New York § 106 Deposits by banks and trust companies with other banking corporations and private bankers; restrictions

New York Statutes

§ 106 — Deposits by banks and trust companies with other banking corporations and private bankers; restrictions

New York § 106

Law BNKBanking

Art. 3Banks and Trust Companies

This text of New York § 106 (Deposits by banks and trust companies with other banking corporations and private bankers; restrictions) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 106 (2026).

Text

§ 106. Deposits by banks and trust companies with other banking\ncorporations and private bankers; restrictions.

1.No bank or trust\ncompany shall deposit any of its funds with any other foreign or\ndomestic banking corporation or private banker in an amount exceeding\none hundred per centum of the capital stock, surplus fund and undivided\nprofits of such bank or trust company unless such other banking\ncorporation or private banker has been approved by the superintendent as\na depositary for the purpose of this section, in which case the amount\nso deposited may equal but shall not exceed such per centum of the\ncapital stock, surplus fund and undivided profits of such bank or trust\ncompany as the superintendent shall approve.\n 2. The restrictions contained in this section shall n

Free access — add to your briefcase to read the full text and ask questions with AI

§ 106. Deposits by banks and trust companies with other banking\ncorporations and private bankers; restrictions. 1. No bank or trust\ncompany shall deposit any of its funds with any other foreign or\ndomestic banking corporation or private banker in an amount exceeding\none hundred per centum of the capital stock, surplus fund and undivided\nprofits of such bank or trust company unless such other banking\ncorporation or private banker has been approved by the superintendent as\na depositary for the purpose of this section, in which case the amount\nso deposited may equal but shall not exceed such per centum of the\ncapital stock, surplus fund and undivided profits of such bank or trust\ncompany as the superintendent shall approve.\n 2. The restrictions contained in this section shall not apply to\ndeposits by any bank or trust company with a federal reserve bank.\n