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442 - Number of Directors; Filling of Vacancies; Change of Number. - § 442. Number of directors; filling of vacancies; change of...
443 - Amendment of By-Laws. - § 443. Amendment of by-laws. The by-laws may be altered...
444 - Annual Meeting; Notice; Voting. - § 444. Annual meeting; notice; voting. The annual meeting of...
445 - Preference of Credits. - § 445. Preference of credits. In case of the insolvency...
446 - Exemptions. - § 446. Exemptions. The bonds and notes issued by the...
Article 10-C - Mutual Holding Companies
447 - Authorization of the Formation of Mutual Holding Companies. - § 447. Authorization of the formation of mutual holding companies....
447-A - Required Approvals. - (b) Factors considered. In determining whether to approve the plan...
447-B - Formation of a Mutual Holding Company. - (a) (i) the organization by the mutual holding company of...
447-C - Mutual Holding Company Powers. - (a) the mutual holding company shall possess all the rights,...
447-D - Conversion of Mutual Holding Company Into Stock Holding Company. - (a) was organized as a result of the reorganization of...
Article 11 - Credit Unions
450 - Incorporation; Organization Certificate. - § 450. Incorporation; organization certificate. When authorized by the superintendent...
450-A - Designation of Low Income Credit Union. - § 450-a. Designation of low income credit union. 1. A...
450-B - Designation of Student Branches. - (a) "school" shall mean any public or private elementary or...
451 - Proposed Bylaws. - § 451. Proposed bylaws. The incorporators shall subscribe and acknowledge...
451-A - Qualifications for Membership. - (a) Persons: (1) within the same occupation or from multiple...
452 - When Corporate Existence Begins; Conditions Precedent to Commencing Business. - § 452. When corporate existence begins; conditions precedent to commencing...
453 - Corporate Credit Unions. - (a) accumulate and prudently manage the liquidity of its member...
454 - General Powers. - (b) The knowingly taking, receiving, reserving, or charging a greater...
455 - Trust Powers. - § 455. Trust powers. 1. The superintendent of financial services...
456 - Limitations Upon Powers. - § 456. Limitations upon powers. No credit union shall: 1....
457 - Capital. - § 457. Capital. The capital of a credit union shall...
458-A - Maintenance of Reserves. - § 458-a. Maintenance of reserves. A credit union shall contribute...
459 - Allowance for Loan Loss. - § 459. Allowance for loan loss. An allowance for loan...
460 - Dividends to Shareholders; Conditions Precedent. - (a) All expenses paid or incurred by the credit union...
461 - Change of Location; Estblishment of Stations; Extension or Revival of Corporate Existence. - (a) Its board of directors shall submit to the superintendent...
462 - Foreign Credit Unions. - § 462. Foreign credit unions. Subject to such regulations as...
463 - Exemptions and Individual Liability of Shareholders. - § 463. Exemptions and individual liability of shareholders. The transfer...
464 - Manner of Withdrawal; Expulsion or Suspension of Members; Effect Upon Liabilities to Credit Unions. - (a) Except as provided in paragraph (b) of this subdivision,...
465 - Withdrawal of Shares After Voting to Liquidate; Notices to Shareholders. - § 465. Withdrawal of shares after voting to liquidate; notices...
466 - Meetings of Shareholders; Voting. - § 466. Meetings of shareholders; voting. 1. At all meetings...
467 - Qualifications and Disqualifications of Directors and Committee Members. - § 467. Qualifications and disqualifications of directors and committee members....
468 - Oaths of Directors; Officers and Members of Committees. - § 468. Oaths of directors, officers and members of committees....
469 - Vacancies; Change in Number of Directors. - § 469. Vacancies; change in number of directors. 1. Vacancies...
470 - Powers and Duties of Directors; Not Entitled to Compensation; Disqualification of Directors. - § 470. Powers and duties of directors; not entitled to...
471 - Duty of Directors and Officers. - (a) To compel the defendant to account for his official...
472 - Special Duties of Directors. - § 472. Special duties of directors. Unless the bylaws shall...
473 - Loan Officers, Credit Committee; Duties. - § 473. Loan officers, credit committee; duties. Whenever the term...
474 - Loan Reports to Directors. - § 474. Loan reports to directors. 1. The credit committee...
475 - Supervisory Committee; Powers and Duties. - (a) To suspend at any time by unanimous vote, at...
476 - Officers; Powers and Duties. - § 476. Officers; powers and duties. The powers and duties...
477 - Retirement and Insurance Benefits for Officers and Employees. - § 477. Retirement and insurance benefits for officers and employees....
478 - Amendment of Bylaws; Approval of Superintendent. - § 478. Amendment of bylaws; approval of superintendent. 1. The...
479 - Credit Union Not Liable for Taxation. - § 479. Credit union not liable for taxation. Any credit...
480 - Fiscal Year. - § 480. Fiscal year. The fiscal year of every credit...
481 - Communications From Department of Financial Services Must Be Submitted to Directors and Supervisory Committee, and Noted in the Minutes. - § 481. Communications from department of financial services must be...
482 - Reports to Superintendent; Penalty for Failure to Make. - § 482. Reports to superintendent; penalty for failure to make....
483 - Penalty for Loans to Non-Members; Recovery. - § 483. Penalty for loans to non-members; recovery. Any officer,...
484 - Penality for Use of Term "Credit Union". - § 484. Penalty for use of term "credit union". The...
485 - Entries in Books; Preservation of Records. - § 485. Entries in books; preservation of records. 1. No...
486 - Conversion of a Federal Credit Union Into a State Credit Union. - § 486. Conversion of a federal credit union into a...
