reglab/statecodes huggingface dataset:
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 133 - Use of Banking Institution Name.

§  133.  Use  of  banking institution name. 1. No person shall use the
name of a banking institution when advertising, marketing or  soliciting
business which is likely to induce, directly or indirectly, the purchase
of goods or services, if the reference to such institution is:
(a) without the consent of the banking institution; and
(b)  which  would  cause  a  reasonable  person  to  conclude that the
advertising or marketing  material  or  solicitation  either  originated
from,  or  is  endorsed  by  or is any other way the responsibility of a
banking institution.
2. Nothing in this section shall prohibit the use of or  reference  to
the  name of a banking institution in advertising or marketing materials
or solicitations, if the use or reference to such institution  does  not
deceive or confuse a reasonable person regarding whether the advertising
or  marketing  material  or  solicitation  (a)  originated  from, (b) is
endorsed by or (c) is in any other way the responsibility of  a  banking
institution.
3.  The  department  is  authorized  to enforce the provisions of this
section.
4. For purposes of this section, "banking institution" shall mean  any
state  or federally chartered bank, trust company, savings bank, savings
and loan association or credit union which has an office  or  branch  in
this  state,  or  a  private  banker, safe deposit company or investment
company.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 136-A - Purchase of Assets of National Banking Association by Bank or Trust Company.

§ 136-a. Purchase of assets of national banking association by bank or
  trust  company. 1. A state bank or trust company may acquire, whether by
  purchase or otherwise, other than by merger, all or a  substantial  part
  of  the  assets  of  a  national  banking association, provided that the
  action taken complies with federal law.
2. In the case of each such acquisition, a written plan providing  for
  the  acquisition  by  the  bank  or  trust  company of the assets of the
  national banking association shall be submitted, in  duplicate,  by  the
  bank  or trust company to the superintendent. Such plan shall be in form
  satisfactory to the superintendent, shall specify the  selling  and  the
  acquiring  corporation,  and shall prescribe the terms and conditions of
  the acquisition and the mode of carrying it into effect.
At the time of submission for action  by  the  superintendent  of  the
  written   plan  of  acquisition  of  assets,  an  investigation  fee  as
  prescribed pursuant to section eighteen-a of this chapter shall be  paid
  to the superintendent.
3.  With  such  plan  of  acquisition  of  assets  there shall also be
  submitted, in duplicate, to the superintendent the following: (a) by the
  national banking association, a certificate of the president,  secretary
  or cashier of such association certifying that all steps have been taken
  which  are necessary under federal law to the sale of its assets; (b) by
  the bank or trust  company,  if  the  assets  of  the  national  banking
  association  exceed  ten  per  centum of the assets of the bank or trust
  company, a certificate of the president, secretary or cashier certifying
  that such plan has been approved  by  the  board  of  directors  of  his
  corporation by a majority vote of all the members thereof, and that such
  plan was thereafter submitted to the stockholders of such corporation at
  a  meeting thereof held upon notice of at least fifteen days, specifying
  the time, place, and object  of  such  meeting  and  addressed  to  each
  stockholder  at  the address appearing upon the books of the corporation
  and published at least once a week  for  two  successive  weeks  in  one
  newspaper  in  the  county  in  which  the bank or trust company has its
  principal place of business and that such plan has been approved at such
  meeting by the vote of stockholders owning at least two-thirds in amount
  of the stock of such corporation.
4. Nothing contained in this section one hundred thirty-six-a shall be
  construed to prohibit any other purchase of assets  which  is  otherwise
  permitted by applicable law.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 136-B - Approval of Superintendent.

§ 136-b.  Approval of superintendent. The superintendent shall approve
  or disapprove of a proposed merger as authorized by section one  hundred
  thirty-six  of  this  article  or  a  proposed  acquisition  of all or a
  substantial part of the assets of  a  national  banking  association  as
  authorized  by  section one hundred thirty-six-a of this article, as the
  case may be, within one hundred twenty days after the submission of  the
  proposed  plan  thereof  to  him  or  her.  In determining whether to so
  approve, the  superintendent  shall  take  into  consideration  (i)  the
  declaration  of  policy  contained  in section ten of this chapter, (ii)
  whether the effect of such merger or  acquisition  shall  be  either  to
  expand  the  size  or  extent  of the resulting or acquiring institution
  beyond limits  consistent  with  adequate  and  sound  banking  and  the
  preservation  thereof  or  result  in  a  concentration of assets beyond
  limits consistent with effective competition, (iii) whether such  merger
  or  acquisition  may  result in such a lessening of competition as to be
  injurious to the interests of the public or  tend  toward  monopoly  and
  (iv)  primarily,  the  public  interest  and  the  needs and convenience
  thereof. If the superintendent shall approve  such  proposed  merger  or
  acquisition,  he  or  she  shall  file  the  plan,  together  with  such
  certificates and the original of the approval of the superintendent,  in
  the  office  of  the  superintendent,  and,  in  the  case  of merger, a
  duplicate of the plan,  together  with  a  duplicate  of  each  of  such
  certificates  and a duplicate of the superintendent's approval, shall be
  filed in the office of the clerk of the county in  which  the  principal
  office  of the receiving corporation is located. Upon such filing in the
  office of the superintendent, the merger  or  acquisition  shall  become
  effective,  unless a later date is specified in the plan, in which event
  the merger or acquisition shall become effective upon such later date.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 136-C - Effect of Merger or Conversion of National Banking Association Into State Bank.

