reglab/statecodes huggingface dataset:
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-E - License Provisions.

§ 221-e.  License  provisions.  Each license issued under this article
  shall state the address or addresses at which a representative is to  be
  located  and  shall  state  fully the name of the licensee. Such license
  shall not be transferable or assignable. In the event  the  location  of
  the representative shall be changed, the licensee shall forthwith notify
  the  superintendent  who  shall  thereupon  without charge attach to the
  license an amendment certificate setting forth such changed location.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-F - Grounds for Suspension or Revocation of License; Procedure.

§ 221-f.  Grounds  for suspension or revocation of license; procedure.
1.  The superintendent may revoke any license  issued  hereunder  if  it
shall be found that:
(a)  The  licensee or its representative has violated any provision of
this article, or of any rule or regulation made  by  the  superintendent
under and within the authority of this article or of any other law, rule
or regulation of this state.
(b)  Any fact or condition exists which, if it had existed at the time
of the original application for such license, would have  warranted  the
superintendent in refusing originally to issue such license.
2.  The  superintendent  may, on good cause shown, suspend any license
for a period not exceeding thirty days, pending investigation.
3. Except as provided in subdivision two of this section,  no  license
shall be revoked or suspended except after notice and a hearing thereon.
4.  Any  licensee  may  surrender  any  license  by  delivering to the
superintendent written notice that it thereby surrenders  such  license,
but  such  surrender  shall not affect such licensee's civil or criminal
liability for acts committed prior to such surrender.
5. Every license issued hereunder shall remain  in  force  and  effect
until  the  same  shall  have  been surrendered, revoked or suspended in
accordance with the provisions of this article, but  the  superintendent
shall  have authority to reinstate a suspended license or to issue a new
license to a licensee whose license shall have been revoked if  no  fact
or  condition  then exists which would have warranted the superintendent
in refusing originally to issue such license under this article.
6. Whenever the superintendent  shall  revoke  or  suspend  a  license
issued  pursuant  to  this article, a written order shall be immediately
executed in duplicate to that effect. The superintendent shall file  one
copy of such order in the office of the department of financial services
and  shall  forthwith  serve  the other copy upon the licensee. Any such
order may be reviewed in the manner provided by article seventy-eight of
the civil practice  law  and  rules.  Such  application  for  review  as
authorized by this section must be made within thirty days from the date
of such order of suspension or revocation.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-G - Superintendent Authorized to Examine; Expenses.

§ 221-g.  Superintendent  authorized  to  examine;  expenses.  For the
  purpose  of  discovering  violations  of  this   article   or   securing
  information  lawfully  required by him hereunder, the superintendent may
  at any time, and as often as may be determined, either personally or  by
  a   person  duly  designated  by  him,  investigate  the  activities  of
  representatives of licensees and examine the books,  accounts,  records,
  and  files  used  in relation to those activities.  For that purpose the
  superintendent and a duly designated representative (i) shall have  free
  access  to  the  offices, books, accounts, papers, records, files, safes
  and vaults of licensees and their representatives, and (ii)  shall  have
  authority  to  require  the  attendance of and to examine under oath all
  persons whose testimony may be required relative to the activities of  a
  representative. The expenses incurred in making any examination pursuant
  to  this  section  shall be assessed against and paid by the licensee so
  examined, except that traveling and  subsistence  expenses  so  incurred
  shall  be  charged  against and paid by licensees in such proportions as
  the  superintendent  shall  deem   just   and   reasonable,   and   such
  proportionate  charges  shall  be  added  to the assessment of the other
  expenses incurred upon each examination.  Upon  written  notice  by  the
  superintendent  of  the  total  amount  of such assessment, the licensee
  shall  become  liable  for  and  shall  pay  such  assessment   to   the
  superintendent.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-H - Licensee's Books and Records; Reports.

§ 221-h.  Licensee's  books  and  records;  reports. A foreign banking
  corporation licensed pursuant to this article shall keep or  cause  each
  of  its representatives to keep and use such books, accounts and records
  as  will  enable   the   superintendent   to   determine   whether   the
  representative is complying with the provisions of this article and with
  the  rules  and  regulations  lawfully  made by the superintendent. Such
  books, accounts and records shall be preserved for at least three years;
  provided however, that preservation by photographic reproduction thereof
  or records in photographic form shall  constitute  compliance  with  the
  requirements of this section.
The  superintendent may require such regular or special reports as may
  be deemed necessary to the proper supervision of  licensees  under  this
  article.  Such additional reports shall be in the form prescribed by the
  superintendent and shall be subscribed and affirmed as  true  under  the
  penalties of perjury.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-I - Notice of Acquisition of Control or Merger.

