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New York Consolidated Laws

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Banks and Trust Companies

94Change from bank to trust company; from trust company to bank 96General powers 96-AServicing of mortgages by banks 96-BPayroll payment by banks or trust companies 96-CPower to act as trustee under self-employed retirement trust or individual retirement trust 96-DBanking development districts 97Power to purchase securities and stocks 98Power to take and hold real estate; restrictions 98-AClub accounts 100Fiduciary powers 100-AFiduciary capacities; appointment by court authorized; bond; oath; accounting 100-BInvestments as fiduciary; when interest is to be paid; preference 100-CCommon trust funds 100-DForeign common trust funds 101Additional powers of certain trust companies 102Powers of specially chartered trust companies 102-ALimited liability trust companies 103Restrictions on loans, purchases of securities and total liabilities to bank or trust company of any one person 104Entries in books; restrictions; amortization of securities 105Branch offices; prohibition against doing business at unauthorized places 105-AElectronic facilities 105-BTrust offices 106Deposits by banks and trust companies with other banking corporations and private bankers; restrictions 107Reserves against deposits 107-ASecurity for public deposits 108Rates of interest; installment obligations; personal loan departments 108-AAcceptance of United States currency 109Closing of books; profits; how to be computed 110Surplus fund; of what composed, and for what purposes used 111Profits; credits to surplus fund and to undivided profits 112Dividends; payable from net profits; restrictions 113Change of location; change of designation of principal office 114Assessment of stockholders to make good impairment of capital stock; sale of stock 121Reports to directors 122Examinations of banks and trust companies by directors; employment of assistants 123Reports of directors' examinations 124Communications from department of financial services to be submitted to directors and noted in minutes 125Reports to superintendent; penalty for failure to make 128Preservation of books and records 129Requirement of notice on withdrawal of certain time deposits; notice to superintendent 129-ARequirement of written notification; alternative payment schedules 130Restrictions on officers, directors and employees 131Prohibitions against encroachments upon certain powers of banks and trust companies 132Use of sign, or words, indicating bank or trust company by unauthorized persons prohibited 133Use of banking institution name 134Repayment of deposits standing in the names of minors, trustees or joint depositors; repayment where adverse claim is asserted; interplea...136Change of national banking association into state bank by conversion or merger 136-APurchase of assets of national banking association by bank or trust company 136-BApproval of superintendent 136-CEffect of merger or conversion of national banking association into state bank 137Change of state bank into national banking association by conversion, merger or consolidation 138Foreign branches; performance of contracts and repayment of deposits 139Saving clause 140-AStock option plans