§ 136-c.   Effect   of   merger  or  conversion  of  national  banking
association into state bank. 1. At the time when a merger or  conversion
under  sections  one  hundred thirty-six and one hundred thirty-six-b of
this chapter becomes effective.
(a) the resulting state bank shall be considered the same business and
corporate entity as the national banking  association,  although  as  to
rights, powers and duties, the resulting bank is a state bank;
(b) all of the property, rights, powers and franchises of the national
banking  association  shall  vest  in  the  resulting state bank and the
resulting state bank shall be subject to and be deemed to  have  assumed
all  of  the  debts, liabilities, obligations and duties of the national
banking association and to have succeeded to all of  its  relationships,
fiduciary  or  otherwise,  as  fully  and  to the same extent as if such
property, rights, powers, franchises, debts,  liabilities,  obligations,
duties  and  relationships  had  been  originally  acquired, incurred or
entered into by the resulting state bank; provided,  however,  that  the
resulting  state  bank  shall  not,  through  such conversion or merger,
acquire power to engage in  any  business  or  to  exercise  any  right,
privilege  or franchise which is not conferred by the provisions of this
chapter upon such resulting state bank;
(c) any reference to the national banking association in any contract,
will or document, whether executed or taking effect before or after  the
conversion  or  merger, shall be considered a reference to the resulting
state bank  if  not  inconsistent  with  the  other  provisions  of  the
contract, will or document;
(d)  a  pending  action  or  other  judicial  proceeding  to which the
national banking association is a party, shall not  be  deemed  to  have
abated  or  to  have discontinued by reason of the conversion or merger,
but may be prosecuted to final judgment, order or  decree  in  the  same
manner  as  if  the  conversion  or  merger  had  not  been made; or the
resulting state bank may be substituted as a party  to  such  action  or
proceeding,  and  any  judgment,  order or decree may be rendered for or
against it that might have been rendered for  or  against  the  national
banking association if the conversion or merger had not occurred.
2.  As  used  in  this  section, the term "state bank" means a bank or
trust company.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 139 - Saving Clause.

§ 139.  Saving  clause.  All banks which shall have been authorized by
  the  superintendant  to  exercise  fiduciary  powers  pursuant  to  this
  chapter,  as  from  time  to  time  in  effect,  shall be known as trust
  companies subject to the provisions of this article applicable to  trust
  companies,  but nothing contained in this chapter shall require any such
  bank to change its name to include the term "trust company".  All  trust
  companies  organized under or subject to the provisions of this chapter,
  as from time to time in effect, shall be subject to all  the  provisions
  of this article applicable to trust companies. Notwithstanding any other
  provision or law, a corporation formed under this article to acquire the
  banking  business  previously  done  by  a  partnership  doing  business
  pursuant to this chapter may have as its corporate name the  name  under
  which  such  partnership  did  business,  with the addition of a word or
  words, indicating that it is a corporation.
2023 New York Laws › BNK - Banking › Article 3 - Banks and Trust Companies › 140-A - Stock Option Plans.

§ 140-a.   Stock   option  plans.  Subject  to  such  regulations  and
  restrictions as may be prescribed by the superintendent, every bank  and
  every  trust  company  may  grant  options  to  purchase  authorized and
  unissued  shares  of  its  capital  stock  to  officers,  directors  and
  employees,  for  a  consideration as authorized by section five thousand
  four of this chapter of not less than one hundred per cent of  the  fair
  market  value  of the shares on the date the option is granted, pursuant
  to the terms of a stock option plan which has previously been adopted by
  the board of directors of the bank or trust company and approved by  the
  holders  of a majority of the outstanding shares of capital stock of the
  bank or trust company and by the superintendent.  Stock  options  issued
  hereunder  shall  not  extend  beyond a period of ten years from date of
  issuance.
2023 New York Laws › BNK - Banking › Article 3-A - Bank Holding Companies; Control of Banking Institutions › 142 - Limitations On, and Regulation Of, Bank Holding Companies.

