New York § 654 Purpose of the fund

New York Statutes

§ 654 — Purpose of the fund

New York § 654

Law BNKBanking

Art. 13-CState Transmitter of Money Insurance Fund

This text of New York § 654 (Purpose of the 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 § 654 (2026).

Text

  § 654. Purpose of the fund. There is hereby created a fund to be known\nas the "state transmitter of money insurance fund". The purpose of the\nfund shall be to insure the New York instruments of uninsured\ntransmitters of money which, by reason of insolvency, bankruptcy or\nother inability to pay, have defaulted in making payment on their New\nYork instruments, whether such default has occurred prior to or after\nthe effective date of this act.\n

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§ 654. Purpose of the fund. There is hereby created a fund to be known\nas the "state transmitter of money insurance fund". The purpose of the\nfund shall be to insure the New York instruments of uninsured\ntransmitters of money which, by reason of insolvency, bankruptcy or\nother inability to pay, have defaulted in making payment on their New\nYork instruments, whether such default has occurred prior to or after\nthe effective date of this act.\n