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 […]
235-D – Service Corporations Owned by Savings Banks; Authorized Activities of Such Corporations; Investment Therein.
§ 235-d. Service corporations owned by savings banks; authorized activities of such corporations; investment therein. 1. A savings bank may invest in the stock, capital notes and debentures of one or more service corporations organized under the laws of this state for the sole activities set forth in subdivision two of this section, to the […]
236 – Deposits by Savings Banks With Other Banking Corporations and Private Bankers; Restrictions.
§ 236. Deposits by savings banks with other banking corporations and private bankers; restrictions. 1. Except for investments made pursuant to subdivision twelve-a of section two hundred thirty-five of this chapter, no savings bank shall deposit any of its funds with any other banking corporation or private banker unless such corporation or private banker has […]
237 – Deposits With Savings Banks; Restrictions.
§ 237. Deposits with savings banks; restrictions. 1. No savings bank shall accept any deposit for credit to any executor, administrator, trustee, committee, conservator or guardian, named in a will or appointed by a court of competent jurisdiction, unless a certified copy of the will, order or decree of the court authorizing such deposits or […]
238 – Regulations and Restrictions as to Repayment of Deposits.
§ 238. Regulations and restrictions as to repayment of deposits. 1. The repayment of deposits made with any savings bank and any interest credited thereto, shall be subject to the provisions of this chapter and to rules and regulations made in accordance therewith. Any such regulations adopted by the board of trustees shall be posted […]
234 – General Powers.
§ 234. General powers. Every savings bank shall have, subject to the restrictions and limitations contained in this chapter, the following powers: 1. To receive and repay deposits, including demand deposits; invest its funds; pay interest on deposits; and exercise all such incidental powers as shall be necessary to conduct the business of a savings […]
234-A – Settlement, Modification or Readjustment of Investment.
§ 234-a. Settlement, modification or readjustment of investment. A savings bank may consent to any settlement, modification or readjustment of any investment in securities legally made by such savings bank, and may accept and hold stocks, bonds, notes, securities or other property, real or personal, offered in full or partial settlement, modification or readjustment of […]
229 – Application.
§ 229. Application. 1. This article applies to every savings bank and shall not apply to any other banking organization except to such extent, if any, as may be specified in any article of this chapter governing such banking organization; provided, however, that in the case of stock-form savings banks, this article applies to every […]
230 – Incorporation; Organization Certificate.
§ 230. Incorporation; organization certificate. When authorized by the superintendent as provided in article two of this chapter, not less than nine nor more than twenty persons may incorporate a savings bank. They shall subscribe and acknowledge an organization certificate in duplicate, which shall specifically state: 1. The name by which the corporation is to […]