New York Laws
Article 6 - Savings Banks
234-A - Settlement, Modification or Readjustment of Investment.

§ 234-a. Settlement, modification or readjustment of investment. A
savings bank may consent to any settlement, modification or readjustment
of any investment in securities legally made by such savings bank, and
may accept and hold stocks, bonds, notes, securities or other property,
real or personal, offered in full or partial settlement, modification or
readjustment of any such investment. The superintendent may, in his
discretion, require any savings bank to dispose of any investment
acquired by it pursuant to this section.

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