reglab/statecodes huggingface dataset:
2023 New York Laws › BNK - Banking › Article 2-AA - Atm Safety Act › 75-M - Variances and Exemptions From Automated Teller Machine Security Measures.

§ 75-m.  Variances  and  exemptions  from  automated  teller  machine
security measures. 1. Except  in  cities  having  a  population  of  one
million or more, and in accordance with the guidelines set forth in this
article,   the   superintendent,   pursuant  to  rules  and  regulations
promulgated by the superintendent, and upon written request of a banking
institution, may approve variances  which  provide  substitute  security
measures  that  are  substantially as safe as the requirements of any of
the security measures contained in this article, or exemptions from such
measures, with respect  to  an  automated  teller  machine  facility  or
facilities operated by such banking institution;
2.  In  no event, however, shall the superintendent vary or exempt any
such measures unless he or she shall have received the following  items,
in form and substance satisfactory to him or her:
(a)  a  resolution  or  declaration of the governing body of the city,
village, or town in which such  automated  teller  machine  facility  is
located consenting to any such variance or exemption; and
(b)  written  certification  from  the  banking institution's security
officer, appointed in accordance with federal law, that, in his  or  her
professional   judgment,  either  the  variance  will  provide  security
measures which are substantially as safe as those  which  are  otherwise
required  by  this article or the exemption is warranted, as applicable;
and
(c) in the event the request for any such  variance  or  exemption  is
premised  upon  the  impracticability  or  burdensome expense that would
result from compliance with the security provisions  contained  in  this
article,  and  such  impracticability  or expense is attributable to the
manner in which the building in  which  such  automated  teller  machine
facility  is, or is to be, located, constructed, configured or otherwise
situated, written certification to  such  effect  from  an  expert  with
competence  in  the  areas  of  renovation  and/or  design,  as  may  be
appropriate; and
(d) such other evidence or information as the superintendent  may,  in
his or her sole discretion, deem appropriate or necessary.
2023 New York Laws › BNK - Banking › Article 2-AA - Atm Safety Act › 75-O - Severability.

§ 75-o.   Severability.   If  any  word,  phrase,  clause,  sentence,
  paragraph, section or part of this article  shall  be  adjudged  by  any
  court  of  competent jurisdiction to be invalid, such judgment shall not
  affect, impair  or  invalidate  the  remainder  thereof,  but  shall  be
  confined  in  its  operation  to  the  word,  phrase,  clause, sentence,
  paragraph, section or part thereof directly involved in the  controversy
  in which judgment shall have been rendered.
2023 New York Laws › BNK - Banking › Article 2-B - Financial Frauds › 78 - Powers With Respect to Certain Crimes and Frauds.

§ 78.  Powers  with  respect  to  certain  crimes  and  frauds. If the
  superintendent has a reasonable suspicion that a  person  or  entity  is
  engaging  in or has engaged in fraud (as interpreted under this chapter,
  the insurance law or the financial services law)  or  a  misdemeanor  or
  felony  under  this  chapter  or  one  of  the articles of the penal law
  enumerated in this section in connection with  activities  regulated  by
  the  superintendent  pursuant  to  this  chapter  or involving a product
  regulated pursuant to this chapter,  the  superintendent  may  undertake
  such  investigation  as  is  deemed necessary, and in the enforcement of
  this chapter, determine whether any such person or entity  has  violated
  or is about to violate this chapter or any such enumerated articles. The
  applicable articles of the penal law are article one hundred fifty-five,
  one  hundred seventy, one hundred seventy-five, one hundred seventy-six,
  one hundred eighty, one hundred eighty-five, one  hundred  eighty-seven,
  one  hundred  ninety,  two  hundred,  two  hundred  ten  or four hundred
  seventy. Notwithstanding the  above-referenced  laws  or  articles,  the
  scope  of  authority  set  forth  in this section shall not be deemed to
  otherwise limit or impair the ability of the department  to  assist  any
  other entity in an investigation involving a violation of law.
2023 New York Laws › BNK - Banking › Article 2-C - Community Bank Deposit Program › 85 - Community Bank Deposit Program; Purpose.

§  85.  Community bank deposit program; purpose. In recognition of the
  economic benefits and  stimulus  which  result  from  the  placement  of
  deposits  in  local  banks, the community bank deposit program is hereby
  created to  authorize  and  encourage  the  state  comptroller  and  the
  commissioner  of  taxation and finance to deposit a portion of the funds
  under their control into community banking institutions.
2023 New York Laws › BNK - Banking › Article 2-C - Community Bank Deposit Program › 86 - Eligibility.

