New York Statutes
§ 680-E — Permissible purpose
New York § 680-E
This text of New York § 680-E (Permissible purpose) 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 § 680-E (2026).
Text
§ 680-e. Permissible purpose.
1.A special deposit must serve at least\none permissible purpose stated in the account agreement from the time\nthe special deposit is created in the account agreement until\ntermination of the special deposit.\n 2. If, before termination of the special deposit, the bank or a court\ndetermines the special deposit no longer satisfies subdivision one of\nthis section, sections six hundred eighty-g, six hundred eighty-h, six\nhundred eighty-i and six hundred eighty-j of this article cease to apply\nto any funds deposited in the special deposit after the special deposit\nceases to satisfy subdivision one of this section.\n 3. If, before termination of a special deposit, the bank determines\nthe special deposit no longer satisfies subdivision one of this secti
Free access — add to your briefcase to read the full text and ask questions with AI
Nearby Sections
15
§ 680
Short title§ 680-A
Definitions§ 680-B
Scope; choice of law; forum§ 680-E
Permissible purpose§ 680-I
Injunction or similar relief§ 680-J
Recoupment or set off§ 680-K
Duties and liability of bank§ 680-L
Term and termination§ 680-M
Principles of law and equityCite This Page — Counsel Stack
Bluebook (online)
New York § 680-E, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/BNK/680-E.