172 – Restrictions on Investments.
§ 172. Restrictions on investments. 1. Every private banker may, subject to the limitations and restrictions contained in this article, make such investments of funds held by him as a private banker in real or personal securities, or personal property, as are consistent with safety and prudence of management. 2. No private banker shall appropriate […]
173 – Rate of Interest; Effect of Usury.
§ 173. Rate of interest; effect of usury. 1. No private banker shall take, receive, reserve or charge on any loan or discount made, or upon any note, bill of exchange or other evidence of debt, interest as computed pursuant to this section, at a rate greater than the rate prescribed by the superintendent of […]
174 – Restrictions on Purchases Of, and Loans on Real Estate.
§ 174. Restrictions on purchases of, and loans on real estate. 1. No private banker shall purchase with funds held by him as private banker any real estate except a plot upon which there is or may be erected a building suitable for the convenient transaction of his business; nor make a loan of such […]
175 – Books and Records.
§ 175. Books and records. 1. Every private banker shall keep separate and complete books of account in which shall be promptly entered the details of all business transacted by him as a private banker including statements in detail of the liabilities incurred by him as a private banker and of the securities or property […]
176 – Reports Required by Superintendent; Penalty for Failure to Make.
§ 176. Reports required by superintendent; penalty for failure to make. Within fifteen days after service upon any private banker of the notice provided for by section thirty-seven of this chapter, he shall make a written report to the superintendent of the financial condition of his business as a private banker, which report shall be […]
163 – Restrictions as to Place of Business.
§ 163. Restrictions as to place of business. The office of a private banker shall not be located in the same room with, or in a room connecting with, any bank, trust company, savings bank, or national bank.
164 – Change of Location.
§ 164. Change of location. Any private banker may make a written application to the superintendent to change the location of his office to another place in the same city or village. The application shall state the reason for such proposed change and shall be verified by such private banker, or if such private banker […]
160 – Verified Certificate.
§ 160. Verified certificate. Any individual or partnership desiring to engage in business as a private banker shall submit to the superintendent a verified certificate in duplicate which shall state: 1. The full name, residence and post office address of such individual or of each member of such partnership. 2. The state or country of […]
161 – Authorization Certificate.
§ 161. Authorization certificate. If the superintendent shall issue an authorization certificate as provided in article two of this chapter, such individual or partnership may engage in the business of banking including receiving deposits subject to check or for repayment upon the presentation of a pass book, certificate of deposit or other evidence of debt, […]
162 – Permanent Capital; Increase or Decrease.
§ 162. Permanent capital; increase or decrease. Every private banker shall keep unimpaired in his banking business the amount of permanent capital specified in his verified certificate. From time to time, with the written approval of the superintendent and upon good cause shown, such permanent capital may be increased or decreased.