New York § 631 Actions against directors, trustees, managers or officers for violation of their official duties

New York Statutes

§ 631 — Actions against directors, trustees, managers or officers for violation of their official duties

New York § 631

Law BNKBanking

Art. 13Merger; Voluntary Dissolution; Superintendent's Taking Possession; Reorganization; Liquidation

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Bluebook

N.Y. Banking § 631 (2026).

Text

  § 631. Actions against directors, trustees, managers or officers for\nviolation of their official duties. At any time while the superintendent\nis in possession of the property and business of any corporation, he may\nwithin six years after the cause of action has accrued institute and\nmaintain in his name as superintendent of financial services against its\ndirectors, trustees, managers or officers, or any of them, any action or\nproceeding which is vested in such corporation or in the stockholders or\ncreditors thereof.\n

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§ 631. Actions against directors, trustees, managers or officers for\nviolation of their official duties. At any time while the superintendent\nis in possession of the property and business of any corporation, he may\nwithin six years after the cause of action has accrued institute and\nmaintain in his name as superintendent of financial services against its\ndirectors, trustees, managers or officers, or any of them, any action or\nproceeding which is vested in such corporation or in the stockholders or\ncreditors thereof.\n