which loans may be made and repaid.16. The maximum rate of interest that may be charged upon loans.17.  The  method  of receipting for money paid on account of shares or   loans.
NY Banking L § 452 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 452 - When Corporate Existence Begins; Conditions Precedent to Commencing Business.

§  452.  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 credit union  shall  begin,   and  it  shall  then  have  power to elect officers and to transact such   other business as relates to its organization. But it shall transact  no   other business until the superintendent shall have duly issued to it the   authorization certificate specified in article two of this chapter.
NY Banking L § 455 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 455 - Trust Powers.

§  455.  Trust  powers. 1. The superintendent of financial services is   authorized and empowered to  grant  permission  to  a  credit  union  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 net worth of the applying credit union, whether  or  not  such   net  worth  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 credit union, so acting, is   required and empowered to make similar deposits of securities.3.   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 § 457 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 457 - Capital.

§  457.  Capital.  The  capital of a credit union shall consist of the   payments and dividends credited to shareholders on their shares.
NY Banking L § 458-A (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 458-A - Maintenance of Reserves.

§  458-a.  Maintenance of reserves. A credit union shall contribute to   and maintain such net worth reserve  categories  as  the  superintendent   shall,  by  regulation,  prescribe. Such regulations shall provide for a   system of maintaining net worth reserves that is comparable to  that  of   Title  12  U.S.C. section 1790(d) and any regulations promulgated by the   National Credit Union Administration  thereunder,  except  as  otherwise   deemed   necessary   by   the  superintendent  in  accordance  with  the   declaration of policy set forth in section ten of this chapter.
NY Banking L § 459 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 459 - Allowance for Loan Loss.

§  459.  Allowance  for loan loss.  An allowance for loan loss account   shall be established and maintained in an  amount  that  represents  the   current  estimated  loss  on  loans. The allowance for loan loss account   requirement shall be computed and adjusted, through  the  provision  for   loan loss account, prior to the payment of dividends.The  calculation of this account shall be in accordance with the rules   established by the National Credit Union Administration.
NY Banking L § 460 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 460 - Dividends to Shareholders; Conditions Precedent.

§  460.  Dividends to shareholders; conditions precedent. 1. The board of directors of any credit union may declare a dividend from the  credit union's undivided profits calculated as provided in this article for any period determined by the board of directors.   2. Earnings from all sources for the period for which a dividend is to be  paid, except as provided in section four hundred fifty-eight of this article, may be credited to the profit and loss account  of  the  credit union  and  the following items shall be charged against such account in the determination of the amount available for dividends to shareholders:  (a) All  expenses  paid  or  incurred  by  the  credit  union  in  the management   of  its  affairs,  the  collection  of  its  debts  or  the transaction of its business.  (b) The interest paid or accrued on debts owed by the credit union.  (c) All losses incurred on loans in excess of the allowance  for  loan loss account.  (d)  Any interest collected in advance shall be considered unearned at the end of the fiscal period, and shall  be  set  aside  in  an  account called "unearned interest". The  credit  balance  of  the profit and loss account as thus determined shall constitute the undivided profits of the credit union at the  close of  such  period,  and  shall  be applicable to the payment of dividends except as provided in subdivision three of this section.   3. No dividend shall be credited or paid unless the credit union has:  (a) Made good any existing impairment of its capital; and  (b) Carried to its allowance for loan loss account such  part  of  its earnings  as  is  required  by  section  four hundred fifty-nine of this article.   4. Dividends may be paid on shares and share certificates  at  various rates with due consideration of the conditions that pertain to each type of account such as minimum balance, notice and time requirements.   5.  When  any  dividend  shall  be  declared  in  excess of the amount available for dividends as determined in accordance with the  provisions of  this  section,  the  directors  voting for such dividend may be held jointly and severally liable to the credit union for the amount  of  the excess so declared.
NY Banking L § 461 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 461 - Change of Location; Estblishment of Stations; Extension or Revival of Corporate Existence.

§  461.  Change  of  location; establishment of stations; extension or revival of corporate existence. 1. Any credit union may make  a  written application  to  the  superintendent  for  leave  to change its place of business to another place within the state of New York. 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 credit union to have been adopted by a vote  of  a  majority  of  its  entire  board  of directors  at  a  meeting  of  such  board, duly convened and held. Such change may be made upon the written approval of the  superintendent.  If the superintendent shall grant his certificate authorizing the change of location,  as  provided in article two of this chapter, the credit union may, upon or after the day specified  in  the  certificate,  remove  its property and effects to the location designated therein.   2.  Subject  to  such regulations as the superintendent may adopt, any credit union, may open and maintain within or without the state, in  any locality  in  which  a  substantial  portion  of  its  actual  potential membership is employed or residing, one or more stations for the conduct of its business provided that before any such station or stations  shall be opened or maintained or removed to a new location:  (a)  Its  board  of  directors  shall  submit  to the superintendent a written application setting forth the reasons therefor and the  proposed location of such station or stations.  (b) The superintendent shall have given his written approval thereto.   3.  Every application submitted under either subdivision one or two of this section shall be accompanied by an investigation fee as  prescribed pursuant to section eighteen-a of this chapter.   4.  By votes cast by a majority of the shareholders of record entitled to vote at a meeting called for the purpose, a credit union, not  having perpetual  existence, may extend its duration, or, if it ceased to exist because of the expiration of the duration specified in its  organization certificate,   may  revive  its  existence.  Such  resolution  shall  be transmitted to the superintendent, who shall issue, under his  hand  and the  official  seal  of  the  department,  in  triplicate, a certificate setting forth the duration  of  the  credit  union  as  extended,  which certificates  shall  be  transmitted  and  filed  in  the same manner as authorization certificates.
NY Banking L § 462 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 462 - Foreign Credit Unions.

§  462.  Foreign  credit  unions.  Subject  to such regulations as the   superintendent may adopt, any credit union located in a state other than   this state may open and maintain in this state, in any locality in which   a substantial portion of its actual or potential membership is  employed   or  residing,  one  or  more  stations  for  the conduct of its business   provided that before any such station or stations  shall  be  opened  or   maintained or removed to a new location:1. Its board of directors shall submit to the superintendent a written   application setting forth the reasons therefor and the proposed location   of such station or stations. The application for each such station shall   be  accompanied by a fee as prescribed pursuant to section eighteen-a of   this chapter.2. The superintendent shall have given his written approval thereto.