§  86. Eligibility. 1. To be eligible to receive deposits, or to renew
  existing deposits under this program, a  bank,  trust  company,  savings
  bank  or  savings  and loan association: (a) must be chartered under the
  provisions of this chapter and (b) must have a  current  CRA  rating  of
  satisfactory  or  better.  The superintendent shall, if requested by the
  state comptroller or the commissioner of taxation and  finance,  confirm
  whether a particular banking institution meets the criteria specified in
  this section.
2.  A  federal  bank,  trust company, savings bank or savings and loan
  association may also be  eligible  to  receive  deposits,  or  to  renew
  existing  deposits,  under  this program if: (a) its principal office is
  located in this state; (b) it has a current CRA rating  of  satisfactory
  or  better;  and (c) it meets any additional criteria established by the
  comptroller and the commissioner of taxation and  finance  to  determine
  eligibility  for participation in the program. Such criteria may include
  an institution's loan to deposit ratio, its  record  of  small  business
  lending,  and  the impact such deposits would have on an area's economic
  activity.
2023 New York Laws › BNK - Banking › Article 2-C - Community Bank Deposit Program › 87 - Deposits.

§  87.  Deposits.  1.  Notwithstanding  any  provisions  of law to the
  contrary, the state comptroller and the  commissioner  of  taxation  and
  finance  shall,  for  the purposes of administering moneys in accordance
  with the provisions of sections ninety-eight-a and one hundred  five  of
  the state finance law, give consideration to depositing funds into those
  community  banking  institutions  which  are  deemed eligible to receive
  deposits pursuant to section eighty-six of this article.
2. The maximum amount of funds which the  state  comptroller  and  the
  commissioner  of  taxation  and  finance  may deposit under this program
  shall not exceed two hundred fifty million  dollars  each.  The  maximum
  amount  of funds on deposit at a community banking institution shall not
  exceed twenty million dollars.
3. Notwithstanding any provision of law to the contrary, any  deposits
  made  pursuant  to  this  article  shall  be made at rates, and for such
  periods of time, as may be agreed to by the  state  comptroller  or  the
  commissioner  of taxation and finance and the eligible community banking
  institution.
4. Any deposits made pursuant to this article may  be  secured  by  an
  irrevocable letter of credit issued by a federal home loan bank.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 94 - Change From Bank to Trust Company; From Trust Company to Bank.

§ 94. Change from bank to trust company; from trust company to bank.
A bank complying with the minimum capital stock requirements specified
  in  subdivision  nine  of  section four thousand one of this chapter may
  become a trust company by filing a certificate pursuant  to  subdivision
  two  of  section  eight  thousand one of this chapter to provide that it
  shall have the powers specified in section one hundred of this  article.
  A  trust  company  may become a bank by filing a certificate pursuant to
  subdivision two of section eight thousand one of this chapter to provide
  that it shall not have the powers specified in section  one  hundred  of
  this  article.    Prior  to  or  simultaneously  with the filing of such
  certificate, such trust company shall if its  title  contains  the  term
  "trust  company"  file  a  certificate  pursuant  to  subdivision two of
  section eight thousand one of this chapter for the purpose  of  omitting
  such term from its title.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 96-A - Servicing of Mortgages by Banks.

§ 96-a.  Servicing of mortgages by banks. 1. Every bank shall, subject
  to the restrictions and limitations contained in this article, have  the
  power  to service mortgages, and the superintendent shall have the power
  to prescribe, by specific or general regulation, the  extent  to  which,
  and the conditions upon which, mortgages may be serviced.
2.  No  bank  shall,  by  virtue  of  the provisions contained in this
  section,  be  deemed  to  have  the  powers  defined  and  described  in
  subdivision two of section one hundred of this article.
3.  The  grant of powers to banks by or pursuant to this section shall
  not be deemed to limit or  restrict  any  other  banking  organizations,
  heretofore  or  hereafter  organized,  in  the  exercise of their lawful
  powers.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 96-B - Payroll Payment by Banks or Trust Companies.

§ 96-b.  Payroll  payment  by banks or trust companies. l.  Every bank
  and trust company shall have the power to enter into contracts with  any
  municipal  corporation,  school  district, district corporation, town or
  county improvement district, public authority, or public corporation  to
  receive  in  a single payment, for each pay period, the total payroll of
  such corporations, districts or authorities  and  deposit  the  same  in
  accordance  with  the  terms  of  such  contract,  which  shall  include
  provision for deposits for withholding,  retirement  and  insurance,  if
  any.
2.  The  amount  due  each  employee shall be disbursed or credited in
  accordance with the directions of each employee to  saving  or  checking
  accounts, or loan or mortgage accounts within such bank or trust company
  or  to a single account in another bank or trust company or savings bank
  or savings and loan association or may be payable in cash or by check to
  such employee.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 96-C - Power to Act as Trustee Under Self-Employed Retirement Trust or Individual Retirement Trust.