§ 142.  Limitations  on, and regulation of, bank holding companies. 1.
  It shall be unlawful for any person knowingly  to  borrow,  directly  or
  indirectly,  any  money  or  property  for  the purpose of enabling such
  person to pay for or to hold shares of stock of a bank  holding  company
  from  any subsidiary of such bank holding company, unless such borrowing
  is made upon security having an ascertained market  value  of  at  least
  fifteen  per  centum  more than the amount thereof. Any person knowingly
  violating the provisions of this subdivision shall,  for  each  offense,
  forfeit to the people of the state twice the amount of such borrowing.
2.  Except  in  conformity  with  such rules and regulations as may be
  promulgated  by  the  superintendent,  it  shall  be  unlawful  for  any
  executive  officer  or  director of a bank holding company to borrow any
  sum of money from any subsidiary of such  bank  holding  company.  Every
  executive officer or director of such bank holding company violating the
  provisions  of  this subdivision shall, for each offense, forfeit to the
  people of the state twice the amount of such borrowing or borrowings.
2023 New York Laws › BNK - Banking › Article 3-A - Bank Holding Companies; Control of Banking Institutions › 142-A - Limitation on Acquisition of Newly Chartered Banking Institutions.

§ 142-a.   Limitation   on  acquisition  of  newly  chartered  banking
  institutions. 1. No bank holding company  may  acquire  control  of  any
  banking  institution  which  has been chartered for less than five years
  and has its principal office in a city or village with a  population  of
  fifty  thousand or less if the principal office of a bank, trust company
  or national bank the principal office of which institution is located in
  this state and which institution is not a subsidiary of a  bank  holding
  company  is  located in such city or village; provided, however, such an
  acquisition may be consummated upon the  obtaining  of  the  appropriate
  supervisory approvals if: (a) application is pending for the institution
  being  acquired  to  merge with or acquire the assets of another banking
  institution having its principal office in the same city or village  and
  chartered  for over five years, or if; (b) the superintendent finds that
  the banking institution being acquired was  not  chartered  directly  or
  indirectly   by  the  acquiring  bank  holding  company,  its  officers,
  directors or stockholders, and does not have the capacity to continue to
  conduct its business independently in  a  fashion  consistent  with  the
  public interest and the interests of depositors, creditors, shareholders
  and stockholders.
2.  As  used in this section, the term "control" means the possession,
  directly or indirectly, of the power to direct or cause the direction of
  the management and policies of a banking  institution,  whether  through
  the ownership of voting stock of such banking institution, the ownership
  of  voting stock of any company which possesses such power or otherwise.
  Control  shall  be  presumed  to  exist  if  any  company,  directly  or
  indirectly,  owns,  controls  or  holds  with  the power to vote ten per
  centum or more of the voting stock of any banking institution or of  any
  company  which owns, controls or holds with power to vote ten percent or
  more of the voting stock of such  banking  institution,  but  no  person
  shall be deemed to control a banking institution solely by reason of his
  being  an officer or director of such banking institution or company. As
  used in this section, the terms  "bank  holding  company"  and  "banking
  institution"  shall  have the meanings as defined in section one hundred
  forty-one of this article, except that the definition of  "bank  holding
  company"  is  modified  to  change  the  phrase  "a banking institution"
  wherever it appears therein to "two or more  banking  institutions"  and
  the  definition  of  "banking institution" is modified to add a national
  banking association, the principal office of which is  located  in  this
  state.
3.  As  used  in this section, the term "village" shall mean either an
  incorporated or unincorporated village.
2023 New York Laws › BNK - Banking › Article 3-A - Bank Holding Companies; Control of Banking Institutions › 145 - Penalties; Restraining Orders and Injunctions.

§ 145.  Penalties;  restraining orders and injunctions. 1. Any company
  which wilfully violates any provision of this article  is  guilty  of  a
  misdemeanor and upon conviction thereof shall be fined not more than one
  thousand dollars for each day during which such violation continues.
2.  Any  individual  who  wilfully  participates in a violation of any
  provision of this article is guilty of a misdemeanor and upon conviction
  thereof shall be fined not more than ten thousand dollars  or  shall  be
  imprisoned not more than one year, or both.
3.  If  any  action violates or would violate any of the provisions of
  this article, the superintendent or his duly authorized agent may  apply
  to  the supreme court of this state for the enforcement of this article;
  and such court shall have jurisdiction to enforce obedience thereto,  to
  order  divestment  of  stock  illegally  acquired,  held  or  voted,  by
  injunction or by other process, mandatory or otherwise, and to  restrain
  violation of this article.
2023 New York Laws › BNK - Banking › Article 3-A - Bank Holding Companies; Control of Banking Institutions › 146 - Saving Provision.

§ 146. Saving provision. Nothing herein contained shall be interpreted
  or  construed  as  approving  any act, action or conduct which is or has
  been or may be in violation of existing law, nor shall  anything  herein
  contained  constitute  a  defense  to  any  action, suit, or proceeding,
  pending or hereafter instituted  on  account  of  any  act,  action,  or
  conduct prohibited by law.
2023 New York Laws › BNK - Banking › Article 3-A - Bank Holding Companies; Control of Banking Institutions › 147 - Separability of Provisions.