§ 221-i.  Notice  of  acquisition  of control or merger. 1.  A foreign
  banking corporation licensed pursuant to  this  article  to  maintain  a
  representative office in this state shall file with the superintendent a
  notice,   in   such   form   and  containing  such  information  as  the
  superintendent may prescribe, no later than fourteen calendar days after
  such foreign banking corporation becomes aware  of  any  acquisition  of
  control  of  such  corporation  or  merges  with another foreign banking
  corporation.
2. Control, for purposes of this section, means any person or  entity,
  or  group  of  persons  or  entities  acting  in  concert,  directly  or
  indirectly,  owning,  controlling,  or  holding  with  power  to   vote,
  twenty-five percent or more of any class of voting stock of such foreign
  banking  corporation,  or  having  the  ability in any manner to elect a
  majority of the  directors  of  such  foreign  banking  corporation,  or
  otherwise  exercising  a  controlling  influence over the management and
  policies  of  such  foreign  banking  corporation  as  defined  by   the
  superintendent by regulation.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-J - Authority of Superintendent.

§ 221-j.  Authority  of  superintendent.  The superintendent is hereby
  authorized and empowered to  promulgate,  in  addition  hereto  and  not
  inconsistent  herewith, such general rules and regulations, definitions,
  and such specific  rulings,  demands  and  findings  as  may  be  deemed
  necessary for the proper conduct of the business authorized and licensed
  hereunder and for the enforcement of this article.
2023 New York Laws › BNK - Banking › Article 5-B - License for a Foreign Banking Corporation to Maintain a Representative › 221-K - Separability of Provisions.

§ 221-k. Separability of provisions. If any provision of this article,
  or   the  application  of  such  provision  to  any  person,  entity  or
  circumstance, shall be held invalid, the remainder of the  article,  and
  the  application of such provision to persons, entities or circumstances
  other than those as to which it is held invalid, shall not  be  affected
  thereby.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 223 - Establishment of Branches or Trust Offices by Means of an Acquistion Transaction.

§  223.  Establishment  of  branches  or  trust offices by means of an
  acquisition transaction. An out-of-state bank may maintain one  or  more
  branches  or  one  or more trust offices located in this state that have
  been acquired by means of an acquisition transaction.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 223-A - Establishment of Branches by Out-of-State Banks by De Novo Branching.

§  223-a.  Establishment  of branches by out-of-state banks by de novo
  branching. In addition to the  authority  of  an  out-of-state  bank  to
  maintain a branch or branches by means of an acquisition transaction, an
  out-of-state  bank  may  establish  one or more de novo branches in this
  state; provided, however, that an out-of-state state bank  shall  obtain
  the  superintendent's prior approval in accordance with the requirements
  in section two hundred twenty-four of this chapter.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 224 - Application for the Establishment of Branches or Trust Offices Not Resulting From an Acquistion Transaction; Retention of Branches or Trust Offices Resulting From Merger or Acquistion.

§ 224.  Application for the establishment of branches or trust offices
  not resulting from an acquisition transaction; retention of branches  or
  trust  offices  resulting  from merger or acquisition. 1. An application
  for approval to the superintendent containing such information as he  or
  she  deems  necessary  shall  be submitted by an out-of-state state bank
  prior to the establishment of each branch. At the time  of  making  such
  application,  an  investigation  fee  as  prescribed pursuant to section
  eighteen-a of this chapter shall be paid to the superintendent for  each
  branch  for  which  approval is sought. If the superintendent finds that
  the opening of the branch is not  consistent  with  the  declaration  of
  policy  set forth in section ten of this chapter, he or she shall notify
  the applicant that the application  has  been  denied.  An  out-of-state
  state  bank  or  out-of-state  state-chartered  trust company seeking to
  establish one or more trust offices in this state shall comply with  the
  notice  procedures  set forth in subdivision four of section one hundred
  thirty-one of this chapter.
2. Subject to the  provisions  of  this  article,  if  the  merger  or
  acquisition  agreement  so  provides,  an  out-of-state  state  bank may
  maintain as a branch or branches or trust office or  trust  offices  the
  place  or  places  of  business  of any banking institution which it has
  received  into  itself  as  a  result  of  an  acquisition   transaction
  authorized by this article.
3.  No out-of-state state bank shall open, occupy or maintain a branch
  in this state at  a  location  not  permitted  to  a  like-type  banking
  organization.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 224-A - Change of Location of Branches or Trust Offices by Out-of-State State Banks or Out-of-State State-Chartered Trust Companies.

