reglab/housing_qa huggingface dataset:
NY Banking L § 463 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 463 - Exemptions and Individual Liability of Shareholders.

§  463.  Exemptions  and  individual  liability of shareholders.   The   transfer of the shares of any credit union shall not  be  taxable  under   the provisions of article twelve of the tax law.The  shareholders  of  a credit union shall not be individually liable   for the payment of the credit union's debts.
NY Banking L § 464 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 464 - Manner of Withdrawal; Expulsion or Suspension of Members; Effect Upon Liabilities to Credit Unions.

§  464.  Manner  of  withdrawal;  expulsion  or suspension of members; effect upon liabilities to  credit  unions.  1.  A  member  desiring  to withdraw  from  a credit union shall file a written notice of his or her intention to withdraw. However, a member who fails to  complete  payment of one share within six months of his or her admission to membership, or within  six  months  from  an  increase in the par value of shares, or a member who reduces his or her share balance below the par value  of  one share and does not increase the balance to at least the par value of one share  within  six  months  of  the reduction will be considered to have withdrawn from membership in the credit union.   2. The board of directors, pursuant to a written  policy  approved  by such  board, may expel or suspend any member who has not carried out his or her engagements with the credit union, or who has been convicted of a criminal offense,  or  who  neglects  or  refuses  to  comply  with  the provisions of this article, or of the bylaws, or who habitually neglects to pay his or her debts, or who becomes insolvent or bankrupt, or who is physically  or  verbally  abusive to credit union members or staff. Such written policy shall include the conditions and procedures under which a member may be expelled or  may  be  suspended,  in  whole  or  in  part, regarding member participation in services and other rights and benefits of  membership;  provided, however, that a member who has been suspended may continue to maintain a share account and may  continue  to  vote  at annual and special meetings.  (a)  Except as provided in paragraph (b) of this subdivision, a member shall not be expelled or suspended unless he or she has been informed in writing of the charges against him or her  and  has  been  provided  the opportunity to be heard within thirty days of the date of the mailing or delivery of such written notice.  (b) In the case of a member who has been physically abusive or who has made  threats of physical harm or violence, such member may be suspended or expelled from the date of the mailing or delivery of a written notice of such action and the reasons for the suspension or expulsion. As  part of  such  notice,  the  member  shall  be  advised of the opportunity to request reinstatement and to be heard within thirty days of the date  of the mailing or delivery of such notice.   3.  Any  member  of  a  credit  union who withdraws or is suspended or expelled shall not be relieved of any liability to the corporation.  The amounts  paid  in  on shares or deposited by such members, together with any dividends credited to  their  shares  and  any  interest  which  has accrued on their deposits, shall be repaid to them in the order of their withdrawal, suspension or expulsion, as funds become available therefor, but  the credit union may deduct from such payments any sums due it from such members.
NY Banking L § 465 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 465 - Withdrawal of Shares After Voting to Liquidate; Notices to Shareholders.

§  465.  Withdrawal  of  shares  after voting to liquidate; notices to   shareholders.  After the shareholders of a credit union have duly  voted   that  the  credit  union  be  closed  and  such  business  wound  up and   voluntarily liquidated, and prior to  the  entry  of  an  order  of  the   supreme  court  declaring  the business of such credit union closed, any   shareholder withdrawing any or all of his shares shall be given  written   notice  by  the  credit  union  at  the  time  of such withdrawal on the   withdrawal notice, that it has been duly voted to close the corporation,   wind up its business and voluntarily liquidate, that application may  be   made  to  the  supreme court for a closing order pursuant to subdivision   four of section six hundred five of this chapter, and that by  receiving   payment  for the shares surrendered, he will not be entitled to any part   of the surplus which may remain upon final liquidation and  which  would   have been credited upon such shares had the same remained until the time   that  the  closing  order  was  obtained.  If the notice is not given as   aforesaid, the shareholder shall be entitled to share in the surplus, as   if he had not made the withdrawal.
NY Banking L § 466 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 466 - Meetings of Shareholders; Voting.

