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 […]
165 – Segregation of Investments; Title to Be Taken in Descriptive Name.
§ 165. Segregation of investments; title to be taken in descriptive name. 1. Every private banker shall segregate and keep separate and apart from all other property and assets of the individual or partnership all securities and property, and the evidences of title thereto, in which funds held by him as a private banker and […]
166 – Depositors Preferred in Case of Failure or Suspension.
§ 166. Depositors preferred in case of failure or suspension. In case of the failure or suspension of any private banker, the claims of persons for money on deposit or delivered for transmission shall be preferred against such assets as shall be shown by the books of such private banker, or by other legal evidence, […]
167 – Reserves Against Deposits.
§ 167. Reserves against deposits. Every private banker shall maintain total reserves against his deposits of the same amount and kind and on hand or on deposit to the same extent as is at the time required by or pursuant to the provisions of this chapter of a bank doing business in the same place. […]
168 – Restrictions on Acceptance of Deposits and Payment of Interest.
§ 168. Restrictions on acceptance of deposits and payment of interest. No private banker shall: (1) Accept any amount for deposit if after the acceptance of such amount the average amount of the deposits received from all depositors during the twelve month period ending upon the day upon which such deposit is tendered, or during […]
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.
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 […]