New York Laws
Article 10-B - Savings and Loan Bank of the State of New York
440 - Commissions and Payment of Expenses.

§ 440. Commissions and payment of expenses. The savings and loan bank
may charge each member an annual commission, not to exceed one-half of
one per centum, upon the outstanding bonds and notes issued in its
behalf, provided, however, that the rate of commission in any year shall
be the same on all outstanding obligations in respect to which a
commission is charged; or in lieu of charging such commissions the
expenses incurred on account of any such obligations may be charged to
the member on whose behalf such obligations are issued.

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