New York § 166 Depositors preferred in case of failure or suspension

New York Statutes

§ 166 — Depositors preferred in case of failure or suspension

New York § 166

Law BNKBanking

Art. 4Private Bankers

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Bluebook

N.Y. Banking § 166 (2026).

Text

  § 166. Depositors preferred in case of failure or suspension.  In case\nof the failure or suspension of any private banker, the claims of\npersons for money on deposit or delivered for transmission shall be\npreferred against such assets as shall be shown by the books of such\nprivate banker, or by other legal evidence, to have been derived from\nthe investment of such moneys, or from the investment of permanent\ncapital, such claimants shall also share pro rata with other creditors\nin any other assets of such individual or of such partnership and of the\nindividual members thereof.\n

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§ 166. Depositors preferred in case of failure or suspension. In case\nof the failure or suspension of any private banker, the claims of\npersons for money on deposit or delivered for transmission shall be\npreferred against such assets as shall be shown by the books of such\nprivate banker, or by other legal evidence, to have been derived from\nthe investment of such moneys, or from the investment of permanent\ncapital, such claimants shall also share pro rata with other creditors\nin any other assets of such individual or of such partnership and of the\nindividual members thereof.\n