New York § 490-B Management of fund

New York Statutes

§ 490-B — Management of fund

New York § 490-B

Law BNKBanking

Art. 11-ACredit Union Insurance Fund

This text of New York § 490-B (Management of fund) 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 § 490-B (2026).

Text

  § 490-b. Management of fund. The fund shall be collected, held,\nadministered and disbursed by a corporate trustee or a board of trustees\ncomposed of individuals who are directors or members of a supervisory\ncommittee of credit unions. The appointment of a corporate trustee or a\nboard of trustees, as the case may be, shall be subject to the approval\nof the superintendent. In the event there be a board of individual\ntrustees, a majority of them at any time in office, shall constitute a\nquorum and the vote of a majority present at any meeting, provided a\nquorum is present, shall be determinative.\n

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§ 490-b. Management of fund. The fund shall be collected, held,\nadministered and disbursed by a corporate trustee or a board of trustees\ncomposed of individuals who are directors or members of a supervisory\ncommittee of credit unions. The appointment of a corporate trustee or a\nboard of trustees, as the case may be, shall be subject to the approval\nof the superintendent. In the event there be a board of individual\ntrustees, a majority of them at any time in office, shall constitute a\nquorum and the vote of a majority present at any meeting, provided a\nquorum is present, shall be determinative.\n