§ 96-c.  Power  to act as trustee under self-employed retirement trust
  or individual retirement trust. Every bank without fiduciary powers may,
  subject  to  any  regulations  and  restrictions   prescribed   by   the
  superintendent  of financial services, act as trustee under a retirement
  plan established pursuant to the  provisions  of  the  act  of  congress
  entitled  "Self-employed Individuals Tax Retirement Act of 1962" as such
  provisions may be amended from time to time,  and  under  an  individual
  retirement  account  plan  established pursuant to the amendments to the
  provisions of the Internal Revenue Code contained in the act of congress
  entitled "Employee Retirement Income  Security  Act  of  1974"  as  such
  provisions  may  be  amended  from  time  to  time,  provided  that  the
  provisions of such retirement  or  individual  retirement  account  plan
  require  the  funds of such trust to be invested exclusively in deposits
  in banks, trust companies, savings banks, savings and loan  associations
  or  federal  savings  and  loan associations whose principal offices are
  located in this  state.  In  the  event  that  any  such  retirement  or
  individual  retirement  account plan, which in the judgment of the bank,
  constituted a qualified plan under the provisions of the applicable  act
  of  congress  hereinabove  mentioned  and  the  regulations  promulgated
  thereunder at the time the trust was established  and  accepted  by  the
  bank  is  subsequently  determined  not  to  be such a qualified plan or
  subsequently ceases to be such a qualified plan, in whole  or  in  part,
  the  bank  may, nevertheless, continue to act as trustee of any deposits
  theretofore made  under  such  plan  and  to  dispose  of  the  same  in
  accordance  with  the  directions of the depositor and the beneficiaries
  thereof. No bank, in respect to deposits made under this section,  shall
  be required to segregate such deposits from other deposits of such bank,
  provided,  however, that the bank shall keep appropriate records showing
  in proper detail all transactions engaged in under the authority of this
  section.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 98-A - Club Accounts.

§ 98-a.  Club  accounts.  1.  No  contract under which a bank or trust
  company agrees to repay deposits of fixed sums made at regular intervals
  at a given time with all interest or dividends credited thereon,  or  to
  repay  said  deposits when, together with interest or dividends credited
  thereon,  they  shall  equal  a  specified  sum,  may  provide  for  any
  forfeiture  of  the sums deposited in the event of the discontinuance of
  the regular  payments.  Interest  or  dividends  on  club  accounts,  if
  offered,  must  be  credited at least quarterly and may not be forfeited
  once credited, in the event of the discontinuance of regular payments.
2. Any bank which provides for deposits in club accounts shall, in all
  advertising, announcements or brochures  pertaining  to  such  accounts,
  state  whether  or  not  interest  or dividends are paid thereon and, if
  interest or dividends are paid, shall state the rate or form of interest
  or dividends so paid in accordance with any rules and  regulations  that
  may be prescribed by the superintendent.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 100 - Fiduciary Powers.

§ 100. Fiduciary  powers.  Every  trust company shall have, subject to
the  restrictions  and  limitations  contained  in  this  chapter,   the
following powers:
1.  To  act  as the fiscal or transfer agent of the United States, any
state, municipality, body politic or corporation; and in  such  capacity
to  receive  and  disburse  money, to transfer, register and countersign
certificates of stock, bonds or other evidences of indebtedness or other
securities, and to act as attorney in fact or agent  of  any  person  or
corporation, foreign or domestic, for any lawful purpose.
2.  To  act  as  trustee  under  any  mortgage  or bonds issued by any
municipality, body politic or  corporation,  foreign  or  domestic,  and
accept and execute any other municipal or corporate trust not prohibited
by the laws of this state.
3.  To  be  appointed and to act under the order or appointment of any
court of competent jurisdiction:
(a) As guardian, receiver, trustee, committee or  conservator  of  the
estate  of any minor, person with a mental disability, or conservatee or
in any other fiduciary capacity;
(b) As receiver, trustee, or committee of the property  or  estate  of
any person in insolvency or bankruptcy proceedings.
4.  To  be  appointed  and to accept the appointment of executor or of
trustee under the last will  and  testament  or  administrator  with  or
without the will annexed of the estate of any deceased person.
5.  To  take,  accept  and execute any and all such trusts, duties and
powers of whatever nature or description as may  be  conferred  upon  or
entrusted  or  committed  to  it  by  any person or persons, or any body
politic, corporation, domestic or foreign, or other authority by  grant,
assignment,  transfer,  devise,  bequest  or  otherwise, or which may be
entrusted or committed or transferred to it or vested in it by order  of
any  court  of competent jurisdiction, or any surrogate, and to receive,
take, manage, hold and dispose of according to the terms of such  trust,
duty  or  power,  any property or estate, real or personal, which may be
the subject of any such trust, duty or power.
Provided that no trust company shall have any right or power  to  make
any contract, or to accept or execute any trust whatever, which it would
not be lawful for any individual to make, accept or execute.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 100-D - Foreign Common Trust Funds.

