New York Statutes
§ 651 — Investments
New York § 651
This text of New York § 651 (Investments) 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 § 651 (2026).
Text
§ 651. Investments. Every licensee shall at all times maintain\npermissible investments having (i) a market value, computed in\naccordance with generally accepted accounting principles, at least equal\nto the aggregate of the amount of all its outstanding payment\ninstruments and all its outstanding traveler's checks or (ii) a net\ncarrying value, computed in accordance with generally accepted\naccounting principles, at least equal to the aggregate of the amount of\nall its outstanding payment instruments and all its outstanding\ntraveler's checks so long as the market value of such permissible\ninvestments is at least eighty per centum of the net carrying value.\nNotwithstanding the foregoing provisions of this section, the\nsuperintendent shall have the authority, for good cause shown,
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Related
United States v. Cambio Exacto, S.A.
166 F.3d 522 (Second Circuit, 1999)
International Gateway Exchange, LLC v. Western Union Financial Services, Inc.
333 F. Supp. 2d 131 (S.D. New York, 2004)
United States v. All Funds on Deposit & to be Deposited, Through & Including June 25, 1996, in Account No. 590018256 at Chemical Bank in the Name of Perusa Inc.
935 F. Supp. 208 (E.D. New York, 1996)
United States v. Velastegui
56 F. Supp. 2d 313 (S.D. New York, 1999)
Nearby Sections
14
§ 651
Investments§ 651-A
Remittances§ 652
Severability§ 652-A
Changes in control§ 652-B
Tying arrangements§ 653
Definitions§ 654
Purpose of the fund§ 657
Payments to the fundCite This Page — Counsel Stack
Bluebook (online)
New York § 651, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/BNK/651.