§   224-a.  Change  of  location  of  branches  or  trust  offices  by
  out-of-state  state  banks   or   out-of-state   state-chartered   trust
  companies.  An  application  for approval containing such information as
  the superintendent deems necessary shall be submitted by an out-of-state
  state bank or an out-of-state state-chartered trust company prior to the
  relocation of a branch or trust office in this state.  At  the  time  of
  making  such application, an investigation fee as prescribed pursuant to
  section eighteen-a of this chapter shall be paid to  the  superintendent
  for  each  branch  or  trust office for which approval is sought. If the
  superintendent shall be satisfied that such relocation may be  permitted
  under  the  terms  of  this  chapter  and  that  there  is no reasonable
  objection to such change, he or she shall approve such application.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 225-A - Power of Superintendent to Examine Branches or Trust Offices of Out-of-State State Banks or Out-of-State State-Chartered Trust Companies.

§  225-a. Power of superintendent to examine branches or trust offices
  of  out-of-state  state  banks  or  out-of-state  state-chartered  trust
  companies. The superintendent shall have the power at any time in his or
  her  discretion  to examine every branch or trust office located in this
  state of an out-of-state  state  bank  or  out-of-state  state-chartered
  trust  company  for  the  same  purposes  and  to  the same extent as is
  provided in the case of banking organizations pursuant to the provisions
  of this chapter.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 225-B - Applicability of Certain Sections to Out-of-State Banks.

§  225-b.  Applicability of certain sections to out-of-state banks. 1.
  Except as otherwise provided in this section, nothing in article five or
  article five-B of this chapter shall apply to an  out-of-state  bank  or
  out-of-state  trust  company  authorized  to open, occupy and maintain a
  branch pursuant to the provisions of this  article  or  a  trust  office
  pursuant  to  this article or to subdivision four of section one hundred
  thirty-one of this chapter. Any reference in this chapter (other than in
  article five or article five-B) to a foreign bank,  foreign  corporation
  or  foreign  banking corporation shall be deemed to be a reference to an
  out-of-state bank or out-of-state  trust  company  authorized  to  open,
  occupy  and maintain a branch pursuant to the provisions of this article
  or a trust office pursuant to this article or  to  subdivision  four  of
  section  one  hundred  thirty-one  of  this chapter. Notwithstanding the
  foregoing, the provisions of section two  hundred  two-h  (Repayment  of
  deposits  standing in the names of minors, trustees, joint depositors or
  custodians; interpleader in certain  actions),  of  this  chapter  shall
  apply  with equal force and effect to out-of-state banks or out-of-state
  trust companies authorized to open, occupy or maintain branches pursuant
  to the provisions of this article.
2. The provisions of section three hundred ninety-nine-a,  subdivision
  three  of  section  one  hundred  thirty, subdivision two of section one
  hundred forty-three, subdivision five of section two hundred forty-seven
  and subdivision five  of  section  three  hundred  ninety-nine  of  this
  chapter  with respect to restrictions on executive officers or directors
  of foreign banking corporations and the provisions of  sections  twenty,
  twenty-six, thirty, thirty-one and six hundred thirty-four, subdivisions
  eleven  and  twelve  of  section  six  hundred five, subdivision four of
  section six hundred six and paragraph (a) of subdivision one of  section
  fourteen  of  this  chapter,  shall  not  apply  to  out-of-state  banks
  authorized  to  open,  occupy  or  maintain  branches  pursuant  to  the
  provisions of this article.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 226 - Powers of Out-of-State State Banks.

§ 226.  Powers of out-of-state state banks. An out-of-state state bank
  that opens, occupies or maintains a branch in this state  as  authorized
  by  this article shall have in this state the same powers under the laws
  of this state as a like-type banking organization.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 227 - Powers Permitted to Out-of-State Branches of New York Banks.