§ 100-d.  Foreign common trust funds. Any banking corporation or trust
  company incorporated under the laws of another state which is  qualified
  to  act  as  executor  or testamentary trustee in this state pursuant to
  subdivision three of section one hundred thirty-one of the  banking  law
  may, when acting in either such capacity, invest any moneys received and
  held  by it in such capacity, either alone or in conjunction with one or
  more other persons acting with it in such capacity, in any common  trust
  fund  or funds maintained by it in accordance with the laws of the state
  of its incorporation; provided that the will under which  it  is  acting
  does  not  specifically prohibit such investment and that the will under
  which it is acting shall authorize the investment of such moneys in  any
  of  the  following;  (a)  in  such  a  common  trust  fund;  (b) in such
  investments as such fiduciary or fiduciaries under such will may  select
  in  the  discretion  of  such fiduciary or fiduciaries; (c) generally in
  investments other than those in which trustees are by law authorized  to
  invest  trust  funds; and provided that any banking corporation or trust
  company incorporated under the laws of this state is  permitted  by  the
  laws  of  the state of incorporation of such foreign banking corporation
  or trust company, when acting in  similar  fiduciary  capacity  in  that
  state,  to invest any moneys received and held by it in such capacity in
  any common trust fund or funds maintained by it in accordance  with  the
  laws of this state.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 101 - Additional Powers of Certain Trust Companies.

§ 101.  Additional  powers  of  certain  trust  companies. Every trust
  company which at the time this act takes effect lawfully  possesses  and
  exercises  the  power,  for  hire,  to examine titles to real estate, to
  procure and furnish information in relation thereto, and to guarantee or
  insure the title to real estate to  persons  interested,  in  such  real
  estate  or  in  mortgages  thereon, against loss, by reason of defective
  title or other encumbrances of or upon, such real estate, shall continue
  to possess such power, but no other trust company shall  hereafter  have
  or exercise such power.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 102 - Powers of Specially Chartered Trust Companies.

§ 102.  Powers  of  specially  chartered  trust companies. Every trust
  company incorporated by a special law shall possess the powers of  trust
  companies  incorporated  under this chapter and shall be subject to such
  provisions of this chapter as are not inconsistent with the special laws
  relating to such specially chartered company.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 102-A - Limited Liability Trust Companies.

§  102-a.  Limited liability trust companies. 1. Trust companies which
  (a) do not receive deposits from the general public and  (b)  have  been
  exempted   by   the   superintendent  of  financial  services  from  the
  requirements of section thirty-two of this chapter, may  be  formed  and
  operated  as  limited  liability trust companies. Such limited liability
  trust companies shall be formed in accordance  with,  shall  operate  in
  compliance  with,  and shall meet all of the requirements of the limited
  liability company law and this chapter, except that to  the  extent  any
  provision  of  the  limited  liability company law shall be inconsistent
  with the provisions of this chapter,  the  provisions  of  this  chapter
  shall  govern; provided, however, that limited liability trust companies
  shall not have perpetual existence.
2. Notwithstanding any other provision  of  this  chapter,  a  limited
  liability trust company shall dissolve and its affairs shall be wound up
  upon  the occurrence of any event specified in section seven hundred one
  of the limited liability company  law.  Upon  such  a  dissolution,  the
  provisions of this chapter shall govern the winding up of the affairs of
  the  limited liability trust company and the distribution of its assets.
  Further, upon such a dissolution, if the members of a limited  liability
  trust company wish to continue the existence of the company and meet the
  requirements  of  section  seven  hundred  one  of the limited liability
  company law, they shall apply for and may receive the  approval  of  the
  superintendent  for new articles of organization and a new authorization
  certificate.
3. Trust companies which have been formed and are  operating  pursuant
  to  this  article  and  article fifteen of this chapter on the effective
  date of this section, and which meet the requirements of subdivision one
  of this section,  may,  with  the  approval  of  the  superintendent  of
  financial  services,  convert  into  limited  liability trust companies,
  provided that they meet all of the other requirements of this chapter as
  if they were newly formed companies.
4. The superintendent is hereby authorized and empowered to make  such
  general  rules  and  regulations  as  may  be  necessary  and  proper to
  effectuate the provisions of this chapter relating to the formation  and
  operation of limited liability trust companies.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 105-A - Electronic Facilities.

