New York § 400 Pensions; insurance

New York Statutes

§ 400 — Pensions; insurance

New York § 400

Law BNKBanking

Art. 10Savings and Loan Associations

This text of New York § 400 (Pensions; insurance) 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 § 400 (2026).

Text

  § 400. Pensions; insurance. Subject to such regulations as the\nsuperintendent of financial services may prescribe, a savings and loan\nassociation may, in the discretion of a majority of all the directors:\n  1. Provide pensions to officers and employees pursuant to a\nnondiscriminatory plan for service rendered to the savings and loan\nassociation or for having become incapacitated while in service to the\nsavings and loan association, including annual supplements to retirees\nbased upon the "current cost of living index figure" for any calendar\nyear based upon the Consumer Price Index as issued by the bureau of\nlabor statistics of the United States department of labor.\n  2. Provide life insurance for its officers and employees, provided\nthat life insurance is not purchased solely 

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§ 400. Pensions; insurance. Subject to such regulations as the\nsuperintendent of financial services may prescribe, a savings and loan\nassociation may, in the discretion of a majority of all the directors:\n 1. Provide pensions to officers and employees pursuant to a\nnondiscriminatory plan for service rendered to the savings and loan\nassociation or for having become incapacitated while in service to the\nsavings and loan association, including annual supplements to retirees\nbased upon the "current cost of living index figure" for any calendar\nyear based upon the Consumer Price Index as issued by the bureau of\nlabor statistics of the United States department of labor.\n 2. Provide life insurance for its officers and employees, provided\nthat life insurance is not purchased solely for or on behalf of officers\nand highly compensated employees.\n