§ 227. Powers permitted to out-of-state branches of New York banks.  A
  New  York  bank  that  opens,  occupies and maintains one or more branch
  offices in any state may exercise such powers at such branch or branches
  as would be permitted at such place or places to an  out-of-state  state
  bank  maintaining  a branch or branches at such place or places with the
  type of charter that most nearly corresponds to the charter of such  New
  York  bank; provided, however, that prior to exercising in any state any
  power not permitted to be exercised by such New York bank in this state,
  it shall apply to the superintendent to exercise such power and approval
  therefor shall be given unless the superintendent  determines  that  the
  exercise  of  such  power  is  contrary  to  the  declaration  of policy
  contained in section ten of this chapter.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 227-B - Rules and Regulations.

§ 227-b.  Rules  and  regulations.  The  superintendent shall have the
  authority to promulgate such rules and regulations consistent  with  the
  purposes  of  this  article, including but not limited to such rules and
  regulations as may define the terms used in this article and as  may  be
  necessary   or  appropriate  to  interpret,  implement  or  enforce  the
  provisions thereof.
2023 New York Laws › BNK - Banking › Article 5-C - Interstate Branching › 227-C - Separability of Provisions.

§ 227-c. Separability of provisions. If any provision of this article,
  or the application of such provision to any person or circumstance shall
  be  held  invalid, the remainder of this article, and the application of
  such provisions thereof to persons or circumstances other than those  as
  to which it is held invalid, shall not be affected thereby.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-A - Establishment.

§ 228-a.  Establishment.  1. A small business investment company to be
  known as the "New York small  business  investment  company,"  shall  be
  organized  under  the  business  corporation  law  and operated so as to
  qualify for licensing under Section 301(c) and applicable regulations. A
  specialized small business investment company to be known  as  the  "New
  York  specialized small business investment company," shall be organized
  under the business corporation law and operated so  as  to  qualify  for
  licensing under Section 301(d) and applicable regulations. The corporate
  structure,  organization,  and  activities of the NYSBIC and the NYSSBIC
  shall be in conformity with the requirements of Title III and 13  C.F.R.
  Pt. 107.
2.  The  business  corporation  law  shall apply to the NYSBIC and the
  NYSSBIC, except  that  in  case  of  a  conflict  between  the  business
  corporation  law  and this article, the provisions of this article shall
  govern. If there is in this article a provision  relating  to  a  matter
  embraced  in the business corporation law and not in conflict therewith,
  both provisions shall apply.
3. The governor, in consultation with the president  pro  tem  of  the
  senate  and  the speaker of the assembly, on behalf of the people of the
  state of New York, the New York business  development  corporation,  and
  the  voting shareholders, on or before April thirtieth, nineteen hundred
  ninety-four, shall enter into a memorandum of understanding on an agreed
  upon plan for establishing the NYSBIC and  the  NYSSBIC,  including  the
  legal,  organizational  and  financial  structure  of the NYSBIC and the
  NYSSBIC.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-B - Definitions.

§ 228-b. Definitions. As used in this article, the following terms and
abbreviations shall have the meanings indicated:
1. "NYSBIC" means the New York small business investment company which
shall  be  organized  and operated in conformity with Section 301(c) and
applicable regulations.
2. "NYSSBIC" means the New York specialized small business  investment
company which shall be organized and operated in conformity with Section
301(d) and applicable regulations.
3.  "Highly  distressed  area"  means: (a) a census tract or tracts or
block numbering area or areas or such census tract  or  block  numbering
area  contiguous thereto which, according to the most recent census data
available, has:
(i) a poverty rate of at least twenty percent for the  year  to  which
the  data relates or at least twenty percent of the households receiving
public assistance; and
(ii) an  unemployment  rate  of  at  least  one  and  twenty-five  one
hundredths  times  the statewide unemployment rate for the year to which
the data relates; or
(b) a city, town, village or county within a city with a population of
one million or more for which: (i) the ratio of the full value  property
wealth,  as  determined by the comptroller for the year nineteen hundred
ninety, per resident to the statewide average full value property wealth
per resident; and (ii) the ratio of the income per resident, as shown in
the nineteen hundred ninety census to the statewide average  income  per
resident; are each fifty-five percent or less of the statewide average.
4.   "Investment   companies"   means   the  NYSBIC  and  the  NYSSBIC
collectively.
5. "Section 301(c)" means Section  301(c)  of  Title  III,  15  U.S.C.
681(c).
6.  "Section  301(d)"  means  Section  301(d)  of Title III, 15 U.S.C.
681(d).
7. "Title III" means Title III of the Small Business Investment Act of
1958, United States Pub. L. 85-699 (as amended).
8. "Voting shareholders" means those shareholders of the NYSBIC or the
NYSSBIC that contribute to the capitalization and ongoing funding of the
investment companies.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-C - Purposes, Powers and Operation.

