§ 141. Definitions. 1. “Banking institution,” when used in this article, means a bank, a trust company, a stock-form savings bank or a stock-form savings and loan association. 2. “Company,” when used in this article, means any corporation, partnership, trust, unincorporated association, joint stock association or similar organization organized under the laws of the state […]
§ 142. Limitations on, and regulation of, bank holding companies. 1. It shall be unlawful for any person knowingly to borrow, directly or indirectly, any money or property for the purpose of enabling such person to pay for or to hold shares of stock of a bank holding company from any subsidiary of such bank […]
§ 142-a. Limitation on acquisition of newly chartered banking institutions. 1. No bank holding company may acquire control of any banking institution which has been chartered for less than five years and has its principal office in a city or village with a population of fifty thousand or less if the principal office of a […]
§ 143. Limitations on directors, officers and employees. 1. Every director of a bank holding company who is contingently obligated on any loan or other extension of credit made by a banking subsidiary of the bank holding company of which he is a member of the board of directors to any other individual, partnership, unincorporated […]
§ 143-a. Acquisitions by companies of all the capital stock of banks and trust companies; no change of ultimate control. 1. A company having capital stock or membership interests may acquire all the capital stock or membership interests of one or more corporations organized under or subject to the provisions of article three, six, or […]
§ 143-b. Acquisition by companies of control of banking institutions. 1. It shall be unlawful except with the prior approval of the superintendent for any company to acquire control of any banking institution, directly or indirectly, provided, however, that the provisions of this section shall not apply to a company which has submitted to the […]
§ 145. Penalties; restraining orders and injunctions. 1. Any company which wilfully violates any provision of this article is guilty of a misdemeanor and upon conviction thereof shall be fined not more than one thousand dollars for each day during which such violation continues. 2. Any individual who wilfully participates in a violation of any […]
§ 146. Saving provision. Nothing herein contained shall be interpreted or construed as approving any act, action or conduct which is or has been or may be in violation of existing law, nor shall anything herein contained constitute a defense to any action, suit, or proceeding, pending or hereafter instituted on account of any act, […]
§ 147. Separability of provisions. If any provision of this article, or the application of such provision to any individual, company or circumstance, shall be held invalid, the remainder of the article, and the application of such provision to individuals, companies or circumstances other than those to which it is held invalid, shall not be […]
