§ 336 — Special remedies where property is deposited

New York § 336

• Jurisdiction: New York
• Law BNK: Banking
• Art. 8-A: Safe Deposit Business

Text

§ 336. Special remedies where property is deposited. 1. Every banking\norganization, foreign banking corporation or national banking\nassociation authorized to receive personal property upon deposit for\nsafe-keeping or as bailee for storage, and which shall have received any\nsuch property and shall have issued a receipt therefor, shall have the\nremedies of a warehouseman as to such property, and the banking\norganization, foreign banking corporation or national banking\nassociation shall have a lien on such deposits or the proceeds thereof\nto the same extent and with the same effect, and enforceable in the same\nmanner, as is provided by article seven of the uniform commercial code.\n 2. A banking organization, foreign banking corporation or national\nbanking association holding personal property upon deposit for which a\nreceipt was issued by a predecessor in interest may have the remedies\nprovided by this section.\n 3. The provisions of this section shall not preclude any other remedy\nby action or otherwise for the enforcement of the claim of the banking\norganization, foreign banking corporation or national banking\nassociation against the person from whom personal property has been\nreceived upon deposit and to whom a receipt shall have been issued\ntherefor, nor bar the right of the banking organization, foreign banking\ncorporation or national banking association to recover the debt due it\nin any other lawful manner.\n