§ 228-c.  Purposes,  powers  and operation. 1. (a) The purposes of the
NYSBIC shall be to serve the needs of the small  business  community  in
the  state  of  New  York.  The  NYSBIC shall direct its efforts towards
providing small business with start-up, venture,  operating  or  working
capital,  particularly where general economic and historical conditions,
such  as  recent  employment  displacement  caused   by   international,
national,   state,  regional,  and  local  economic  developments,  have
prevented traditional capital sources  from  extending  credit  to  such
small businesses.
(b)  The  purposes  of  the  NYSSBIC  shall be to provide financing to
facilitate small business ownership by minorities and persons who reside
in  highly  distressed  areas  as  defined  in   section   two   hundred
twenty-eight-b of this article, neighborhood based alliance communities,
and  persons  eligible  for the earned income tax credit under an act to
amend the internal revenue code of 1954, Pub.  L.  94-12,  89  Stat.  30
(1975),  as  amended,  and the regulations promulgated thereunder, whose
participation in the free enterprise system is hampered by an  inability
to  compete effectively for capital in the marketplace due to prevailing
or  past  restrictive  practices   provided,   however,   in   approving
applications  for  assistance,  priority  shall  be  given to minorities
residing in neighborhood based alliance communities,  designated  empire
zones  or  highly distressed areas. The NYSSBIC shall direct its efforts
toward providing these businesses with start-up, venture,  operating  or
working  capital. The NYSSBIC will adopt an investment policy consistent
with the policy set forth in Section 301(d).
(c) The NYSBIC and the NYSSBIC shall function as licensees and perform
the  respective  functions  set  forth  in  Title  III  and   applicable
regulations.
2. In furtherance of the purposes set forth in subdivision one of this
section,  and  in addition to the powers conferred on stock corporations
by the business corporation law,  the  NYSBIC  and  the  NYSSBIC  shall,
subject  to  the  restrictions and limitations contained in this article
and without limiting any power  otherwise  conferred  herein,  have  the
following powers:
(a)  To  lend  money  and conduct other financing transactions at such
rate or rates as may be  available  to  banking  organizations  licensed
under this chapter; and
(b) To enter such business and financing transactions and arrangements
at such rates and under such terms and conditions as may be permitted to
licensees under Sections 301(c), 301(d) and applicable regulations.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-D - New York Small Business Investment Company; Board of Directors.

§ 228-d.   New  York  small  business  investment  company;  board  of
  directors. 1. The corporate  powers  of  the  New  York  small  business
  investment  companies  shall be exercised by a board of directors, which
  shall consist of thirty persons, all of  whom  shall  be  of  full  age,
  citizens  of  the  United  States,  and  residents of this state. Of the
  thirty members of the board of directors, twenty shall  be  selected  by
  the  voting  shareholders and ten shall be selected by the governor, two
  upon the recommendation of the president pro tem of the New  York  state
  senate,  one upon recommendation of the senate minority leader, two upon
  the recommendation of the speaker of the New York state assembly and one
  upon recommendation of the assembly minority leader.
2. The president of the investment  company  shall  be  elected  by  a
  majority of the board of directors.
3.  Nothing  contained in this section shall prevent a director of the
  New York small business investment company from serving as a director of
  the New York specialized small business investment company  nor  prevent
  the  president  of  the  NYSBIC  from  serving  as  the president of the
  NYSSBIC.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-E - New York Specialized Small Business Investment Company; Board of Directors.