§ 105-a.  Electronic facilities. A bank or trust company 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  clause  (ii)  of
  subdivision one of section  one  hundred  five  of  this  chapter,  such
  facilities  shall be deemed to be branches, and such facilities shall be
  subject to the terms and conditions of section one hundred five, 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 3 - Banks and Trust Companies › 105-B - Trust Offices.

§  105-b.  Trust  offices. 1. A trust company may establish or acquire
  and maintain one or more  trust  offices  anywhere  in  this  state,  or
  outside the state of New York, either in the United States or in foreign
  countries.
2.  A  trust  company  seeking  to establish or acquire and maintain a
  trust office  shall  submit  a  written  notice  to  the  superintendent
  describing  the  proposed  activities  and such other information as the
  superintendent shall request. The notice  shall  be  accompanied  by  an
  investigation  fee  as prescribed pursuant to section eighteen-a of this
  chapter.
3. The trust office may  commence  operation  thirty  days  after  the
  superintendent  receives such notice, unless the superintendent notifies
  the trust company in writing within such time period that the office may
  not commence  operation  or  that  additional  information  or  time  is
  required for the superintendent to consider such notice.
4.  The  superintendent  may  deny approval of the trust office if the
  superintendent finds that the maintenance of such office  would  not  be
  consistent  with  the  goals  set  forth  in  the  declaration of policy
  contained in section ten of this chapter.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 106 - Deposits by Banks and Trust Companies With Other Banking Corporations and Private Bankers; Restrictions.

§ 106.  Deposits  by  banks  and  trust  companies  with other banking
  corporations and private bankers; restrictions.   1. No  bank  or  trust
  company  shall  deposit  any  of  its  funds  with  any other foreign or
  domestic banking corporation or private banker in  an  amount  exceeding
  one  hundred per centum of the capital stock, surplus fund and undivided
  profits of  such  bank  or  trust  company  unless  such  other  banking
  corporation or private banker has been approved by the superintendent as
  a  depositary  for the purpose of this section, in which case the amount
  so deposited may equal but shall not  exceed  such  per  centum  of  the
  capital  stock, surplus fund and undivided profits of such bank or trust
  company as the superintendent shall approve.
2. The restrictions contained in  this  section  shall  not  apply  to
  deposits by any bank or trust company with a federal reserve bank.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 107 - Reserves Against Deposits.

§ 107.  Reserves  against  deposits.  1.  Every bank and trust company
  shall maintain total reserves against its demand and  time  deposits  in
  such  ratios  as  the  superintendent  of  financial  services  shall by
  regulation impose. If the principal office or any branch of such bank or
  trust company is located in a special requirement area, as designated in
  or pursuant to subdivision two  of  this  section  said  bank  or  trust
  company  shall maintain such additional reserves as may be prescribed by
  the superintendent of financial services.
2. The cities of Albany and Buffalo  and  the  boroughs  of  Brooklyn,
  Manhattan  and  The  Bronx  are hereby designated as special requirement
  areas. The superintendent of financial services may at any time  add  to
  the  number  of  cities  or  boroughs  designated as special requirement
  areas, or may terminate the designation of any city or borough as such.
3. Any part of total reserves may be deposited, subject to call,  with
  a  federal  reserve  bank  in  the  district in which such bank or trust
  company is located, or with reserve depositaries, and  the  reserves  on
  hand  not  so deposited shall consist of any form of currency authorized
  by the laws of the United States. Any bank or trust company which is  or
  shall  become a member of the federal reserve system shall maintain such
  reserves with a federal reserve bank as are required by or  pursuant  to
  the federal reserve act and so long as it complies with the requirements
  of  such  federal reserve act with reference to reserves shall be exempt
  from the preceding provisions of this section.
4. If any bank or trust company  shall  fail  to  maintain  its  total
  reserves  in  the  manner  prescribed and authorized by this section, it
  shall be liable to, and shall pay any assessment or  assessments  levied
  by  the superintendent pursuant to the provisions of article two of this
  chapter.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 107-A - Security for Public Deposits.