486-A - Retention of Special Additional Mortgage Recording Tax Exemption for Converted Federal Credit Unions. - § 486-a. Retention of special additional mortgage recording tax exemption...
487 - Conversion of a Credit Union Into a Federal Credit Union. - § 487. Conversion of a credit union into a federal...
487-A - Conversion of a Credit Union Into a Mutual Savings Bank. - § 487-a. Conversion of a credit union into a mutual...
Article 11-A - Credit Union Insurance Fund
490-A - Creation of Fund. - § 490-a. Creation of fund. Any fifty or more credit...
490-B - Management of Fund. - § 490-b. Management of fund. The fund shall be collected,...
490-C - Execution and Filing of Agreement. - § 490-c. Execution and filing of agreement. The agreement when...
490-D - Provisions of Agreement. - (b) The amount of the initial contribution to the fund,...
490-E - Powers and Duties of Trustee or Trustees. - § 490-e. Powers and duties of trustee or trustees. It...
490-F - Powers of Superintendent to Obtain Payment From Fund. - § 490-f. Powers of superintendent to obtain payment from fund....
490-G - Payment of Liquidating Dividends on Uninsured Shares. - § 490-g. Payment of liquidating dividends on uninsured shares. In...
490-H - Exemption of Fund From Taxation. - § 490-h. Exemption of fund from taxation. The fund provided...
490-I - Liability for Payment of Contributions. - § 490-i. Liability for payment of contributions. Any credit union...
490-J - Powers of Credit Unions With Respect to Agreement. - § 490-j. Powers of credit unions with respect to agreement....
Article 11-B - Sales Finance Companies
491 - Definitions. - § 491. Definitions. In this article, unless the context or...
492 - License. - (a) The exact name of the applicant and date of...
492-A - Changes in Control. - § 492-a. Changes in control. 1. It shall be unlawful...
493 - Action by Superintendent on Application. - (a) May refuse to issue the license if he finds...
494 - License Form; Posting; Limitations. - § 494. License form; posting; limitations. 1. Each license issued...
495 - Revocation, Suspension or Surrender of Licenses. - (a) the licensee, knowingly or without the exercise of due...
496 - Judicial Review. - § 496. Judicial review. The refusal, suspension or revocation of...
497 - Investigations and Examinations. - § 497. Investigations and examinations. 1. The superintendent shall have...
498 - Complaints. - § 498. Complaints. 1. Any buyer having reason to believe...
498-B - Regulations and Rulings. - § 498-b. Regulations and rulings. The superintendent of financial services...
499 - Violations and Penalties. - § 499. Violations and penalties. Any person who violates or...
501 - Repeal of Inconsistent Acts. - § 501. Repeal of inconsistent acts. All acts and parts...
502 - Severability. - § 502. Severability. If any provision of this article or...
Article 12
507 - Limited Liability Investment Companies. - § 507. Limited liability investment companies. 1. Investment companies which...
508 - General Powers. - (b) Pursuant to paragraph (a) of this subdivision, an investment...
509 - Restrictions on Powers of Investment Companies. - § 509. Restrictions on powers of investment companies. An investment...
510 - Restrictions as to Entries in Books. - § 510. Restrictions as to entries in books. 1. No...
511 - Change of Location; Change of Designation of Principal Office. - § 511. Change of location; change of designation of principal...
512 - Communications From Department of Financial Services Must Be Submitted to Directors and Noted in Minutes. - § 512. Communications from department of financial services must be...
513 - Reports to Superintendent. - § 513. Reports to superintendent. On or before the first...
514 - Liability of Investment Company for Assessments by Superintendent. - § 514. Liability of investment company for assessments by superintendent....
515 - Preservation of Records of Investment Company. - § 515. Preservation of records of investment company. Every investment...
516 - Restrictions on Officers, Directors and Other Employees. - § 516. Restrictions on officers, directors and other employees. No...
517 - How Net Earnings Credited for Dividend Purposes, Credits to Surplus Fund and to Undivided Profits, Dividends to Stockholders. - § 517. How net earnings credited for dividend purposes, credits...
518 - Payment of Claims by Investment Companies Where Adverse Claim Is Asserted; Effect of Claims or Advices Originating In, and Statutes, Rules or Regulati - (b) For the purposes of this subdivision (1) the term...
519 - Acquisition of Control of Investment Companies. - § 519. Acquisition of control of investment companies. 1. Subject...
520 - Savings Clause. - § 520. Savings clause. Nothing in this article contained shall...
Article 12-A - Mutual Trust Investment Companies
550 - Incorporation; Organization Certificate. - § 550. Incorporation; organization certificate. When authorized by the superintendent...
551 - Investment Powers. - § 551. Investment powers. A mutual trust investment company may...
552 - Accountability. - § 552. Accountability. A mutual trust investment company shall not...
553 - Investment by Fiduciaries in Shares. - § 553. Investment by fiduciaries in shares. Unless the instrument...
Article 12-B - Insurance Premium Finance Agencies
554 - Definitions. - (a) a person engaged, in whole or in part, in...
555 - License. - § 555. License. 1. No person except a lending institution...
555-A - Changes in Control. - § 555-a. Changes in control. 1. It shall be unlawful...
556 - Action by Superintendent on Application. - § 556. Action by superintendent on application. 1. Within ninety...
557 - License Provisions and Posting. - § 557. License provisions and posting. Such license shall state...
558 - Change of Location. - § 558. Change of location. Before any licensee changes any...
559 - Grounds for Revocation of License; Procedure. - (a) The licensee has failed to pay the annual license...
560 - Investigations and Examinations. - § 560. Investigations and examinations. 1. The superintendent shall have...
561 - Regulations and Rulings. - § 561. Regulations and rulings. The superintendent is hereby authorized...