§ 228-e. New York specialized small business investment company; board
  of  directors. 1. The corporate powers of the New York specialized small
  business  investment  companies  shall  be  exercised  by  a  board   of
  directors,  which  shall consist of thirty persons, all of whom shall be
  of full age, citizens of the United States, and residents of this state.
  Of the thirty members  of  the  board  of  directors,  twenty  shall  be
  selected  by  the  voting  shareholders and ten shall be selected by the
  governor, two upon the recommendation of the president pro  tem  of  the
  New  York  state  senate, one upon recommendation of the senate minority
  leader, two upon the recommendation of the speaker of the New York state
  assembly and one upon recommendation of the assembly minority leader.
2. The president of the investment  company  shall  be  elected  by  a
  majority of the board of directors.
3.  Nothing  contained in this section shall prevent a director of the
  New York specialized small business investment company from serving as a
  director of the New York small business investment company  nor  prevent
  the  president  of  the  NYSSBIC  from  serving  as the president of the
  NYSBIC.
2023 New York Laws › BNK - Banking › Article 5-D - Small Business Investment Companies › 228-F - Reports.

§ 228-f.  Reports.  1.  The  investment companies shall make an annual
report of their conditions to the  governor,  the  legislature  and  the
superintendent of financial services, on or before January first of each
year.
2. Commencing January first, nineteen hundred ninety-five, such annual
report shall contain but not be limited to the following:
(a)  information  on  the cost and source of funds and capital and the
total allowable amount available from the voting shareholders,  and  the
maximum amount committed by each individual voting shareholder;
(b)  classification  of  the  businesses  in the investment companies'
portfolio by standard industrial code;
(c) information on the types of financing provided by  the  investment
companies,  including  start-up,  venture,  operating or working capital
loans, the size and term of loans, and a  breakdown  of  investments  by
senior debt, subordinated debt and equity financing;
(d)  information  on interest rates of loans, including the percentage
of fixed and variable rate loans;
(e) information on how the NYSBIC is fulfilling its mission to provide
small businesses with  credit  assistance,  particularly  where  general
economic  and  historical  conditions have prevented traditional capital
sources from extending credit to such small business;
(f) information on how  the  NYSSBIC  is  fulfilling  its  mission  to
provide  credit  assistance  to  facilitate  small business ownership by
minorities,  persons  who  reside  in   highly   distressed   area   and
neighborhood  based  alliance  communities  and persons eligible for the
earned income credit as provided by paragraph (b) of subdivision one  of
section two hundred twenty-eight-c of this article;
(g)  information  on  resources  and  actions  taken  to  advance  the
investment companies' marketing programs, including  their  coordination
and  efforts  to  solicit  the  assistance  of  local  bankers and local
economic development corporations,  the  state  department  of  economic
development,  the  job  development  authority,  the  urban  development
corporation, the science and technology foundation, the state university
of New York small business development centers, the centers for advanced
technology and other New  York  state  agencies  and  organizations  the
investment companies deem appropriate.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 229 - Application.

§ 229. Application.
1.  This  article applies to every savings bank and shall not apply to
  any other banking organization except to such extent, if any, as may  be
  specified  in  any  article  of  this  chapter  governing  such  banking
  organization; provided, however, that in the case of stock-form  savings
  banks,  this  article applies to every such organization except that the
  superintendent of financial services, consistent with the declaration of
  policy described  in  section  fourteen-e  of  this  chapter,  shall  be
  empowered to deem inapplicable to stock-form savings banks, sections two
  hundred  thirty,  two  hundred  thirty-one,  two hundred thirty-two, two
  hundred thirty-three, subdivisions one and two of  section  two  hundred
  thirty-four,  two  hundred  forty-three,  two  hundred  forty-four,  two
  hundred forty-five, two hundred forty-six, two hundred forty-six-a,  two
  hundred  forty-seven,  two  hundred forty-eight, two hundred forty-nine,
  two hundred fifty, two hundred fifty-one and two  hundred  fifty-two  of
  this chapter.
2.  The  general  corporation  law,  the stock corporation law and the
  business corporation law shall not apply to any savings bank.  If  there
  should  be  in  any other corporate law a provision which conflicts with
  any provision of this chapter,  the  provision  of  this  chapter  shall
  prevail  and the conflicting provision of such other corporate law shall
  not apply in such case.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 230 - Incorporation; Organization Certificate.

§ 230. Incorporation; organization certificate. When authorized by the
  superintendent as provided in article two of this chapter, not less than
  nine  nor  more than twenty persons may incorporate a savings bank. They
  shall  subscribe  and  acknowledge  an   organization   certificate   in
  duplicate, which shall specifically state:
1. The name by which the corporation is to be known.
2. The place where its principal office is to be located.
3. Its duration if other than perpetual.
4.  The  name,  occupation,  citizenship,  residence  and  post-office
  address of each incorporator.
5. The amount which each incorporator will contribute in cash  to  the
  surplus fund.
6.  The  names  of  the  incorporators who are to constitute its first
  board of trustees. Such persons as individuals and as a  group  must  be
  free of the disqualifications specified in section two hundred forty-six
  of this article.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 232 - Organization Certificate to Be Submitted to Superintendent; Proof of Publication and Service of Notice of Intention.