§ 107-a. Security for public deposits. 1. As used in this section, the
following terms shall have the following meanings:
(a)  "Public  depositary".  A bank, trust company or other depositary,
whether state or federally chartered,  authorized  to  accept  and  hold
deposits of public funds under the laws of this state.
(b) "Public funds". Funds of a political subdivision.
(c)   "Political   subdivision".  Any  municipal  corporation,  school
district,  board   of   cooperative   educational   services,   district
corporation,  special  improvement district governed by a separate board
of commissioners or a public library.
(d) "Public deposits". Deposits of public funds in a public depositary
which are available for all  uses  generally  permitted  by  the  public
depositary  to  the  depositing  political  subdivision for actually and
finally collected funds under the public depositary's account  agreement
or policies.
2.  Whenever  a  political  subdivision  is required by any general or
special law to obtain a pledge of assets or other security from a public
depositary for its public deposits and such  political  subdivision  has
entered into a written agreement with such public depositary relating to
such public deposits and has provided written notice in a form specified
by  such  written  agreement  to  the  public  depositary of such public
deposits, the public depositary shall comply with the provisions of such
law at the time it  accepts  any  public  deposits  from  the  political
subdivision;  provided,  however,  that  where the public depositary and
political subdivision have agreed in writing as to the maximum amount of
security which such depositary shall provide, and the terms,  conditions
and  timing  of  the  provisions  of  security pursuant thereto, and the
depositary has at all times complied with such agreement,  it  shall  be
deemed  to  have complied with the provisions of such law for so long as
it shall comply with such agreement.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 108-A - Acceptance of United States Currency.

§ 108-a.  Acceptance  of  United  States  currency.  No  bank or trust
  company 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 bank or trust  company  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 3 - Banks and Trust Companies › 110 - Surplus Fund; of What Composed, and for What Purposes Used.

§ 110.  Surplus  fund;  of  what composed, and for what purposes used.
  Every bank and every trust company shall create a fund to be known as  a
  surplus fund. Such fund may be created or increased by contributions, by
  transfers  from  undivided profits, or from net profits. Such fund shall
  not be available for the payment of dividends,  except  with  the  prior
  approval  of  the  superintendent,  and  may  be used to pay expenses or
  absorb losses only in the event  such  bank  or  trust  company  has  no
  undivided profits against which such expenses or losses may be charged.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 111 - Profits; Credits to Surplus Fund and to Undivided Profits.

§ 111.  Profits;  credits to surplus fund and to undivided profits. In
  any case where the combined capital stock, surplus  fund  and  undivided
  profits  of  a  bank or trust company do not equal ten per centum of its
  net deposit liabilities, the superintendent of financial services may in
  his or her discretion require such bank or trust company at the close of
  each accounting period to credit its surplus fund with a portion of  its
  net profits for such period, not to exceed ten per centum thereof, until
  its combined capital stock, surplus fund and undivided profits equal ten
  per  centum  of  its  net  deposit liabilities. For the purposes of this
  section, the term "net deposit liabilities" shall  mean  total  deposits
  including  all  amounts  due  to  national  banks, banks, bankers, trust
  companies and savings banks, the amounts due on certified and  cashier's
  checks,  and  for unpaid dividends less the amounts of balances due from
  national banks, banks, bankers, and trust companies and  cash  items  in
  process  of  collection  payable  immediately  upon  presentation in the
  United States.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 112 - Dividends; Payable From Net Profits; Restrictions.

§ 112.  Dividends;  payable  from  net  profits;  restrictions. 1. The
  directors of a bank or trust  company  may  annually,  semi-annually  or
  quarterly,   but   not   more   frequently   unless  authorized  by  the
  superintendent by regulation or otherwise,  declare  such  dividends  as
  they  deem  judicious  to be paid from net profits. No dividend shall be
  declared, credited or paid so long as there is any impairment of capital
  stock. No bank or  trust  company  having  outstanding  preferred  stock
  shall,  except  as  otherwise  authorized by the superintendent, declare
  dividends upon common stock for any period other than a period for which
  dividends are declared upon preferred stock.
2. The approval of the superintendent shall be required if  the  total
  of  all  dividends  declared  by a bank or trust company in any calendar
  year shall exceed the total of its net profits for  that  year  combined
  with  its  retained  net  profits  of  the preceding two years, less any
  required transfer to surplus  or  a  fund  for  the  retirement  of  any
  preferred stock.
3. For the purposes of this section, the term "net profits" shall mean
  the  remainder  of  all  earnings  from  current  operations plus actual
  recoveries on loans and investments and other  assets,  after  deducting
  from  the  total  thereof all current operating expenses, actual losses,
  accrued dividends on preferred stock, if any, and all federal and  state
  taxes.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 113 - Change of Location; Change of Designation of Principal Office.

§ 113.  Change of location; change of designation of principal office.
  Any bank or  trust  company  may  make  a  written  application  to  the
  superintendent,  such  application to be accompanied by an investigation
  fee as prescribed pursuant to section eighteen-a of  this  chapter,  for
  leave  to  change  its place or one of its places of business to another
  place 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. The 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 certificate
  authorizing the change of location, as provided in article two  of  this
  chapter,  the bank or trust company may, upon or after the day specified
  in the certificate, remove its property  and  effects  to  the  location
  designated therein.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 114 - Assessment of Stockholders to Make Good Impairment of Capital Stock; Sale of Stock.