563 - Violations and Penalties. - § 563. Violations and penalties. 1. Any person, including any...
565 - Licensee's Books and Records; Reports. - § 565. Licensee's books and records; reports. 1. The licensee...
566 - Insurance Agents and Brokers; Acquisition by Premium Finance Agencies of Premium Finance Agreements. - (a) No premium finance agency, and no employee of such...
567 - Form and Content of Premium Finance Agreements. - (a) At its top, the words PREMIUM FINANCE AGREEMENT in...
568 - Limitation on Service and Other Charges. - (b) In computing the service charge permitted by this subdivision,...
569 - Delinquency, Collection and Cancellation Charges; Attorney's Fees. - § 569. Delinquency, collection and cancellation charges; attorney's fees. 1....
570 - Restrictions on Premium Finance Agreements. - (a) In the absence of default of the insured, the...
571 - Delivery of Copy of Premium Finance Agreement. - § 571. Delivery of copy of premium finance agreement. Before...
572 - Notice of Assignment; Payments. - § 572. Notice of assignment; payments. Unless the insured has...
573 - Statement of Account; Receipts. - § 573. Statement of account; receipts. 1. At any time...
574 - Credit Upon Anticipation of Payments. - § 574. Credit upon anticipation of payments. 1. Notwithstanding the...
575 - Refinancing. - § 575. Refinancing. A premium finance agency may, upon agreement...
576 - Cancellation of Insurance Contract Upon Default. - (a) Not less than ten days written notice shall be...
577 - Interpretation of Article. - (a) By any person at a rate of interest not...
577-A - Premium Finance Agreements. - (a) Prior to or contemporaneously with the advancement of any...
578 - Severability. - § 578. Severability. If any provision of this article or...
Article 12-C - Budget Planners
579 - Doing Business Without License Prohibited. - § 579. Doing business without license prohibited. Only a charitable...
580 - Application for License. - (a) The exact name and the address of the applicant...
581 - Conditions for Issuance of a License; Procedure Where Application Denied. - § 581. Conditions for issuance of a license; procedure where...
582 - License Provisions. - § 582. License provisions. Each license issued under this article...
583 - Changes in Officers or Directors of Licensee. - § 583. Changes in officers or directors of licensee. In...
583-A - Changes in Control. - § 583-a. Changes in control. 1. It shall be unlawful...
584 - Grounds for Suspension or Revocation of License; Procedure. - (a) The licensee has violated any provisions of this article,...
584-A - Contracts With Debtors; Fees. - § 584-a. Contracts with debtors; fees. Each licensee shall submit...
584-B - Prohibited Activities. - § 584-b. Prohibited activities. 1. No person, partnership, association, corporation,...
585 - Superintendent Authorized to Examine. - § 585. Superintendent authorized to examine. For the purpose of...
586 - Licensee's Books and Records; Reports. - § 586. Licensee's books and records; reports. 1. The licensee...
587 - Authority of Superintendent. - § 587. Authority of superintendent. The superintendent is hereby authorized...
Article 12-D - Licensed Mortgage Bankers
589 - Declaration of Policy. - § 589. Declaration of policy. The origination, funding and servicing...
590 - Licensing. - (b) "Residential real property" shall mean real property located in...
590-A - Junior Mortgage Loans. - § 590-a. Junior mortgage loans. 1. A licensee may make...
590-B - Responsibilities. - (a) act in the borrower's interest; (b) act with reasonable...
591 - Application for a Mortgage Banker's License; Fees. - (a) An affirmation of financial solvency noting such capitalization requirements...
591-A - Application to Register as a Mortgage Broker; Fees. - § 591-a. Application to register as a mortgage broker; fees....
592 - Application Process to Receive License to Engage in the Business of Mortgage Banking. - § 592. Application process to receive license to engage in...
592-A - Application Process to Register as a Mortgage Broker. - § 592-a. Application process to register as a mortgage broker....
593 - License Provisions. - § 593. License provisions. Each license issued under this article...
593-A - Registration Provisions. - § 593-a. Registration provisions. 1. Each certificate issued to a...
594 - Changes in Officers and Directors. - § 594. Changes in officers and directors. Upon any change...
594-B - Changes in Control. - § 594-b. Changes in control. 1. It shall be unlawful...
595 - Grounds for Suspension or Revocation of License, or Suspension or Deletion of Name From Mortgage Broker Roll. - (a) Through a course of conduct, the licensee or registrant...
595-A - Regulation of Mortgage Brokers, Mortgage Bankers and Exempt Organizations. - (a) The misrepresentation of material facts or the making of...
595-B - Regulation of Mortgage Loan Servicers. - § 595-b. Regulation of mortgage loan servicers. 1. Establishment of...
595-C - Regulation of Dealings of Mortgage Brokers and Home Improvement Contractors. - § 595-c. Regulation of dealings of mortgage brokers and home...
596 - Superintendent Authorized to Examine; Expenses. - § 596. Superintendent authorized to examine; expenses. For the purpose...
597 - Books and Records; Reports and Electronic Filing. - § 597. Books and records; reports and electronic filing. Each...
598 - Additional Penalties for Violation of This Article; Civil, Criminal; Liquidated Damages. - § 598. Additional penalties for violation of this article; civil,...
599 - Separability of Provisions. - § 599. Separability of provisions. If any provision of this...
Article 12-E - Licensed Mortgage Loan Originators
599-A - Legislative Purpose. - § 599-a. Legislative purpose. The legislature deems it necessary, in...
599-B - Definitions. - (a) "Loan processor or underwriter" means an individual who performs...
599-C - License Required. - (a) Each individual, other than an individual described in paragraph...