§ 147.  Separability  of provisions. If any provision of this article,
  or the application of such  provision  to  any  individual,  company  or
  circumstance,  shall  be held invalid, the remainder of the article, and
  the  application  of  such  provision  to  individuals,   companies   or
  circumstances other than those to which it is held invalid, shall not be
  affected thereby.
2023 New York Laws › BNK - Banking › Article 3-B - Subsidiary Trust Companies › 150 - Definitions.

§ 150.  Definitions.  1. "Subsidiary trust company", when used in this
  article, means a trust company which is subject  to  the  provisions  of
  this article.
2. "Bank holding company" and "subsidiary", when used in this article,
  shall  each  have  the  same  meaning  specified  in section one hundred
  forty-one of this chapter.
3. "Owning bank holding company",  when  used  in  this  article  with
  respect  to  a  subsidiary trust company, means the bank holding company
  which owns all of the outstanding voting stock of such subsidiary  trust
  company.
4.  When  used  in  this  article, an "affiliated bank" or "affiliated
  trust company" of a subsidiary  trust  company  means  any  bank,  trust
  company,  savings  bank,  savings  and  loan association, national bank,
  federal savings bank, federal savings association, or out-of-state state
  bank (as such term is defined in section two hundred twenty-two of  this
  chapter),  or  such  other  banking institution as the superintendent of
  financial services  may  permit  specifically  or  by  general  rule  or
  regulation, which is a subsidiary of the bank holding company which owns
  such subsidiary trust company.
5.  "Trust  office",  when  used  in  this  article  with respect to a
  subsidiary trust company,  means  an  office  of  the  subsidiary  trust
  company maintained for the purpose of conducting its business.
6.  "Trust officer", when used in this article with respect to a trust
  company which is  not  a  subsidiary  trust  company,  means  an  office
  maintained solely for the purpose of conducting business relating to the
  exercise of its fiduciary powers.
2023 New York Laws › BNK - Banking › Article 3-B - Subsidiary Trust Companies › 151 - Organization of Subsidiary Trust Companies.

§ 151.  Organization of subsidiary trust companies. A subsidiary trust
  company shall be organized in accordance with  the  provisions  of  this
  chapter  relating  to  the  organization  of trust companies. All of the
  outstanding voting stock of a subsidiary trust company shall be owned by
  a bank holding company.
2023 New York Laws › BNK - Banking › Article 3-B - Subsidiary Trust Companies › 152 - Business of Subsidiary Trust Companies; Limitation on Powers.

§ 152. Business of subsidiary trust companies; limitation on powers. A
  subsidiary trust company shall have all of the powers of and be entitled
  to engage in the business of a trust company, provided that a subsidiary
  trust company shall not have the power to accept deposits.
2023 New York Laws › BNK - Banking › Article 3-B - Subsidiary Trust Companies › 153 - Offices.

§ 153. Offices. Notwithstanding the provisions of sections twenty-nine
  and one hundred five of this chapter, (a) a subsidiary trust company may
  open  and  occupy a trust office, including its principal office, at any
  one or more locations in the state of New York at which the owning  bank
  holding  company,  any  affiliated bank, or any affiliated trust company
  has a banking office, and (b) an affiliated trust company may  open  and
  occupy  a  trust  office  at  the  location  in  the state at which such
  subsidiary trust company has its principal office.  A  subsidiary  trust
  company  or  an  affiliated  trust  company,  as  the case may be, which
  proposes to open and occupy a trust  office  pursuant  to  this  section
  shall  make written application to the superintendent for leave to do so
  in the manner provided in  section  twenty-nine  of  this  chapter  with
  respect  to branch offices and shall pay the investigation fee specified
  therein.
2023 New York Laws › BNK - Banking › Article 3-B - Subsidiary Trust Companies › 155 - Applicable Laws and Regulations.

§ 155. Applicable laws and regulations. To the extent not inconsistent
  with  provisions  of  this  article, a subsidiary trust company shall be
  subject to the laws of the state of New  York  generally  applicable  to
  trust  companies.  Nothing  in this article shall be deemed to affect in
  any way the powers of the superintendent of financial services to adopt,
  alter or amend rules and regulations with respect  to  trust  companies,
  provided  that  no  such  rule  or  regulation  shall be applicable to a
  subsidiary trust company to the  extent  it  is  inconsistent  with,  or
  purports  to  limit  the  powers or rights of a subsidiary trust company
  expressly granted by, the provisions of this article.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 160 - Verified Certificate.

