New York Savings Bank v. Joseph

Appellate Division of the Supreme Court of New York

New York Savings Bank v. Joseph

281 A.D. 815, 118 N.Y.S.2d 893

CourtAppellate Division of the Supreme Court of the State of New York

DecidedFebruary 10, 1953

StatusPublished

This text of 281 A.D. 815 (New York Savings Bank v. Joseph) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

New York Savings Bank v. Joseph, 281 A.D. 815, 118 N.Y.S.2d 893 (N.Y. Ct. App. 1953).

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Opinion

Savings banks having life insurance departments issuing mutual policies under article 10-A of the Insurance Law, were regarded as mutual companies within the coverage of the Insurance Law. (Matter of Columbian Protective Assn. v. McGoldrick, 292 N. Y. 171, 174.) The subsequent translation of article 10-A from the Insurance Law to become article VI-A of the Banking Law did not alter their character. Such a department of a savings bank partakes of the nature of a mutual life insurance company for the purpose of determining the applicability of the municipal gross receipts law. Therefore, the determination is unanimously confirmed, with $20 costs and disbursements to the respondents. Present — Dore, J. P., Cohn, Callahan, Van Voorhis and Breitel, JJ. [See post, pp. 864, 882.]

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Savings banks having life insurance departments issuing mutual policies under article 10-A of the Insurance Law, were regarded as mutual companies within the coverage of the Insurance Law. (Matter of Columbian Protective Assn. v. McGoldrick, 292 N. Y. 171, 174.) The subsequent translation of article 10-A from the Insurance Law to become article VI-A of the Banking Law did not alter their character. Such a department of a savings bank partakes of the nature of a mutual life insurance company for the purpose of determining the applicability of the municipal gross receipts law. Therefore, the determination is unanimously confirmed, with $20 costs and disbursements to the respondents. Present — Dore, J. P., Cohn, Callahan, Van Voorhis and Breitel, JJ. [See post, pp. 864, 882.]

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Bluebook (online)

281 A.D. 815, 118 N.Y.S.2d 893, Counsel Stack Legal Research, https://law.counselstack.com/opinion/new-york-savings-bank-v-joseph-nyappdiv-1953.

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