599-D - State License Application. - (a) Fingerprints for submission to the Federal Bureau of Investigation,...
599-E - Issuance of a License. - (a) No license revocation. That the applicant has never had...
599-F - Pre-Licensing Educational Requirements. - (a) Three hours of federal law and regulations; (b) Three...
599-G - Testing of Mortgage Loan Originators. - (a) Ethics; (b) Federal law and regulation pertaining to mortgage...
599-H - Mortgage Call Reports. - § 599-h. Mortgage call reports. Each originating entity shall submit...
599-I - Standards for License Renewal; Inactive Status. - (a) The mortgage loan originator must continue to meet the...
599-J - Continuing Education for Mortgage Loan Originators. - (a) Three hours of Federal law and regulations; (b) Two...
599-K - Required Surety Bond. - § 599-k. Required surety bond. 1. Each mortgage loan originator...
599-L - Reports by the Superintendent; Permissive Challenges by Licensees. - § 599-l. Reports by the superintendent; permissive challenges by licensees....
599-M - Required Records and Reporting. - (a) A change in his or her primary residence address;...
599-N - Enforcement Authority; Grounds for Suspension or Revocation of a Mortgage Loan Originator License; Restitution. - (a) Through a course of conduct, the licensee has violated...
599-O - Rules, Regulations and Examinations. - § 599-o. Rules, regulations and examinations. 1. The superintendent is...
599-P - Unique Identifier. - § 599-p. Unique identifier. The unique identifier of any person...
599-Q - Confidentiality. - § 599-q. Confidentiality. In order to promote more effective regulation...
599-R - Construction. - § 599-r. Construction. Nothing contained in this article shall be...
Article 13 - Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation
600 - Merger; When Authorized. - (1) One or more corporations organized under the laws of...
601 - Merger Agreement; Authorization; Approval; Filing. - § 601. Merger agreement; authorization; approval; filing. 1. A written...
601-A - Purchase of Assets. - (a) One or more corporations organized under the laws of...
601-B - Approval or Disapproval of Merger or Purchase of Assets. - § 601-b. Approval or disapproval of merger or purchase of...
601-C - Sale, Lease, Exchange or Other Disposition of Property, Rights, Privileges and Franchises. - (a) In the case of a corporation subject to the...
602 - Effect of Merger. - (1) the receiving corporation shall be considered the same business...
603 - Issuance of New Certificates of Stock or Other Consideration. - § 603. Issuance of new certificates of stock or other...
604 - Rights of Dissenting Stockholders. - § 604. Rights of dissenting stockholders. The following stockholders shall,...
604-A - Transfer of Fiduciary Relationships. - § 604-a. Transfer of fiduciary relationships. 1. If any banking...
605 - Voluntary Liquidation; Sale of Assets; Forfeiture of Charter by Non-User. - (1) the owner of any personal property in the custody...
605-A - Transfer of Deposit Liabilities of Bank or Trust Company; Sale or Pledge of Assets to Facilitate Such Transfer. - § 605-a. Transfer of deposit liabilities of bank or trust...
606 - When Superintendent May Take Possession of Banking Organization; When Possession May Be Surrendered. - (a) Has violated any law; (b) Is conducting its business...
607 - Manner and Time Within Which Taking Possession May Be Tested. - § 607. Manner and time within which taking possession may...
609 - Resumption of Business by Bank, Trust Company or Industrial Bank; Retirement of Certificates; Applicability to Stock-Form Savings Banks and Stock-Form - (b) Such plan may provide for any one or more...
610 - Resumption of Business in Accordance With Plan of Reorganization. - § 610. Resumption of business in accordance with plan of...
611 - Special Deputies; Assistants; Counsel and Other Employees. - § 611. Special deputies; assistants; counsel and other employees. The...
611-A - Appointment of Single Judge. - § 611-a. Appointment of single judge. When the superintendent has...
612 - Certificates to Be Recorded and Received in Evidence. - § 612. Certificates to be recorded and received in evidence....
612-A - Payment of Wages. - § 612-a. Payment of wages. All wages actually owing to...
613 - Payment by Superintendent of Expenses of Liquidation. - § 613. Payment by superintendent of expenses of liquidation. The...
614 - Obtaining Possession of Pleadings, Et Cetera, in Actions Against Which Attorneys' Liens Are Asserted. - § 614. Obtaining possession of pleadings, et cetera, in actions...
615 - On Taking Possession, Superintendent Shall Notify Those Holding Assets; Effect of Notification; Turnover of Assets and Payment of Debts Owed to the Ba - § 615. On taking possession, superintendent shall notify those holding...
616 - Inventory of Assets; Where Filed. - § 616. Inventory of assets; where filed. After the superintendent...
617 - Disposition of Property Held as Bailee, or Depositary; Opening of Safe Deposit Boxes; Disposal of Contents. - (1) the owner of any personal property in the custody...
618 - Liquidation and Conservation of Assets; Compromising Debts and Claims; Deposit of Moneys Collected; Preference; Superintendent, as Liquidator, Authori - (b) The superintendent may sell, assign, compromise or otherwise dispose...
618-A - Repudiation of Contracts. - (b) Except as otherwise provided in this section, the liability...
619 - Prosecution and Defense of Actions; Actions Preferred; Limitations; Power to Execute Instruments; Exemption From Filing and Other Fees. - (b) If the superintendent takes possession of the business and...
620 - Notice to Creditors to Make Proof of Claims; Form of Claims; Claims for Priority of Payment. - § 620. Notice to creditors to make proof of claims;...
620-A - Certain Claims Shall Not Be Accepted. - § 620-a. Certain claims shall not be accepted. The superintendent...