§ 232.  Organization  certificate  to  be submitted to superintendent;
  proof of publication and service of notice of intention. After the lapse
  of at least twenty-eight days from the date of the first due publication
  of the notice of intention to organize and within  ten  days  after  the
  date  of  the  last  publication  thereof, the organization certificate,
  executed in  duplicate,  shall  be  submitted  for  examination  to  the
  superintendent  with  affidavits  showing due publication and service of
  the notice of intention to organize.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 233 - When Corporate Existence Begins; Conditions Precedent to Commencing Business.

§ 233.  When  corporate  existence  begins;  conditions  precedent  to
  commencing business. When the superintendent  shall  have  approved  the
  organization  certificate,  as  provided in article two of this chapter,
  the corporate existence of the savings bank  shall  begin,  and  it  may
  exercise all the powers necessary to the completion of its organization.
  Such savings bank shall transact no other business until:
1.  The  incorporators  shall  have  deposited  to  the credit of such
  savings bank in cash as an initial surplus fund at  least  ten  thousand
  dollars, and, if the superintendent shall so require, shall have entered
  into  an agreement or undertaking with the superintendent as trustee for
  the depositors of the savings bank, to make such  further  contributions
  in  cash  to  the surplus fund as, in the opinion of the superintendent,
  may be necessary to maintain the  savings  bank  in  safe  condition  to
  continue business, and shall have filed with the superintendent a surety
  bond  of  a corporation authorized to transact the business of insurance
  in this state, securing such agreement  or  undertaking  in  the  amount
  required by the superintendent.
2.  It  shall  have informed the superintendent of the name, residence
  and post-office address of each officer of the corporation.
3. The superintendent shall have duly issued to it  the  authorization
  certificate specified in article two of this chapter.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 234-A - Settlement, Modification or Readjustment of Investment.

§ 234-a.  Settlement,  modification  or readjustment of investment.  A
  savings bank may consent to any settlement, modification or readjustment
  of any investment in securities legally made by such savings  bank,  and
  may  accept and hold stocks, bonds, notes, securities or other property,
  real or personal, offered in full or partial settlement, modification or
  readjustment of any such investment.   The superintendent  may,  in  his
  discretion,  require  any  savings  bank  to  dispose  of any investment
  acquired by it pursuant to this section.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 234-B - Trust Powers.

§ 234-b.  Trust powers. 1. The superintendent of financial services is
  authorized and empowered to  grant  permission  to  a  savings  bank  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 savings  bank,  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 to it 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 bank, 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.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 235-B - Effect of Usury.

§ 235-b.  Effect of usury. The knowingly taking, receiving, reserving,
  or charging by a savings bank of interest at a rate greater than six per
  centum per annum, as computed pursuant to this section, or in excess  of
  such greater 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 bank twice the entire amount of the interest thus paid.  Nothing
  in this section shall be deemed to affect the powers of any savings bank
  with respect to loans or investments it is authorized to make.
* § 235-b.   Effect   of   usury.  The  knowingly  taking,  receiving,
  reserving, or charging by a savings bank of interest 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  bank  twice  the  entire  amount  of the interest thus paid, if
  action therefor is brought within two years from the time the excess  of
  interest is taken. Nothing in this section shall be deemed to affect the
  powers  of  any  savings bank with respect to loans or investments it is
  authorized to make.
* NB Effectiveness of amendments made by chapter 349/1989  §7  expired
  September 1, 1971 per §13 of such chapter
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 235-C - Regulation of Certain Charges.

§ 235-c.   Regulation   of  certain  charges.  The  superintendent  of
  financial services shall have the power to prescribe by  regulation  (i)
  the  maximum charge which may be imposed in this state by a savings bank
  in connection with a check or other  written  order  drawn  upon  it  on
  insufficient  funds,  irrespective  of  whether  the instrument is paid,
  accepted or returned by the bank, and (ii) the maximum charge which  may
  be imposed in this state by a savings bank in connection with a check or
  other  written  order  received  by  it  for  deposit  or collection and
  subsequently dishonored and returned for any reason by the drawee.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 235-D - Service Corporations Owned by Savings Banks; Authorized Activities of Such Corporations; Investment Therein.

