ยง 479. Credit union not liable for taxation. Any credit union subject
to the provisions of this article shall be deemed an institution for
savings within the meaning of the law which exempts such institutions
from taxation. No law which taxes corporations in any form, or the
shares thereof or the accumulations therein, shall apply to corporations
doing business in accordance with the provisions of this article, unless
such corporations are specifically named in said law.
Structure New York Laws
450 - Incorporation; Organization Certificate.
450-A - Designation of Low Income Credit Union.
450-B - Designation of Student Branches.
451-A - Qualifications for Membership.
452 - When Corporate Existence Begins; Conditions Precedent to Commencing Business.
453 - Corporate Credit Unions.
456 - Limitations Upon Powers.
458-A - Maintenance of Reserves.
459 - Allowance for Loan Loss.
460 - Dividends to Shareholders; Conditions Precedent.
461 - Change of Location; Estblishment of Stations; Extension or Revival of Corporate Existence.
463 - Exemptions and Individual Liability of Shareholders.
465 - Withdrawal of Shares After Voting to Liquidate; Notices to Shareholders.
466 - Meetings of Shareholders; Voting.
467 - Qualifications and Disqualifications of Directors and Committee Members.
468 - Oaths of Directors; Officers and Members of Committees.
469 - Vacancies; Change in Number of Directors.
470 - Powers and Duties of Directors; Not Entitled to Compensation; Disqualification of Directors.
471 - Duty of Directors and Officers.
472 - Special Duties of Directors.
473 - Loan Officers, Credit Committee; Duties.
474 - Loan Reports to Directors.
475 - Supervisory Committee; Powers and Duties.
476 - Officers; Powers and Duties.
477 - Retirement and Insurance Benefits for Officers and Employees.
478 - Amendment of Bylaws; Approval of Superintendent.
479 - Credit Union Not Liable for Taxation.
482 - Reports to Superintendent; Penalty for Failure to Make.
483 - Penalty for Loans to Non-Members; Recovery.
484 - Penality for Use of Term "Credit Union".
485 - Entries in Books; Preservation of Records.
486 - Conversion of a Federal Credit Union Into a State Credit Union.
487 - Conversion of a Credit Union Into a Federal Credit Union.
487-A - Conversion of a Credit Union Into a Mutual Savings Bank.