§ 111. Profits; credits to surplus fund and to undivided profits. In any case where the combined capital stock, surplus fund and undivided profits of a bank or trust company do not equal ten per centum of its net deposit liabilities, the superintendent of financial services may in his or her discretion require such bank […]
§ 112. Dividends; payable from net profits; restrictions. 1. The directors of a bank or trust company may annually, semi-annually or quarterly, but not more frequently unless authorized by the superintendent by regulation or otherwise, declare such dividends as they deem judicious to be paid from net profits. No dividend shall be declared, credited or […]
§ 113. Change of location; change of designation of principal office. Any bank or trust company 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 […]
§ 114. Assessment of stockholders to make good impairment of capital stock; sale of stock. Whenever the superintendent shall have made requisition upon any bank or trust company pursuant to the provisions of article two of this chapter to make good the amount of an impairment of its capital stock, the directors of the bank […]
§ 121. Reports to directors. The board of directors shall, at least once in each year by resolution duly recorded in the minutes, designate an officer or officers whose duty it shall be to prepare and submit, either to each director present at each regular meeting of the board, or to each member of an […]
§ 122. Examinations of banks and trust companies by directors; employment of assistants. 1. It shall be the duty of the board of directors of every bank and every trust company once in each calendar year to examine, or cause a committee of at least three of its members to examine, such bank or trust […]
§ 123. Reports of directors’ examinations. 1. A report in writing of any examination made pursuant to the requirements of section one hundred twenty-two of this article, shall be presented to the board of directors of such bank or trust company at their next regular meeting after completion of such examination, and placed on file […]
§ 124. Communications from department of financial services to be submitted to directors and noted in minutes. Any officer of a bank or trust company who receives from the office of the superintendent an official communication as defined in article two of this chapter shall submit such communication to the board of directors at the […]
§ 125. Reports to superintendent; penalty for failure to make. 1. Within fifteen days after service upon it of the notice provided for by section thirty-seven of this chapter, every bank and every trust company shall make a written report of its financial condition to the superintendent, which report shall be in such form and […]
§ 128. Preservation of books and records. Every bank and every trust company shall preserve all its records of final entry, including cards used under the card system and deposit tickets, for a period of at least six years from the date of making the same or from the date of the last entry thereon; […]
§ 129. Requirement of notice on withdrawal of certain time deposits; notice to superintendent. In the event that any bank or trust company shall elect to require that thirty or more days’ notice be given before time deposits payable only on presentation of a passbook may be withdrawn the bank or trust company shall upon […]
§ 129-a. Requirement of written notification; alternative payment schedules. In the event that any bank or trust company shall permit a customer to establish an alternative payment schedule for an existing loan, the bank or trust company shall provide written notification that accepting such alternative payment schedule may have a negative impact on such customer’s […]
§ 130. Restrictions on officers, directors and employees. 1. No officer, director, clerk or other employee of any bank or trust company, and no person in any way interested or concerned in the management of its affairs, shall, acting on his own behalf or for any partnership or unincorporated association of which he is a […]
§ 131. Prohibitions against encroachments upon certain powers of banks and trust companies. 1. No person unauthorized by law shall subscribe to or become a member of, or be in any way interested in any association, institution or company formed or to be formed for the purpose of issuing notes or other evidences of debt […]
§ 132. Use of sign, or words, indicating bank or trust company by unauthorized persons prohibited. No person, except a national bank, a federal reserve bank, or a corporation duly authorized by the superintendent to transact business in this state, shall make use of any office sign at the place where such business is transacted […]
§ 133. Use of banking institution name. 1. No person shall use the name of a banking institution when advertising, marketing or soliciting business which is likely to induce, directly or indirectly, the purchase of goods or services, if the reference to such institution is: (a) without the consent of the banking institution; and (b) […]
§ 134. Repayment of deposits standing in the names of minors, trustees or joint depositors; repayment where adverse claim is asserted; interpleader in certain actions; effect of claims or advices originating in, and statutes, rules or regulations purporting to be in force in occupied territories. 1. Any minor may endorse a check payable to his […]
§ 136. Change of national banking association into state bank by conversion or merger. 1. A national banking association may convert into or merge with a state bank under a state charter, provided that the action taken complies with federal law. Each such conversion or merger shall be subject to the requirements of this chapter. […]
§ 136-a. Purchase of assets of national banking association by bank or trust company. 1. A state bank or trust company may acquire, whether by purchase or otherwise, other than by merger, all or a substantial part of the assets of a national banking association, provided that the action taken complies with federal law. 2. […]
§ 136-b. Approval of superintendent. The superintendent shall approve or disapprove of a proposed merger as authorized by section one hundred thirty-six of this article or a proposed acquisition of all or a substantial part of the assets of a national banking association as authorized by section one hundred thirty-six-a of this article, as the […]