622 - List of Claims Duly Presented; Filing. - § 622. List of claims duly presented; filing. The superintendent...
623 - Filing Objections to Claims Presented or Listed; Procedure Upon Claim Under Objection. - § 623. Filing objections to claims presented or listed; procedure...
624 - Acceptance and Rejection of Claims and Accounts; Filing of List Thereof; Secured Claims and Accounts; Determination of Priorities. - § 624. Acceptance and rejection of claims and accounts; filing...
625 - Effect of Accepting Claims and Accounts; Limitation Upon Actions to Establish Claims and Accounts; Necessary Allegations; Effect of Judgment. - § 625. Effect of accepting claims and accounts; limitation upon...
626 - Judgments Recovered Shall Not Be Liens. - § 626. Judgments recovered shall not be liens. A lien...
627 - Dividends to Creditors; Distributions to Stockholders; Dissolution; Destruction of Documents. - § 627. Dividends to creditors; distributions to stockholders; dissolution; destruction...
628 - Payment of Dividends When Deposits Have Been Made Available by Federal Deposit Insurance Corporation. - § 628. Payment of dividends when deposits have been made...
629 - Payment of Dividends to Minors, Trustees or Joint Depositors; Payment of Dividends Where Adverse Claim Is Asserted; Interpleader in Certain Actions. - (b) The dividends which are the subject of such an...
630 - Claims of Shareholders and Members of Credit Unions and Savings and Loan Associations. - § 630. Claims of shareholders and members of credit unions...
631 - Actions Against Directors, Trustees, Managers or Officers for Violation of Their Official Duties. - § 631. Actions against directors, trustees, managers or officers for...
633 - Service of Notice or Process During Time of War. - § 633. Service of notice or process during time of...
634 - Power to Appoint Regulator or Insurer as Receiver; Additional Powers. - § 634. Power to appoint regulator or insurer as receiver;...
Article 13-A - Licensees: Superintendent's Taking Possession: Conservation: Liquidation
635 - Definitions. - § 635. Definitions. 1. "Person" when used in this article...
636 - When Superintendent May Take Possession of License; When Possession May Be Surrendered. - (a) Is conducting its business in a manner which is...
637 - Powers of Superintendent in Possession; Application for Receiver. - § 637. Powers of superintendent in possession; application for receiver....
638 - Manner and Time Within Which Taking Possession May Be Tested. - § 638. Manner and time within which taking possession may...
639 - Severability. - § 639. Severability. If any provision of this article, or...
Article 13-B - Transmitters of Money
640 - Definitions. - (i) cash; (ii) certificates of deposit or other debt instruments...
641 - License. - (a) The exact name of the applicant and, if incorporated,...
642 - Action by Superintendent. - § 642. Action by superintendent. 1. Upon the filing of...
643 - Bond or Securities. - § 643. Bond or securities. 1. As a condition for...
645 - Assignment of Claims to Superintendent. - § 645. Assignment of claims to superintendent. At the written...
646 - Investigations, Hearings and Reports. - § 646. Investigations, hearings and reports. 1. The superintendent shall...
647 - Judicial Review. - § 647. Judicial review. The refusal by the superintendent of...
648 - Agents. - (a) The business may be conducted through or by means...
649 - Rules and Regulations. - § 649. Rules and regulations. The superintendent is hereby authorized...
650 - Violations and Penalties. - (1) knowingly receives or agrees to receive for transmission from...
651 - Investments. - § 651. Investments. Every licensee shall at all times maintain...
651-A - Remittances. - § 651-a. Remittances. 1. Each agent of a licensee which...
651-B - Maintenance of Books and Records by Agents. - § 651-b. Maintenance of books and records by agents. Each...
652 - Severability. - § 652. Severability. If any provision of this article, or...
652-A - Changes in Control. - § 652-a. Changes in control. 1. It shall be unlawful...
652-B - Tying Arrangements. - § 652-b. Tying arrangements. 1. It shall be unlawful for...
Article 13-C - State Transmitter of Money Insurance Fund
653 - Definitions. - § 653. Definitions. 1. "Claimant", when used in this article,...
654 - Purpose of the Fund. - § 654. Purpose of the fund. There is hereby created...
655 - Maximum Amount of Insurance. - § 655. Maximum amount of insurance. 1. Subject to the...
656 - Claims Against the Fund. - § 656. Claims against the fund. 1. If an uninsured...
657 - Payments to the Fund. - § 657. Payments to the fund. In the event the...
658 - General Powers of the Fund; Administration of the Fund. - § 658. General powers of the fund; administration of the...
659 - Rules and Regulations. - § 659. Rules and regulations. The superintendent is hereby authorized...
Article 13-D - Misconduct Relating to Banking Organizations
660 - Misconduct of Officers, Directors, Trustees, or Employees of Banking Corporations and of Private Bankers. - § 660. Misconduct of officers, directors, trustees, or employees of...
661 - Officer or Agent of Banking Corporation or a Private Banker Making Guaranty or Endorsement Beyond the Legal Limit. - § 661. Officer or agent of banking corporation or a...
662 - Bank Officer or Employee Overdrawing His Account or Asking for or Receiving Commissions or Gratuities From Persons Procuring Loans or Making Overdraft - § 662. Bank officer or employee overdrawing his account or...
663 - Receiving Deposits in Insolvent Bank. - § 663. Receiving deposits in insolvent bank. An officer, agent,...
664 - Unlawful Investments by Officers of Mutual Savings Banks. - § 664. Unlawful investments by officers of mutual savings banks....
665 - Misconduct by Directors of Banking Corporations. - § 665. Misconduct by directors of banking corporations. Every director...