§ 114.  Assessment  of stockholders to make good impairment of capital
  stock; sale of stock.
Whenever the superintendent shall have made requisition upon any  bank
  or  trust  company  pursuant  to  the  provisions of article two of this
  chapter to make good the amount of an impairment of its  capital  stock,
  the directors of the bank or trust company shall immediately give notice
  of  such  requisition  to  each  stockholder  and  of  the amount of the
  assessment which he must  pay  for  the  purpose  of  making  good  such
  deficiency, by a written or printed notice mailed to such stockholder at
  his  last  address  appearing  upon  the  records  of  the bank or trust
  company, or served personally upon him. If any stockholder shall  refuse
  or  neglect  to pay the assessment specified in such notice within sixty
  days from the date thereof, the directors of such bank or trust  company
  shall have the right to sell to the highest bidder at public auction the
  stock  of  such  stockholder,  after giving previous notice of such sale
  once a  week  for  two  successive  weeks  in  a  newspaper  of  general
  circulation  in  the  county  where the principal office of such bank or
  trust company is located; or such stock may be sold at private sale, and
  without such published notice, provided, however, that before  making  a
  private  sale  thereof  an offer in writing to purchase such stock shall
  first be obtained, and a copy thereof served upon the owner of record of
  the stock sought to be sold either personally or by mailing  a  copy  of
  such  offer to such owner at his last address appearing upon the records
  of the bank or trust company; and if, after service of such offer,  such
  owner  shall  still  refuse or neglect to pay such assessment within two
  weeks from the time of service of such offer,  the  said  directors  may
  accept  such  offer  and sell such stock to the person or persons making
  such offer, or to any other person or persons making a larger offer than
  the amount named in the offer submitted to such  stockholder;  but  said
  stock shall in no event be sold for a smaller sum than the amount of the
  assessment  called  for  and  the  necessary costs of sale.   Out of the
  avails of the stock sold the directors shall pay the necessary costs  of
  sale  and  the amount of the assessment called for thereon. The balance,
  if any, shall be paid to the person or persons whose stock has been thus
  sold. A sale of stock  as  herein  provided  shall  effect  an  absolute
  cancellation  of  the outstanding certificate or certificates evidencing
  the stock so sold, and shall render the same null and  void  and  a  new
  certificate  or  certificates  shall  be  issued  to  the  purchaser  or
  purchasers of said stock.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 122 - Examinations of Banks and Trust Companies by Directors; Employment of Assistants.

§ 122.  Examinations  of  banks  and  trust  companies  by  directors;
  employment of assistants.  1.   It shall be the duty  of  the  board  of
  directors  of  every  bank and every trust company once in each calendar
  year to examine, or cause a committee of at least three of  its  members
  to  examine,  such  bank or trust company for the purpose of determining
  its financial condition and reviewing its investment, loan and audit and
  control policies and in such examination particular attention  shall  be
  given  to  the  loans  or  discounts  made directly or indirectly to its
  officers or directors, or for the benefit of such officers or directors,
  or for the benefit of other  corporations  of  which  such  officers  or
  directors  are  also  officers  or  directors,  or  in which they have a
  beneficial interest as stockholders, creditors, or otherwise,  with  the
  special  view  of  ascertaining  their safety and present value, and the
  value of the collateral security, if any, held in connection  therewith,
  and  to  such  other  matters  as  the  superintendent may require. Such
  directors shall have the power to employ such assistants in making  such
  examination  as they may deem necessary, and shall employ the assistance
  of independent auditors  if  the  superintendent  deems  inadequate  the
  internal  auditing  and  control  procedures established by such bank or
  trust company. The various offices, departments and phases  of  business
  of  any such bank or trust company may be examined as of different dates
  during the year.
2. With respect to any bank or trust company subject to the provisions
  of  section  one  hundred  twelve  of  the  Federal  Deposit   Insurance
  Corporation  Act of 1991, as implemented by the provisions of part three
  hundred sixty-three of the rules and regulations of the Federal  Deposit
  Insurance  Corporation,  as  they  may  be  amended  from  time to time,
  compliance  with  such  provisions  shall  be  deemed  to  satisfy   the
  examination requirement of this section.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 123 - Reports of Directors' Examinations.

§ 123. Reports of directors' examinations.  1.  A report in writing of
  any examination made pursuant to the requirements of section one hundred
  twenty-two of this article, shall be presented to the board of directors
  of  such  bank  or  trust  company  at  their next regular meeting after
  completion of such examination, and placed on file in such bank or trust
  company,  and  a  duplicate  thereof  filed  in  the   office   of   the
  superintendent.  Such  report  shall  contain  such  information  as the
  superintendent shall require.
2. A report prepared pursuant to part three hundred sixty-three of the
  rules and regulations of the Federal Deposit Insurance  Corporation,  as
  the  same  may be amended from time to time, may, in the sole discretion
  of the  superintendent,  satisfy  the  reporting  requirements  of  this
  section.
3.  Any report filed in the office of the superintendent shall include
  a certificate that such report was presented to the board of  directors,
  in the form prescribed by the superintendent.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 124 - Communications From Department of Financial Services to Be Submitted to Directors and Noted in Minutes.