§ 160. Verified certificate. Any individual or partnership desiring to
  engage   in   business   as   a  private  banker  shall  submit  to  the
  superintendent a verified certificate in duplicate which shall state:
1. The full name, residence and post office address of such individual
  or of each member of such partnership.
2. The state or  country  of  which  each  individual  named  in  such
  certificate is a citizen.
3. The amount of permanent capital such individual or partnership will
  invest  in his business as a private banker which shall be not less than
  one million dollars.
4. The place where his office is to be located.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 161 - Authorization Certificate.

§ 161. Authorization certificate. If the superintendent shall issue an
  authorization  certificate  as  provided in article two of this chapter,
  such individual or partnership may engage in  the  business  of  banking
  including  receiving deposits subject to check or for repayment upon the
  presentation of a pass book, certificate of deposit or other evidence of
  debt, or upon the request of the depositor, or in the discretion of such
  individual,  or   partnership;   receiving   money   for   transmission;
  discounting  or  negotiating promissory notes, drafts, bills of exchange
  or other evidences of debt; and buying  or  selling  exchange,  coin  or
  bullion  at  the  location  specified in such authorization certificate,
  subject to all  the  restrictions  and  limitations  contained  in  this
  chapter.  In  conducting  such business a private banker may make use of
  the words "bank," "banker" or  "banking"  or  their  equivalent  or  any
  derivative or compound thereof.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 162 - Permanent Capital; Increase or Decrease.

§ 162.  Permanent  capital; increase or decrease. Every private banker
  shall keep unimpaired in his banking business the  amount  of  permanent
  capital  specified in his verified certificate.  From time to time, with
  the written approval of the superintendent and upon  good  cause  shown,
  such permanent capital may be increased or decreased.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 163 - Restrictions as to Place of Business.

§ 163.  Restrictions  as to place of business. The office of a private
  banker shall not be located  in  the  same  room  with,  or  in  a  room
  connecting  with,  any  bank,  trust  company, savings bank, or national
  bank.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 164 - Change of Location.

§ 164.  Change  of  location.  Any  private  banker may make a written
  application to the superintendent to change the location of  his  office
  to  another  place  in  the  same city or village. The application shall
  state the reason for such proposed change and shall be verified by  such
  private  banker,  or  if  such  private  banker  is  a partnership, by a
  majority of  the  members  thereof,  and  shall  be  accompanied  by  an
  investigation  fee  as prescribed pursuant to section eighteen-a of this
  chapter. Such change may be  made  upon  the  written  approval  of  the
  superintendent.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 165 - Segregation of Investments; Title to Be Taken in Descriptive Name.

§ 165.  Segregation  of  investments; title to be taken in descriptive
  name. 1. Every private banker shall  segregate  and  keep  separate  and
  apart   from  all  other  property  and  assets  of  the  individual  or
  partnership all securities and property,  and  the  evidences  of  title
  thereto,  in which funds held by him as a private banker and the surplus
  used by him in his private banking  business  have  been  invested.  The
  phrase  "funds held by him as a private banker" shall for the purpose of
  this chapter mean such private banker's  permanent  capital  and  moneys
  received by him on deposit.
2.  All  conveyances,  deeds,  mortgages,  assignments,  contracts and
  agreements received, taken, or entered into by any  private  banker,  in
  connection  with  his  banking  business,  shall  be received, taken, or
  entered into in the firm name if such private banker is a partnership or
  in the name of such private banker with the addition of the  descriptive
  name "private banker" if such private banker is not a partnership.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 166 - Depositors Preferred in Case of Failure or Suspension.

§ 166. Depositors preferred in case of failure or suspension.  In case
  of  the  failure  or  suspension  of  any  private banker, the claims of
  persons for money on deposit or  delivered  for  transmission  shall  be
  preferred  against  such  assets  as shall be shown by the books of such
  private banker, or by other legal evidence, to have  been  derived  from
  the  investment  of  such  moneys,  or  from the investment of permanent
  capital, such claimants shall also share pro rata with  other  creditors
  in any other assets of such individual or of such partnership and of the
  individual members thereof.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 167 - Reserves Against Deposits.

§ 167.  Reserves against deposits. Every private banker shall maintain
  total reserves against his deposits of the same amount and kind  and  on
  hand  or  on deposit to the same extent as is at the time required by or
  pursuant to the provisions of this chapter of a bank doing  business  in
  the same place.
If  any private banker shall fail to maintain the reserves required by
  this section, he shall be liable  for  and  shall  pay  any  assessments
  levied by the superintendent as provided in article two of this chapter.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 168 - Restrictions on Acceptance of Deposits and Payment of Interest.