666-A - Loans to Be Guaranteed by New York State Higher Education Assistance Corporation. - § 666-a. Loans to be guaranteed by New York state...
668 - Use of Checks With Certain Photographs or Drawings Reproduced Thereon Prohibited. - § 668. Use of checks with certain photographs or drawings...
669 - Unauthorized Use of the Term "Bank" or "Trust company." - § 669. Unauthorized use of the term "bank" or "trust...
671 - False Statements or Rumors as to Banking Institutions. - § 671. False statements or rumors as to banking institutions....
672 - Falsification of Books, Reports or Statements of Private Bankers or Corporations Subject to the Banking Law. - § 672. Falsification of books, reports or statements of private...
673 - Abstraction or Misappropriation of Money, Funds or Property, or Misapplication of Credit of Private Bankers or Corporations to Which the Banking Law I - § 673. Abstraction or misappropriation of money, funds or property,...
674 - Presumption of Knowledge of Corporate Condition and Business and of Assent Thereto by Directors; Definitions. - § 674. Presumption of knowledge of corporate condition and business...
674-A - Unlawful Undertakings. - § 674-a. Unlawful undertakings. 1. Every undertaking, whether written or...
Article 13-E - Joint Deposits and Shares; Unauthorized Withdrawals; Withdrawals From Decedents' Accounts
675 - Joint Deposits and Shares; Ownership and Payment. - (b) The making of such deposit or the issuance of...
676 - Unauthorized Withdrawals From Savings or Time Deposit Accounts. - § 676. Unauthorized withdrawals from savings or time deposit accounts....
677 - Decedents' Accounts, Withdrawals by Authorized Persons. - § 677. Decedents' accounts, withdrawals by authorized persons. 1. The...
678 - Accounts for Convenience Only. - § 678. Accounts for convenience only. 1. When a deposit...
679 - Public Awareness; Banking Services. - § 679. Public awareness; banking services. The superintendent shall conduct...
Article 14 - Laws Repealed; Construction; When to Take Effect.
700 - Laws Repealed. - § 700. Laws repealed. Of the laws enumerated in the...
701 - Construction. - § 701. Construction. The provisions of this chapter shall be...
702 - When to Take Effect. - § 702. When to take effect. This act, except the...
Article 14-A - Student Loan Servicers
710 - Definitions. - (a) receiving any payment from a borrower pursuant to the...
711 - Licensing. - § 711. Licensing. 1. Except as provided in subdivisions two,...
712 - Application for a Student Loan Servicer License; Fees. - (a) an affirmation of financial solvency noting such capitalization requirements...
713 - Application Process to Receive License to Engage in the Business of Student Loan Servicing. - (a) within the last ten years prior to the date...
714 - Changes in Officers and Directors. - § 714. Changes in officers and directors. Upon any change...
715 - Changes in Control. - § 715. Changes in control. 1. It shall be unlawful...
716 - Grounds for Suspension or Revocation of License. - (a) a servicer has violated any provision of this article,...
717 - Books and Records; Reports and Electronic Filing. - (b) In addition to annual reports, the superintendent may require...
718 - Rules and Regulations. - (a) Such rules and regulations in connection with the activities...
719 - Prohibited Practices. - § 719. Prohibited practices. No student loan servicer shall: 1....
720 - Servicing Student Loans Without a License. - § 720. Servicing student loans without a license. 1. Whenever,...
721 - Responsibilities. - (b) For purposes of this subdivision, "nonconforming payment" shall mean...
722 - Examinations. - § 722. Examinations. 1. The superintendent may at any time,...
723 - Penalties for Violation of This Article. - § 723. Penalties for violation of this article. 1. In...
724 - Severability of Provisions. - § 724. Severability of provisions. If any provision of this...
725 - Compliance With Other Laws. - § 725. Compliance with other laws. 1. Student loan servicers...
Article 15 - General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies
Title 1 - Definitions; Application; Certificates; Miscellaneous
1001 - Definitions. - § 1001. Definitions. In this article, unless the context otherwise...
1002 - Application. - § 1002. Application. 1. This article applies to every corporation...
1003 - Certificates; Requirements, Signing, Filing, Effectiveness. - § 1003. Certificates; requirements, signing, filing, effectiveness. 1. Every certificate...
1004 - Certificates; Corrections. - § 1004. Certificates; corrections. Any certificate or other instrument relating...
1005 - Certificates as Evidence. - § 1005. Certificates as evidence. 1. Any certificate or other...
1006 - Corporate Seal as Evidence. - § 1006. Corporate seal as evidence. The presence of the...
1007 - When Notice or Lapse of Time Unnecessary; Notices Dispensed With When Delivery Is Prohibited. - § 1007. When notice or lapse of time unnecessary; notices...
1008 - Effect of Invalidity of Part of Article; Severability. - § 1008. Effect of invalidity of part of article; severability....
Title 2 - Corporate Powers
2001 - General Corporate Powers. - (a) To sue and be sued in all courts and...
Title 3 - Corporate Name
3001 - Corporate Name; General. - § 3001. Corporate name; general. Except as otherwise provided in...
3002 - Corporate Name; Exceptions. - (a) Shall not require any corporation, existing or licensed under...
Title 4 - Formation of Corporations
4001 - Incorporation; Organization Certificate; Amount of Capital Stock. - (a) The number of shares to be included in each...
4001-A - Formation of Limited Liability Investment Companies. - (a) the name by which the limited liability investment company...
4001-B - Formation of Limited Liability Trust Companies. - (a) the name by which the limited liability trust company...
4002 - Fingerprints. - (b) The superintendent shall also, concurrent with an investigation of...
4003 - Organization Certificate to Be Submitted to the Superintendent. - § 4003. Organization certificate to be submitted to the superintendent....
