New York § 236 Deposits by savings banks with other banking corporations and private bankers; restrictions

New York Statutes

§ 236 — Deposits by savings banks with other banking corporations and private bankers; restrictions

New York § 236

Law BNKBanking

Art. 6Savings Banks

This text of New York § 236 (Deposits by savings banks 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 § 236 (2026).

Text

§ 236. Deposits by savings banks with other banking corporations and\nprivate bankers; restrictions.

1.Except for investments made pursuant\nto subdivision twelve-a of section two hundred thirty-five of this\nchapter, no savings bank shall deposit any of its funds with any other\nbanking corporation or private banker unless such corporation or private\nbanker has been designated as a depositary by vote of a majority of all\nthe trustees of the savings bank, exclusive of any trustee who is an\nofficer, partner, director or trustee of the depositary so designated.\n 2. The amount deposited by any savings bank in any depositary,\nincluding investments made pursuant to subdivisions twelve-a and\ntwelve-b of section two hundred thirty-five of this chapter, shall not\nexceed twenty-five per

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

§ 236. Deposits by savings banks with other banking corporations and\nprivate bankers; restrictions. 1. Except for investments made pursuant\nto subdivision twelve-a of section two hundred thirty-five of this\nchapter, no savings bank shall deposit any of its funds with any other\nbanking corporation or private banker unless such corporation or private\nbanker has been designated as a depositary by vote of a majority of all\nthe trustees of the savings bank, exclusive of any trustee who is an\nofficer, partner, director or trustee of the depositary so designated.\n 2. The amount deposited by any savings bank in any depositary,\nincluding investments made pursuant to subdivisions twelve-a and\ntwelve-b of section two hundred thirty-five of this chapter, shall not\nexceed twenty-five per centum of the net worth as shown by the last\npublished statement of such depositary, if a corporation, or twenty-five\nper centum of the permanent capital and surplus as shown by the last\npublished statement of such depositary, if a private banker, or five per\ncentum of the aggregate amount credited to the depositors of such\nsavings bank, whichever is smaller.\n