§ 168. Restrictions on acceptance of deposits and payment of interest.
No private banker shall:
(1)  Accept  any  amount  for  deposit if after the acceptance of such
amount the average amount of the deposits received from  all  depositors
during  the  twelve  month  period  ending  upon the day upon which such
deposit is tendered, or during such period, if less than twelve  months,
that  such  private  banker  has been engaged in business, would be less
than one thousand dollars. The term "deposit" as used in this  paragraph
shall  mean  coin  or  currency  of  the United States or of any foreign
country, and checks, drafts and other funds  credited  by  such  private
banker to the account of any one depositor on any one day, but shall not
include  dividend  checks,  coupons, or other similar items collected by
such private banker for the account of a depositor, or remittances  made
by  a  depositor  for  the purpose of repaying, in whole or in part, any
existing indebtedness due to such private banker, or  interest  credited
by  such  private  banker  to  the  account  of  a depositor, or amounts
delivered for transmission; or
(2) Pay or credit interest, or  pay,  credit  or  give  any  bonus  or
gratuity  or  thing  of value, on any deposit balance, if the average of
the daily credit balances in such deposit account during the period  for
which  interest  is  paid  or  credited is less than seven thousand five
hundred dollars.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 172 - Restrictions on Investments.

§ 172.  Restrictions  on  investments.  1.  Every  private banker may,
  subject to the limitations and restrictions contained in  this  article,
  make  such  investments of funds held by him as a private banker in real
  or personal securities, or personal property,  as  are  consistent  with
  safety and prudence of management.
2.  No  private banker shall appropriate to his own use or lend to any
  person with whom he is  associated  as  a  partner,  or  invest  in  any
  business  conducted  by a partnership of which he is a member, any funds
  held by him as a private banker.
3. No private banker shall, after  June  thirtieth,  nineteen  hundred
  thirty-eight,  make  with funds held by him as a private banker any loan
  to, or investment in the capital stock  of,  any  corporation  of  which
  fifty per centum of the capital stock is owned or controlled directly or
  indirectly,  or  as a result of any such investment would be so owned or
  controlled by such private  banker,  as  a  private  banker  and  as  an
  individual,  or  if  such  private  banker  is  a  partnership,  by such
  partnership and the individual members thereof, if as a  result  thereof
  the total amount of outstanding loans and investments so made after such
  date will exceed ten per centum of his permanent capital with respect to
  any  one  such corporation, or will exceed twenty-five per centum of his
  permanent capital with respect to all such corporations.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 174 - Restrictions on Purchases Of, and Loans on Real Estate.

§ 174.  Restrictions on purchases of, and loans on real estate.  1. No
  private banker shall purchase with funds held by him as  private  banker
  any  real  estate  except a plot upon which there is or may be erected a
  building suitable for the convenient transaction of  his  business;  nor
  make a loan of such funds upon the security of real estate, if such real
  estate  is  unimproved, in excess of two-thirds, and if such real estate
  is improved by a building or  buildings  or  is  to  be  improved  by  a
  building  or buildings in the process of construction, the major portion
  of which building or buildings is used, or in the  case  of  a  building
  under   construction   is   to   be  used,  for  residential,  business,
  manufacturing or agricultural purposes, in excess of  three-fourths,  of
  the  appraised  value  of  such  real estate, or in an amount which when
  added to the amount unpaid upon prior mortgages, liens and  encumbrances
  upon  such  real  estate exceeds the foregoing respective proportions of
  such appraised value, or if such real  estate  is  subject  to  a  prior
  mortgage,  lien  or  encumbrance  and  the amount unpaid upon such prior
  mortgage, lien or encumbrance or the aggregate amount  unpaid  upon  all
  prior  mortgages,  liens  and encumbrances exceeds ten per centum of the
  permanent capital of such private banker.
2. All real estate acquired by a private  banker  in  satisfaction  or
  reduction  of  loans  of funds held by him as a private banker, shall be
  sold within five years from the date  of  its  acquisition,  unless  the
  superintendent  upon application shall extend the time within which such
  sale shall be made.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 175 - Books and Records.

§ 175.  Books and records. 1. Every private banker shall keep separate
  and complete books of account in which shall  be  promptly  entered  the
  details  of all business transacted by him as a private banker including
  statements in detail of the liabilities incurred by  him  as  a  private
  banker and of the securities or property in which funds held by him as a
  private banker have been invested.
2.  Every  private  banker shall conform his or her methods of keeping
  his or her books and records to such orders in respect thereto as  shall
  have been made and promulgated by the superintendent pursuant to article
  two  of this chapter. Any private banker who refuses or neglects to obey
  any such order shall be subject to a penalty of an amount as  determined
  pursuant  to  section  forty-four of this chapter for each day that such
  refusal or neglect continues.
3. Every private banker shall preserve all his records of final entry,
  including cards used under the card system and deposit  tickets,  for  a
  period  of  at  least six years from the date of making the same or from
  the date of the last entry thereon; provided, however, that preservation
  of photographic reproduction thereof or  records  in  photographic  form
  shall constitute compliance with the requirements of this section.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 176 - Reports Required by Superintendent; Penalty for Failure to Make.