4004 - When Corporate Existence Begins; Conditions Precedent to Commencing Business. - (a) All of its capital stock, except such shares as...
4005 - Organization Meeting. - § 4005. Organization meeting. 1. After the corporate existence has...
Title 5 - Corporate Finance
5001 - Authorized Shares. - § 5001. Authorized shares. 1. Every corporation shall have power...
5002 - Issue of Any Class of Preferred Shares in Series. - (a) The name of the corporation and, if it has...
5003 - Subscription for Shares; Time of Payment, Forfeiture for Default. - § 5003. Subscription for shares; time of payment, forfeiture for...
5004 - Consideration and Payment for Shares. - § 5004. Consideration and payment for shares. 1. Consideration for...
5005 - Transferable Rights to Purchase Shares; Imposition of Restrictions or Conditions Thereon. - (b) Determinations of the board of directors whether to impose,...
5006 - Compensation for Formation, Reorganization and Financing. - § 5006. Compensation for formation, reorganization and financing. The reasonable...
5007 - Certificates Representing Shares. - (a) That the corporation is formed under the laws of...
5008 - Fractions of a Share or Scrip Authorized. - § 5008. Fractions of a share or scrip authorized. 1....
5009 - Dividends or Other Distributions in Cash or Property. - § 5009. Dividends or other distributions in cash or property....
5010 - Share Distributions and Changes. - (a) Such shares shall be issued at not less than...
5011 - Redeemable Shares. - § 5011. Redeemable shares. 1. A corporation may provide in...
5012 - Purchase or Redemption by a Corporation of Its Own Shares. - § 5012. Purchase or redemption by a corporation of its...
5013 - Agreements for Purchase by a Corporation of Its Own Shares. - § 5013. Agreements for purchase by a corporation of its...
5014 - Reacquired Shares. - § 5014. Reacquired shares. 1. Shares that have been issued...
5015 - Capital Notes and Debentures. - § 5015. Capital notes and debentures. No corporation shall issue...
5016 - Convertible Shares, Capital Notes and Debentures. - (a) A sufficient number of authorized but unissued shares of...
Title 5-A - Limited Liability Investment Company or Limited Liability Trust Company Finance
5050 - Company Finance. - § 5050. Company finance. Notwithstanding the provisions of title five...
Title 6 - Stockholders
6001 - By-Laws. - § 6001. By-laws. 1. The initial by-laws of a corporation...
6002 - Meetings of Stockholders. - § 6002. Meetings of stockholders. 1. Meetings of stockholders may...
6003 - Special Meeting for Election of Directors. - § 6003. Special meeting for election of directors. 1. If,...
6004 - Fixing Record Date. - (a) The record date for the determination of stockholders entitled...
6005 - Notice of Meetings of Stockholders. - § 6005. Notice of meetings of stockholders. 1. Whenever under...
6006 - Waivers of Notice. - § 6006. Waivers of notice. Notice of meeting need not...
6007 - List of Stockholders at Meetings. - § 6007. List of stockholders at meetings. A list of...
6008 - Quorum of Stockholders. - § 6008. Quorum of stockholders. 1. The holders of a...
6009 - Proxies. - (a) A pledgee; (b) A person who has purchased or...
6010 - Selection of Inspectors at Stockholders' Meetings. - § 6010. Selection of inspectors at stockholders' meetings. Unless otherwise...
6011 - Duties of Inspectors at Stockholders' Meetings. - § 6011. Duties of inspectors at stockholders' meetings. The inspectors...
6012 - Qualification of Voters. - § 6012. Qualification of voters. 1. Every stockholder of record...
6013 - Limitations on Right to Vote. - § 6013. Limitations on right to vote. The organization certificate...
6014 - Vote of Stockholders. - § 6014. Vote of stockholders. 1. Directors shall, except as...
6015 - Written Consent of Stockholders, Subscribers or Incorporators Without a Meeting. - § 6015. Written consent of stockholders, subscribers or incorporators without...
6016 - Greater Requirement as to Quorum and Vote of Stockholders. - (a) That the proportion of shares, or the proportion of...
6017 - Voting by Class or Classes of Shares. - § 6017. Voting by class or classes of shares. 1....
6018 - Cumulative Voting. - § 6018. Cumulative voting. The organization certificate of any corporation...
6019 - Powers of Supreme Court Respecting Elections. - § 6019. Powers of supreme court respecting elections. Upon the...
6020 - Agreements as to Voting. - § 6020. Agreements as to voting. An agreement between two...
6021 - Preemptive Rights. - (a) "Unlimited dividend rights" means the right without limitation as...
6022 - Procedure to Enforce Stockholder's Right to Receive Payment for Shares. - (a) The corporation or, in the case of a merger,...
6023 - Books and Records; Right of Inspection, Prima Facie Evidence. - § 6023. Books and records; right of inspection, prima facie...
6024 - Infant Securityholders. - § 6024. Infant securityholders. 1. A corporation may treat an...
6025 - Stockholders' Derivative Action Brought in the Right of the Corporation to Procure a Judgment in Its Favor. - § 6025. Stockholders' derivative action brought in the right of...
6026 - Security for Expenses in Stockholders' Derivative Action Brought in the Right of the Corporation to Procure a Judgment in Its Favor. - § 6026. Security for expenses in stockholders' derivative action brought...
6029 - Liability of Stockholders for Wages Due to Laborers, Servants or Employees. - § 6029. Liability of stockholders for wages due to laborers,...
Title 6-A - Membership in a Limited Liability Investment Company or a Limited Liability Trust Company
6050 - Company Membership. - § 6050. Company membership. The members of a limited liability...
