240 – Restrictions as to Place of Business; Branch Offices.
§ 240. Restrictions as to place of business; branch offices. 1. A savings bank shall not be located in the same room with or in a room connecting with any bank, trust company or national bank, unless it be a savings bank lawfully so located when this act takes effect. The prohibitions of this subdivision […]
240-A – Electronic Facilities.
§ 240-a. Electronic facilities. A savings bank may conduct a banking business, at automated teller machines, point-of-sale terminals, and similar facilities subject to regulations which may be promulgated by the superintendent of financial services. Such facilities shall not be deemed to be branches and shall not be subject to any of the provisions of this […]
240-B – Acceptance of United States Currency.
§ 240-b. Acceptance of United States currency. No savings bank shall impose a fee, commission or service charge for accepting for deposit or exchanging for other United States currency any United States currency provided that any coins are properly rolled and have the customer’s account number for that savings bank displayed on the coin roll, […]
241 – Change of Location; Change of Designation of Principal Office.
§ 241. Change of location; change of designation of principal office. Any savings bank may make a written application to the superintendent, such application to be accompanied by an investigation fee as prescribed pursuant to section eighteen-a of this chapter, for leave to change its place or one of its places of business to another […]
242 – Assets; How Entered and Carried on Books; Disallowance by Superintendent.
§ 242. Assets; how entered and carried on books; disallowance by superintendent. 1. No savings bank shall by any system of accounting or any device of bookkeeping, directly or indirectly enter any of its assets upon its books in the name of any individual, partnership or unincorporated association or of any other corporation, or under […]
243 – Surplus Fund.
§ 243. Surplus fund. 1. Every savings bank shall create a fund to be known as a surplus fund. Such fund may be created or increased by contributions made by the incorporators as provided in this article or by transfers from undivided profits or by transfers from earnings as required in this article. Such fund […]
244 – Earnings; How and When to Be Computed; Transfers to Surplus Fund.
§ 244. Earnings; how and when to be computed; transfers to surplus fund. 1. Every savings bank shall close its books no less frequently than quarterly. To determine the amount of gross earnings for any such accounting period the following items shall be included: (a) All earnings actually received, less interest accrued and uncollected included […]
245 – Interest Payments.
§ 245. Interest payments. 1. A savings bank may classify its depositors according to the character, amount or duration of their dealings with the savings bank. 2. In the discretion of a majority of all the trustees, the amounts contributed by incorporators or trustees to the surplus fund may be credited with interest at the […]
235-B – Effect of Usury.
§ 235-b. Effect of usury. The knowingly taking, receiving, reserving, or charging by a savings bank of interest at a rate greater than six per centum per annum, as computed pursuant to this section, or in excess of such greater rate of interest as may be authorized by law, shall be held and adjudged a […]
235-C – Regulation of Certain Charges.
§ 235-c. Regulation of certain charges. The superintendent of financial services shall have the power to prescribe by regulation (i) the maximum charge which may be imposed in this state by a savings bank in connection with a check or other written order drawn upon it on insufficient funds, irrespective of whether the instrument is […]