§ 176.  Reports  required  by  superintendent;  penalty for failure to
  make.  Within fifteen days after service upon any private banker of  the
  notice  provided  for  by section thirty-seven of this chapter, he shall
  make a written report to the superintendent of the  financial  condition
  of  his business as a private banker, which report shall be in such form
  and shall contain such information as the  superintendent  of  financial
  services  may  prescribe. Such report shall be published by such private
  banker in such manner as the superintendent of  financial  services  may
  prescribe in a newspaper published in the place where the office of such
  private  banker  is  located or if no newspaper is published there, in a
  newspaper of general circulation in such place.
Every private banker shall also make such other special reports to the
  superintendent as he may from time to time require in such form  and  on
  such  dates  as  may  be prescribed by the superintendent, which reports
  shall if required by the superintendent be verified in such form  as  he
  may prescribe.
If  any  private banker shall fail to make any report required by this
  section on or before the date designated for the making thereof or shall
  fail to include therein any prescribed matter, such private banker 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 he or she 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 4 - Private Bankers. › 177 - Official Communications From Superintendent.

§ 177.  Official  communications  from  superintendent. Every official
  communication, as defined in article two of this  chapter,  directed  to
  any  private  banker, shall, if such private banker is a partnership, be
  submitted by the person receiving it to the members thereof  present  at
  their next meeting and duly noted on the records of such private banker.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 178 - Business of Deceased Private Banker; Continuation; Liquidation.

§ 178. Business of deceased private banker; continuation; liquidation.
  In  case  of  the  death  of  an individual engaged in the business of a
  private   banker,   his   executor,   administrator   or   other   legal
  representative, and in case of the death of a member of a partnership so
  engaged,  the  surviving  members  of the partnership, may continue such
  business for a period of six months from the date of such death if  such
  continuation  is  necessary,  in order to bring about the liquidation of
  such business.   If the liquidation shall  not  have  been  accomplished
  within such period of six months, the superintendent may extend the time
  for  a further period not to exceed one year or may, at his option, take
  over such private banking business and complete the liquidation, but the
  provisions of this chapter shall be applicable to the business  of  such
  deceased  private  banker while the business is being continued pursuant
  to the provisions  of  this  section.  Nothing  herein  contained  shall
  prevent  the  surviving  partner  or  partners  of  or  a successor to a
  deceased private banker from applying for and  receiving,  if  otherwise
  entitled  thereto, an authorization certificate to engage in business as
  a private banker.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 179 - Effect of Revocation of Authorization Certificate.

§ 179.  Effect  of  revocation of authorization certificate.  Whenever
  the superintendent shall have revoked the authorization  certificate  of
  any  private  banker,  and  shall  have  taken  the  action to make such
  revocation effective specified in article two of this chapter,  all  the
  rights and privileges resulting from such authorization, shall forthwith
  cease and determine.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 180 - Prohibitions Against Encroachment Upon Certain Powers of Private Bankers, Savings Banks and Savings and Loan Associations.

§ 180.  Prohibitions  against  encroachment  upon  certain  powers  of
private bankers, savings banks and savings and loan associations. Except
as authorized by this chapter, no individual, either for himself  or  as
trustee, and no partnership or unincorporated association shall:
(1) Engage in the business of receiving deposits;
(2)  Make  use  of  the  words  "bank,"  "banker"  or "banking" or any
derivative or compound of any such words or  any  word  or  words  in  a
foreign  language  having  the  same  or  similar  meanings in any sign,
advertisement, circular, letterhead  or  in  other  written  or  printed
matter,   in  such  manner  as  might  indicate  that  such  individual,
partnership or unincorporated association is  authorized  to  engage  in
business as a bank or private banker;
(3) As principal, agent or trustee engage in the business of receiving
payments of money in installments, for cooperative, mutual loan, savings
or  investment  purposes  in sums of less than five hundred dollars each
under a declaration of trust or otherwise;
(4) Personally or by the publication or circulation of  advertisements
solicit  such  payment of money to any unauthorized individual, trustee,
partnership  or  unincorporated  association  or  the  execution  of   a
declaration of trust to or a contract with, any unauthorized individual,
trustee,  partnership  or  unincorporated  association, under which such
payments will become due and payable;
(5) Engage in or conduct a business  similar  to  the  business  of  a
savings  bank  or  of a savings and loan association, or promise to make
loans at any time, either fixed or uncertain, upon real estate  security
for   building,  home-owning,  savings  or  investment  purposes  as  an
inducement for the payment of sums of money in installments of less than
five  hundred  dollars  each  to  any  unauthorized   person,   trustee,
partnership or unincorporated association;
(6)  Engage  in  the business of transmitting money or receiving money
for transmission in  any  manner  whatsoever;  provided,  however,  that
nothing  contained  in  this  paragraph  shall  apply  to an individual,
partnership or  unincorporated  association  licensed  pursuant  to  the
provisions of article thirteen-B of this chapter.
Any  person  who  shall violate any provision of this section shall be
guilty of a misdemeanor.
2023 New York Laws › BNK - Banking › Article 4 - Private Bankers. › 181 - Exemptions of Certain Private Bankers.