§ 124.  Communications  from  department  of  financial services to be
  submitted to directors and noted in minutes. Any officer of  a  bank  or
  trust  company  who  receives  from  the office of the superintendent an
  official communication as defined in article two of this  chapter  shall
  submit  such communication to the board of directors at the next meeting
  of such board, and such communication shall be duly noted in the minutes
  of the meetings of such board.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 125 - Reports to Superintendent; Penalty for Failure to Make.

§ 125.  Reports  to  superintendent;  penalty  for failure to make. 1.
  Within fifteen days after service upon it of the notice provided for  by
  section thirty-seven of this chapter, every bank and every trust company
  shall   make  a  written  report  of  its  financial  condition  to  the
  superintendent, which report shall be in  such  form  and  contain  such
  information as the superintendent of financial services may prescribe.
2.  Every  bank  and  every  trust  company shall also make such other
  special reports to the superintendent  as  he  may  from  time  to  time
  require,  in  such form and at such date as may be prescribed by him and
  such reports shall, if required by him, be subscribed  and  affirmed  as
  true under the penalties of perjury.
3. If any bank or trust company shall fail to make any report required
  by  or pursuant to this section, on or before the day designated for the
  making thereof, or shall fail to include therein any prescribed  matter,
  such  bank  or trust company shall forfeit to the people of the state an
  amount as determined pursuant to section forty-four-a  of  this  chapter
  for  every  day  that  such report shall be delayed or withheld, and for
  every day that it shall fail to report any such omitted  matter,  unless
  the  time  therefor  shall  have  been extended by the superintendent as
  provided in article two of this chapter.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 128 - Preservation of Books and Records.

§ 128.  Preservation  of books and records. Every bank and every trust
  company shall preserve all its records of final entry,  including  cards
  used under the card system and deposit tickets, for a period of at least
  six  years from the date of making the same or from the date of the last
  entry thereon; provided,  however,  that  preservation  of  photographic
  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 banks and trust companies as fiduciary shall
  be preserved in original form.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 129 - Requirement of Notice on Withdrawal of Certain Time Deposits; Notice to Superintendent.

§ 129.  Requirement  of notice on withdrawal of certain time deposits;
  notice to superintendent. In the event that any bank  or  trust  company
  shall  elect to require that thirty or more days' notice be given before
  time deposits  payable  only  on  presentation  of  a  passbook  may  be
  withdrawn  the bank or trust company shall upon the day such election is
  made notify the superintendent thereof by telephone or telegraph.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 129-A - Requirement of Written Notification; Alternative Payment Schedules.

§  129-a.  Requirement  of  written  notification; alternative payment
  schedules. In the event that any bank or trust company  shall  permit  a
  customer  to  establish  an alternative payment schedule for an existing
  loan, the bank or trust company shall provide written notification  that
  accepting  such  alternative payment schedule may have a negative impact
  on such customer's credit score or rating. Such  notification  shall  be
  provided  at  the time a loan application is made, at the time a loan is
  granted and at the time a customer requests that an alternative  payment
  schedule   be   established   for  a  loan,  but  prior  to  the  actual
  establishment of an alternative payment schedule.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 132 - Use of Sign, or Words, Indicating Bank or Trust Company by Unauthorized Persons Prohibited.

§ 132.  Use  of  sign,  or  words, indicating bank or trust company by
  unauthorized persons prohibited.
No person, except a national  bank,  a  federal  reserve  bank,  or  a
  corporation  duly  authorized by the superintendent to transact business
  in this state, shall make use of any office sign at the place where such
  business is transacted having thereon any artificial or corporate  name,
  or  other  words  indicating  that  such place or office is the place of
  business or office of a bank or trust company; nor shall any such person
  or persons make use of or circulate any  letterheads,  billheads,  blank
  forms,  notes,  receipts,  certificates,  circulars,  or  any written or
  printed or partly written and  partly  printed  paper  whatever,  having
  thereon  any  artificial  or  corporate  name,  or  other word or words,
  indicating that such business  is  the  business  of  a  bank  or  trust
  company; provided, however, that nothing in this section shall be deemed
  to  prevent  a  bank holding company from using any corporate name it is
  duly authorized to use under subdivision (b) of  section  three  hundred
  two of the business corporation law.