§  466.  Meetings  of  shareholders;  voting.  1.  At  all meetings of   shareholders of every credit union each shareholder shall have one  vote   irrespective  of the number of shares which he holds; provided, however,   after a credit union has been in existence for a period of more than one   year, only a person who shall have been a  shareholder  of  such  credit   union  for  ninety  days  prior to the date of any such meeting shall be   entitled to vote. Every member entitled to vote at a meeting of  members   of  the  credit union may authorize another person or persons to act for   him by proxy at such meeting or, if the bylaws so provide, may  vote  by   mail  in  accordance with the provisions of the bylaws. Every proxy must   be signed by the member or his attorney-in-fact.    No  proxy  shall  be   valid except for the meeting specified therein and adjournments thereof.   Every  proxy  shall be revocable at the pleasure of the member executing   it. The authority of the holder of a proxy to act shall not  be  revoked   by  the  incompetence  or  death  of  the  member who executed the proxy   unless,  before  the  authority  is  exercised,  written  notice  of  an   adjudication  of  such  incompetence or of such death is received by the   officer of the credit union responsible  for  maintaining  the  list  of   members.  A  shareholder  may  vote by proxy at a meeting called to vote   upon voluntary dissolution. The bylaws may  prohibit  or  further  limit   proxies   for   members   and  their  duration.  No  officer,  director,   supervisory committee member, credit  committee  member,  loan  officer,   clerk, teller or bookkeeper of the credit union shall act as such proxy.   No  director,  supervisory committee member, credit committee member, or   officer of a credit union shall be eligible to act as an inspector of an   election  of  directors,  supervisory  committee  members   and   credit   committee members, at any meeting of members of the credit union.2.  Complete minutes of all shareholders' meetings shall be kept which   shall include a record of the exact number of members  present  together   with  a  count  of  votes  cast  for  the  election of all directors and   committee members.3. Upon the petition of any shareholder aggrieved by an election,  and   upon  notice  to the persons declared elected, the credit union and such   other persons as the court may direct, the supreme court  at  a  special   term  held  within  the judicial district where the office of the credit   union is located shall forthwith hear the proofs and allegations of  the   parties,  and  confirm  the  election, order a new election or take such   other action as justice may require.
NY Banking L § 467 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 467 - Qualifications and Disqualifications of Directors and Committee Members.

§ 467. Qualifications and disqualifications of directors and committee   members.  Every director and committee member of a credit union shall be   the owner of at least one share subscribed for by him or standing in his   name on the books of the credit union; and every person elected to be  a   director   or   committee   member,   who,  after  his  election,  shall   hypothecate, pledge or cease to be the owner of his qualifying share  or   shares,  except as permitted by subdivision four of section four hundred   fifty-six of this article, shall cure the disqualification within thirty   days or thereby vacate his office, and not be eligible  for  re-election   as a director or committee member for a period of one year from the date   of  the  next  succeeding  annual  meeting.  The  restrictions herein of   requiring directors and committee members to be the owner  of  at  least   one share shall not apply to a corporate credit union.
NY Banking L § 468 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 468 - Oaths of Directors; Officers and Members of Committees.

§  468.  Oaths of directors, officers and members of committees.  Each   director, officer and member of a  committee  when  first  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  credit   union,  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 of at least one share subscribed for by him or   standing in his name on the books of the credit union and that the  same   is  not  hypothecated, or in any way pledged as security for any loan or   debt, except as permitted by subdivision four of  section  four  hundred   fifty-six  of this chapter.  The affirmation of share ownership need not   be given by any director,  officer  and  member  of  a  committee  of  a   corporate credit union.  Such oath shall be subscribed by the directors,   officers  and  members  of  committees  making  it  and certified by any   officer  authorized  by  law  to  administer  oaths,   and   immediately   transmitted to the superintendent.
NY Banking L § 469 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 469 - Vacancies; Change in Number of Directors.

§  469. Vacancies; change in number of directors.  1. Vacancies in the   board of directors, supervisory  committee,  or  the  credit  committee,   occasioned  by resignations, deaths or other causes shall be reported by   each credit union to the superintendent within ten days after the event;   and the credit union shall likewise report  the  filling  of  each  such   vacancy  with the name, address and occupation of the person elected and   the name of the person whose place he is to fill.2. The number of directors may be changed within the  limits  provided   in subdivision four of section four hundred fifty-one of this article by   amendment of the bylaws.
NY Banking L § 470 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 470 - Powers and Duties of Directors; Not Entitled to Compensation; Disqualification of Directors.

§  470.  Powers and duties of directors; not entitled to compensation;   disqualification of directors. 1. The board of directors of every credit   union shall have the  general  management  of  the  affairs,  funds  and   records  of  the corporation.  No member of the board of directors shall   receive any compensation for his services as  a  member  of  the  board.   Whenever  the  directors  shall  deem any loan unsafe they may, in their   discretion, require additional security to be given by the borrower, and   if such security is not furnished as required by them, they may  declare   the  loan  due and take action to collect the same.  Complete minutes of   all meetings of directors shall be kept which shall include the names of   the directors present.2. No person shall be eligible for election as a director of a  credit   union  if  such person's spouse is a director or one of the five highest   paid salaried officers of the credit  union,  if  such  person  or  such   person's  spouse is the grandparent, parent, child, grandchild, brother,   sister, uncle, nephew, or niece of a director or one of the five highest   paid salaried officers of the credit union, or if a director or  one  of   the  five  highest  paid  salaried  officers  of the credit union is the   spouse of such person's child, grandchild, brother or sister.No director in office on July seventeenth, nineteen hundred eighty-six   shall be ineligible  for  the  office  of  director  by  reason  of  the   provisions of this subdivision.
NY Banking L § 471 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 471 - Duty of Directors and Officers.