§ 181.  Exemptions of certain private bankers. 1. Every individual and
  partnership  conducting  the  business  of  a  private  banker  on  June
  thirtieth,  nineteen  hundred thirty-eight, pursuant to an authorization
  certificate issued by the  superintendent  may  thereafter  continue  to
  conduct such business under the authority of such existing authorization
  certificate.
2.  Nothing  in this article shall be construed to render unlawful the
  continued ownership or holding by a private banker of  any  investments,
  loans,  or  other  real  or personal property lawfully acquired prior to
  June thirtieth, nineteen hundred thirty-eight.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 190 - Application of Article; Definition.

§ 190. Application of article; definition. This article shall apply to
  banks, trust companies, savings banks, savings and loan associations and
  foreign banking corporations licensed, pursuant to section twenty-six of
  this  chapter,  to  maintain  a  branch in the state, as those terms are
  defined, respectively, in subdivisions  one,  two,  four  and  eight  of
  section  two,  and  subdivision  five  of  section  two  hundred of this
  chapter. As used in this article, the term "banking  institution"  shall
  mean and include banks, trust companies, savings banks, savings and loan
  associations  and  foreign  banking  corporations  licensed, pursuant to
  section twenty-six of this chapter, to maintain a branch in  the  state,
  as so defined.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 191 - Public Accommodation Offices Authorized.

§ 191.  Public accommodation offices authorized. A banking institution
  may apply for the approval of the superintendent to establish,  maintain
  and  operate not more than one public accommodation office as an adjunct
  to its principal office, and not  more  than  one  public  accommodation
  office  as  an  adjunct  to  each  branch  office  now occupied by it or
  hereafter lawfully opened and occupied by it, provided, however, that no
  public accommodation office may be established  as  an  adjunct  to  any
  electronic  facility established pursuant to section one hundred five-a,
  two hundred forty-a or three hundred ninety-six-a of this chapter.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 192 - Location of Public Accommodation Office.

§ 192.  Location  of  public  accommodation  office.  1.  Each  public
  accommodation office established  pursuant  to  this  article  shall  be
  located  in  the  same  city,  town  or  village  in  which  the banking
  institution maintains the office  of  which  such  public  accommodation
  office  is  an  adjunct  and within one thousand feet from the principal
  office or branch office of the banking institution of  which  it  is  an
  adjunct.
2. For the purposes of this article, distances shall be measured along
  a straight line drawn between the wall of the principal office or branch
  office  of  a  banking  institution  and  the nearest wall of the public
  accommodation office.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 193 - Limitation Upon Business Which May Be Transacted at Public Accommodation Office.

§ 193.  Limitation  upon  business  which  may be transacted at public
accommodation  office.  No  business  other  than  that   actually   and
necessarily  involved  in connection with the performance of one or more
of the functions enumerated in this section shall be transacted  at  any
public accommodation office:
(a)  the  receipt  of  deposits  of  money, currency, checks and other
similar items;
(b) the payment of withdrawals;
(c) the cashing of checks, drafts and other similar items;
(d) the receipt of moneys due to the banking institution;
(e) the issuance of cashier's checks, treasurer's checks, money orders
and other similar items; and
(f) the disbursement of funds pursuant to an existing  loan  agreement
or extension of credit which provides for advances to or for the account
of  the  borrower,  by  means  of  honoring  one or more checks or other
written orders or by use of a credit card or other similar arrangement.
Nothing contained in this section shall be construed to authorize  the
performance  of  any  function  or  the  rendition of any service in any
public accommodation  office  which  such  banking  institution  is  not
otherwise authorized to engage in by other provisions of this chapter or
other law.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 194 - Public Accommodation Office Not Deemed Branch Office.

§ 194.  Public accommodation office not deemed branch office. A public
  accommodation office shall not be deemed a branch office as that term is
  used in this chapter and shall not be subject to any other provision  of
  this  chapter  specifically  relating  to  the  establishment  of branch
  offices. Each public accommodation office  shall  be  deemed  to  be  an
  integral part of the banking institution or branch office of which it is
  an  adjunct,  and  all  business transacted at such public accommodation
  office shall be deemed to be transacted at the office of which it is  an
  adjunct.
2023 New York Laws › BNK - Banking › Article 4-A - Public Accommodation Offices of Banks, Trust Companies, Savings Banks, Savings and Loan Associations and Foreign Banking Corporations › 195 - Rules, Regulations and Orders.

§ 195.  Rules,  regulations  and orders. The superintendent shall have
  power to adopt, amend and enforce such rules, regulations and orders  as
  the  superintendent  may  deem necessary to enable the superintendent to
  administer and carry out the provisions of this article and  to  prevent
  evasions thereof.