New York § 677 Decedents' accounts, withdrawals by authorized persons

New York Statutes

§ 677 — Decedents' accounts, withdrawals by authorized persons

New York § 677

Law BNKBanking

Art. 13-EJoint Deposits and Shares;

This text of New York § 677 (Decedents' accounts, withdrawals by authorized persons) 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 § 677 (2026).

Text

§ 677. Decedents' accounts, withdrawals by authorized persons.

1.The\nmaximum withdrawal permissible by law for purposes of this section shall\nbe the amount permitted to be paid, without the consent of the\ncommissioner of taxation and finance, under rules or regulations\npromulgated by such commissioner pursuant to section one hundred\nseventy-one of the tax law.\n 3. Notwithstanding the foregoing, no banking organization or foreign\nbanking corporation shall be required to make any payment pursuant to\nthis section if (a) it has notice of an adverse claim with respect to\nany such savings or time deposits or shares standing on its books to the\ncredit of the decedent, or (b) there is in effect an order, injunction\nor other appropriate process of a court of competent jurisdiction\nr

Free access — add to your briefcase to read the full text and ask questions with AI

§ 677. Decedents' accounts, withdrawals by authorized persons. 1. The\nmaximum withdrawal permissible by law for purposes of this section shall\nbe the amount permitted to be paid, without the consent of the\ncommissioner of taxation and finance, under rules or regulations\npromulgated by such commissioner pursuant to section one hundred\nseventy-one of the tax law.\n 3. Notwithstanding the foregoing, no banking organization or foreign\nbanking corporation shall be required to make any payment pursuant to\nthis section if (a) it has notice of an adverse claim with respect to\nany such savings or time deposits or shares standing on its books to the\ncredit of the decedent, or (b) there is in effect an order, injunction\nor other appropriate process of a court of competent jurisdiction\nrestraining such payment, or (c) it has notice that such payment would\nviolate the terms of a legal and valid trust, or (d) such payment is\ninconsistent with any federal laws or regulations.\n 4. Such payments as any banking organization or foreign banking\ncorporation is required to make pursuant to this section shall be a\nvalid and sufficient release and discharge to such banking organization\nor foreign banking corporation for any payment so made.\n