§ 471. Duty of directors and officers. 1. Directors and officers shall discharge  the  duties  of  their respective positions in good faith and with that degree of diligence, care and skill  which  a  prudent  person would  exercise  under  similar  circumstances  in  like  positions.  In discharging their duties, directors and officers, when  acting  in  good faith,  may  rely  (a)  upon  financial  statements  of the credit union represented to them to be  correct  by  the  executive  officer  or  the officer  of  the  credit union having charge of the books of account, or stated in a written report by an independent public or certified  public accountant  or  firm of such accountants fairly to reflect the financial condition of such credit union, and (b)  upon  reports  required  to  be submitted  to  them  by any provision of this chapter or prepared in the ordinary course of business by an officer or committee charged with  the responsibility  therefor.  Nothing  in  this  section shall be deemed to require the directors to perform  functions  vested  in  any  committee, officer  or other person pursuant to the provisions of any other section of this chapter.   2. An action may be brought against one or more directors or  officers of a credit union to procure a judgment for the following relief:  (a) To compel the defendant to account for his official conduct in the following cases:  (i)  The  neglect of, or failure to perform, or other violation of his duties in the management and disposition of the  credit  union's  assets committed to his charge.  (ii)  The acquisition by himself, transfer to others, loss or waste of the credit union's assets due to any neglect of or failure  to  perform, or other violation of his duties.  (b)  To  set  aside a conveyance, assignment or transfer of the credit union's assets by one or more  directors  or  officers,  contrary  to  a provision of law, where the transferee knew the purpose of the transfer.  (c)  To enjoin such a conveyance, assignment or transfer of the credit union's assets by one or more of the directors or officers  where  there is good reason to apprehend that it will be made.   3.  Subject  to  section  six  hundred  thirty-one of this chapter, an action may be brought for the relief  provided  in  this  section  by  a credit union or an officer, director or judgment creditor thereof.   4.  This  section  shall not affect any liability otherwise imposed by law upon any director or officer.
NY Banking L § 473 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 473 - Loan Officers, Credit Committee; Duties.

§  473.  Loan  officers, credit committee; duties.   Whenever the term   "credit  committee"  is  used  in  this  article,  it  shall  solely  be   applicable  to  those  credit  unions  whose  bylaws  provide  for  such   committee. The credit committee of every  credit  union  shall  meet  as   often  as necessary, after due notice has been given to each member, for   the purpose of passing upon applications of members for loans.  No  loan   shall  be made unless approved by a loan officer or by a majority of the   members of the credit committee; except the credit committee or  a  loan   officer  may  approve  in  advance  upon  application  by  a  member, an   extension of credit, and loans may be granted to such members within the   limits of such extension of credit. The  loan  officers  or  the  credit   committee   shall   be  responsible  for  reviewing  and  affirming  all   extensions of credit and any extension of credit  shall  expire  if  the   member  becomes  more  than ninety days delinquent in his obligations to   the credit union.  If the credit union has shares  in  excess  of  fifty   thousand  dollars,  the  credit  committee  may appoint one or more loan   officers and delegate to him, her or them the  power  to  approve  loans   within  the  limits  fixed  by  the  board of directors.   If the credit   committee appoints one or more loan officers, not  more  than  one  loan   officer  shall be a member of the credit committee and each loan officer   shall report to the credit committee a record of each loan  approved  or   disapproved  by  him,  her or them within seven days after filing of the   loan application. All applications not approved by a loan officer  shall   be acted upon by the credit committee.  If there is no credit committee,   a  member  shall  have the right, upon written request, of review by the   board of directors of a loan application which has been denied.In no case shall a loan officer or a member of  the  credit  committee   serve  as  a  member  of  the supervisory committee.   No officer who is   authorized to sign checks shall act as a loan  officer.    If  a  credit   union  has  less than five hundred thousand dollars in assets, its board   of directors may act as its credit committee.  The credit  committee  of   every  credit  union  shall  keep  full  and complete minutes of all the   business transacted at each of its meetings. Such minutes shall  include   the names of those present at such meetings.
NY Banking L § 474 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 474 - Loan Reports to Directors.

