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New York Consolidated Laws

10

Savings and Loan Associations

375Incorporation; organization certificate 376Proposed by-laws 377When corporate existence begins 378Power to issue shares; dues thereon 378-ATime deposits 378-BClub accounts 378-CExcelsior linked deposit program 378-DPreservation of books and records 378-EWater pollution control linked deposit program 379Power to invest in securities 379-BService corporation owned by associations; authorized activities of such corporation; investment therein 380Power to make loans 380-APower to purchase mortgage, loan or investment 380-BPower to purchase mortgages from mortgage holders 380-CPower to participate in certain loans and mortgage investments 380-EEffect of usury 380-FPower to make advances of federal funds 380-GPower to engage in line of credit financing of residential real estate 380-HTrust powers 380-IPersonal loan departments 380-JAuthorization to acquire and lease personal property 380-KInvestment in promissory notes 380-LExcelsior linked deposit program 380-MWater pollution control linked deposit program 381Power to take and hold real estate; restrictions 382Power to borrow 382-APower to act as trustee under self-employed retirement trust and of individual retirement account; investment in savings account 382-BPower to issue certain obligations 383Other powers 383-ARental of safe deposit boxes 384Entries in books; restrictions; amortization of securities 385Surplus account 386Profits; how and when to be computed 387Credits to surplus account and undivided profits; dividends to shareholders 388Fines and penalties for failure to make payments on instalment shares 389Matured shares; conversion into shares of another class upon notice 390Withdrawal of unpledged shares; provisions for dividends 392Retirement of shares; suspension; transfer 393Repayment of mortgage loans; application of pledged shares 394Joint shares; shares of minors; shares in trust 395Alternative provisions relative to payment of interest to shareholders 396Change of location; change of designation of principal office; maintenance of branch office 396-AElectronic facilities 396-BAcceptance of United States currency 397Number, qualifications and disqualifications of directors; oath; quorum; meeting of directors 397-AReport to directors 398Filling of vacancies in board of directors; change in number of directors 398-AForfeiture of office of director 398-BDuties of directors and officers 398-CExecutive committee and other committees 399Restrictions on directors and officers 399-ARestrictions on holding of certain offices by executive officers of federal savings banks and federal savings associations 400Pensions; insurance 401Official communications to be submitted to directors and noted in minutes 402Amendment of articles of association and by-laws 403Examination by directors 404Reports to the superintendent; penalty for failure to make 404-APhotographic reproduction of records 405Annual report to shareholders; delivery and publication 406Charters conformed to this article; obligations and rights unimpaired; saving clause; applicability to stock-form savings and loan associ...407Exemptions 409Conversion of a state savings and loan association into a federal savings and loan association 410Conversion of a federal savings and loan association into a state savings and loan association 411Conversion of a savings and loan association or federal savings and loan association into a savings bank 412Conversion of federal savings institutions to state charter 413Reciprocal interstate acquisitions