§ 235-d.  Service  corporations  owned  by  savings  banks; authorized
  activities of such corporations; investment therein. 1. A  savings  bank
  may  invest  in  the  stock, capital notes and debentures of one or more
  service corporations 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 corporations is, or is to be, owned by one or more savings
  banks;  and  provided  further,  that  no  savings  bank  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 corporations, performed directly or
  through  one  or  more  wholly  owned  subsidiaries,  shall  consist  of
  rendering such services to savings banks and making such investments for
  itself  and for savings banks as are authorized services and investments
  for such savings banks under the provisions of this chapter, as well  as
  such  activities  as  may  be  prescribed  by  general regulation of the
  superintendent of financial services.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 236 - Deposits by Savings Banks With Other Banking Corporations and Private Bankers; Restrictions.

§ 236.  Deposits  by savings banks with other banking corporations and
  private bankers; restrictions. 1. Except for investments  made  pursuant
  to  subdivision  twelve-a  of  section  two  hundred thirty-five of this
  chapter, no savings bank shall deposit any of its funds with  any  other
  banking corporation or private banker unless such corporation or private
  banker  has been designated as a depositary by vote of a majority of all
  the trustees of the savings bank, exclusive of any  trustee  who  is  an
  officer, partner, director or trustee of the depositary so designated.
2.  The  amount  deposited  by  any  savings  bank  in any depositary,
  including  investments  made  pursuant  to  subdivisions  twelve-a   and
  twelve-b  of  section two hundred thirty-five of this chapter, shall not
  exceed twenty-five per centum of the net worth  as  shown  by  the  last
  published statement of such depositary, if a corporation, or twenty-five
  per  centum  of  the  permanent capital and surplus as shown by the last
  published statement of such depositary, if a private banker, or five per
  centum of the aggregate  amount  credited  to  the  depositors  of  such
  savings bank, whichever is smaller.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 239-A - Preservation of Books and Records.

§  239-a.  Preservation of books and records. Every savings bank 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  reproductions
  thereof or records in photographic form shall constitute compliance with
  the  requirements  of  this  section. Notwithstanding the foregoing, the
  superintendent of financial services may prescribe  by  regulation  such
  period of time longer or shorter than six years during which all records
  kept by saving banks as fiduciary shall be preserved in original form.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 240-A - Electronic Facilities.

§ 240-a.  Electronic  facilities. A savings bank may conduct a banking
  business, at automated teller  machines,  point-of-sale  terminals,  and
  similar  facilities  subject  to regulations which may be promulgated by
  the superintendent of financial services. Such facilities shall  not  be
  deemed  to be branches and shall not be subject to any of the provisions
  of  this  chapter  applicable  to  branches;   provided   however   that
  notwithstanding   the  foregoing,  for  purposes  of  paragraph  (b)  of
  subdivision two of section two  hundred  forty  of  this  chapter,  such
  facilities  shall be deemed to be branches, and such facilities shall be
  subject to the terms and conditions of section two  hundred  forty,  and
  for  purposes of section twenty-eight-b of this chapter, such facilities
  shall be deemed to be branches.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 240-B - Acceptance of United States Currency.

§ 240-b.  Acceptance  of United States currency. No savings bank shall
  impose a fee, commission or service charge for accepting for deposit  or
  exchanging  for  other United States currency any United States currency
  provided that any coins are properly  rolled  and  have  the  customer's
  account  number  for  that  savings  bank  displayed  on  the coin roll,
  provided  further  that  no  more  than  ten  rolls  of  coins  in   any
  denomination are presented for deposit or exchange at any one time.
2023 New York Laws › BNK - Banking › Article 6 - Savings Banks › 241 - Change of Location; Change of Designation of Principal Office.

§ 241.  Change of location; change of designation of principal office.
  Any savings bank 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 in the state  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. This application shall  state  the  reasons  for  such
  proposed  change.  Such  change may be made upon the written approval of
  the superintendent.  If  the  superintendent  shall  grant  his  or  her
  certificate  authorizing  the change of location, as provided in article
  two of this chapter, the  savings  bank  may,  upon  or  after  the  day
  specified  in  the  certificate,  remove its property and effects to the
  location designated therein.