§  474.  Loan  reports  to  directors.  1.  The credit committee shall   prepare and submit written reports to the  board  of  directors  of  all   loans  approved  or  disapproved.  If  there is no credit committee, the   board of directors shall designate, by resolution,  a  loan  officer  or   officers  whose  duty  it  shall  be  to prepare and submit such written   reports to the board.2. These written reports shall be submitted to the board of  directors   at  every  regular  monthly  meeting  of the board. Such written reports   shall include a detailed description of any  collateral  securing  these   loans.3.  The  superintendent  may  promulgate  regulations  relating to the   provisions of these loan reports.
NY Banking L § 476 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 476 - Officers; Powers and Duties.

§  476.  Officers;  powers  and duties.   The powers and duties of the   officers of any credit union shall be such  as  are  prescribed  in  the   bylaws.
NY Banking L § 477 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 477 - Retirement and Insurance Benefits for Officers and Employees.

§  477.  Retirement and insurance benefits for officers and employees.   1.   Subject to such regulations  as  the  superintendent  of  financial   services  may  prescribe,  a  credit  union  may, in the discretion of a   majority of  all  the  board  of  directors,  provide  to  officers  and   employees  retirement benefits, deferred compensation programs and other   employee benefit plans.2. A credit union investing to fund  a  retirement  benefit,  deferred   compensation  program  or  other  benefit  plan  for  its  officers  and   employees  shall  not  be  subject  to  or  limited  by  the  investment   provisions  set  forth  in  subdivision eighteen of section four hundred   fifty-four of this article so long as the investment is directly related   to  the  benefit  plan,  and  any  obligation  or  potential  obligation   thereunder,  and the credit union holds the investment for as long as it   provides such benefit plan or has any  actual  or  potential  obligation   thereunder.
NY Banking L § 478 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 478 - Amendment of Bylaws; Approval of Superintendent.

§  478. Amendment of bylaws; approval of superintendent. 1. The bylaws   of a credit union may be changed or amended by a vote of a  majority  of   the  total  number of directors which a credit union would have if there   were no vacancies present at any meeting; provided the  proposed  change   or  amendment  shall  have first had the approval of the superintendent,   except as provided in subdivision two  of  this  section;  and  provided   further, that notice of such meeting, with notice of the proposed change   or  amendment,  shall  have been given to each director as prescribed in   the bylaws and provided, further, that any amendment,  or  change  in  a   bylaw  affecting  the  manner or method by which a shareholders' meeting   may be convened, the voting rights of the shareholders, or a decrease in   the number of directors of the  credit  union  shall  also  require  the   approval  of  a majority of the shareholders present at a meeting of the   shareholders. A copy of any change or amendment thus  adopted  shall  be   filed  in  the office of the superintendent within thirty days after its   adoption.2. Notwithstanding the provisions of subdivision one of this  section,   a  credit  union  may  change or amend its bylaws to add a group of less   than three thousand members upon receiving a notice of no objection from   the superintendent. Within ten business days of receiving such  proposed   change or amendment, the superintendent shall either send a notice of no   objection, notify the credit union that the proposed change or amendment   is  denied,  or  notify  the  credit  union  that  additional  review is   necessary; provided, however, that if additional  review  is  necessary,   the  superintendent  shall  notify  the credit union of his or her final   decision within no more than twenty-five business days of receiving such   proposed change or amendment.3. Any credit union deeming itself aggrieved by  the  refusal  of  the   superintendent  to  give  his  or  her  approval to a proposed change or   amendment may apply to any justice of the supreme court of the  district   wherein  the credit union is located, upon notice to the superintendent,   for a review of such decision. Such justice shall review the decision of   the superintendent and may overrule or  set  aside  the  action  of  the   superintendent  and  approve  such change or amendment. An approval thus   obtained shall enable such credit union to make the change or  amendment   as approved.
NY Banking L § 479 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 479 - Credit Union Not Liable for Taxation.

§ 479. Credit union not liable for taxation.  Any credit union subject   to  the  provisions  of  this article shall be deemed an institution for   savings within the meaning of the law which  exempts  such  institutions   from  taxation.  No  law  which  taxes  corporations in any form, or the   shares thereof or the accumulations therein, shall apply to corporations   doing business in accordance with the provisions of this article, unless   such corporations are specifically named in said law.
NY Banking L § 480 (2021)
2021 New York Laws BNK - Banking Article 11 - Credit Unions 480 - Fiscal Year.

§  480.  Fiscal year.  The fiscal year of every credit union shall end   at the close of business on the thirty-first day of December.