Title 7 - Directors and Officers
7001 - Board of Directors; Qualifications and Disqualifications. - (b) At least one-third of the directors of a safe...
7002 - Number of Directors; Definition of "Entire Board". - (b) The number of directors constituting the entire board shall...
7003 - Election and Tenure of Directors. - § 7003. Election and tenure of directors. 1. At each...
7004 - Classification of Directors. - (a) The organization certificate or the specific provisions of a...
7005 - Vacancies and Newly Created Directorships. - (a) The persons named in the organization certificate as the...
7006 - Removal of Directors. - (a) In the case of a corporation having cumulative voting,...
7007 - Quorum of Directors. - § 7007. Quorum of directors. 1. Subject to subdivision two...
7008 - Action by the Board. - § 7008. Action by the board. 1. Any reference in...
7009 - Greater Requirement as to Quorum and Vote of Directors. - (a) That the proportion of directors that shall constitute a...
7010 - Place and Time of Meetings of the Board. - § 7010. Place and time of meetings of the board....
7011 - Notice of Board Meetings; Waiver; Adjournment. - § 7011. Notice of board meetings; waiver; adjournment. 1. Unless...
7012 - Executive Committee and Other Committees. - (a) The submission to stockholders of any action that needs...
7013 - Officers. - § 7013. Officers. 1. The board of every corporation, at...
7014 - Removal of Officers. - § 7014. Removal of officers. 1. Any officer elected or...
7015 - Duty of Directors and Officers; Oath of Directors. - (i) the prospects for potential growth, development, productivity and profitability...
7016 - Liability of Directors in Certain Cases. - § 7016. Liability of directors in certain cases. 1. Directors...
7017 - Actions Against Directors and Officers for Misconduct. - (a) To compel the defendant to account for his official...
7018 - Nonexclusivity of Statutory Provisions for Indemnification of Directors and Officers. - § 7018. Nonexclusivity of statutory provisions for indemnification of directors...
7019 - Authorization for Indemnification of Directors and Officers. - § 7019. Authorization for indemnification of directors and officers. 1....
7020 - Payment of Indemnification Other Than by Court Award. - (a) By the board acting by a quorum consisting of...
7021 - Indemnification of Directors and Officers by a Court. - (a) In the civil action or proceeding in which the...
7022 - Other Provisions Affecting Indemnification of Directors and Officers. - (a) That the indemnification would be inconsistent with a provision...
7023 - Insurance for Idemnification of Directors and Officers. - (1) To indemnify the corporation for any obligation which it...
Title 8 - Amendments and Changes
8001 - Right to Amend Organization Certificate. - (a) To change its corporate name. (b) In the case...
8002 - Reduction of Capital Stock by Amendment. - § 8002. Reduction of capital stock by amendment. A corporation...
8003 - Authorization of Amendment or Change. - § 8003. Authorization of amendment or change. 1. Amendment of...
8004 - Class Voting on Amendment. - (a) Exclude or limit their right to vote on any...
8005 - Certificate of Amendment or of Change; Contents. - (a) The name of the corporation and, if it has...
8006 - Provisions as to Certain Proceedings. - (a) Any changes that may be made in the relative...
8007 - Restated Organization Certificate. - (a) The name of the corporation and, if it has...
Article 16 - General Provisions Applicable to Banking Non-Stock Corporations
9001 - Definitions. - § 9001. Definitions. In this article, unless the context otherwise...
9001-A - Fingerprints. - (a) Notwithstanding any other provision of law, every incorporator of...
9002 - Application. - § 9002. Application. 1. To the extent not inconsistent with...
9003 - Certificates; Requirements, Signing, Filing, Effectiveness. - § 9003. Certificates; requirements, signing, filing, effectiveness. 1. Every certificate...
9004 - Certificates; Corrections. - § 9004. Certificates; corrections. Any certificate or other instrument relating...
9005 - Nonexclusivity of Statutory Provisions for Indemnification of Directors and Officers. - § 9005. Nonexclusivity of statutory provisions for indemnification of directors...
9006 - Authorization for Indemnification of Directors and Officers. - § 9006. Authorization for indemnification of directors and officers. 1....
9007 - Payment of Indemnification Other Than by Court Award. - (a) By the board acting by a quorum consisting of...
9008 - Indemnification of Directors and Officers by a Court. - (a) In the civil action or proceeding in which the...
9009 - Other Provisions Affecting Indemnification of Directors and Officers. - (a) That the indemnification would be inconsistent with a provision...
9010-A - Insurance for Indemnification of Directors and Officers. - (a) To indemnify the corporation for any obligation which it...
9011 - Certificates as Evidence. - § 9011. Certificates as evidence. 1. Any certificate or other...
9012 - Corporate Seal as Evidence. - § 9012. Corporate seal as evidence. The presence of the...
9013 - When Notice or Lapse of Time Unnecessary; Notices Dispensed With When Delivery Is Prohibited. - § 9013. When notice or lapse of time unnecessary; notices...
9014 - Corporate Name; General. - § 9014. Corporate name; general. Except as otherwise provided in...
9015 - Corporate Name; Exceptions. - (a) Shall not require any corporation existing or recognized under...
9016 - Change of Name. - § 9016. Change of name. By resolution adopted by a...
9017 - Place and Time of Meetings of the Board; Presence At. - § 9017. Place and time of meetings of the board;...
9018 - Effect of Invalidity of Part of Article; Severability. - § 9018. Effect of invalidity of part of article; severability....
9019 - Certain Provisions Relating to the Conversion of Non-Stock Savings Banks and Savings and Loan Associations to Stock Form. - § 9019. Certain provisions relating to the conversion of non-stock...