New York § 7014 Removal of officers

New York Statutes

§ 7014 — Removal of officers

New York § 7014

Law BNKBanking

Title 7Directors and Officers

Art. 15General Provisions Applicable to Banking Stock Corporations, Limited Liability Investment Companies, and Limited Liability Trust Companies

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Bluebook

N.Y. Banking § 7014 (2026).

Text

§ 7014. Removal of officers.

1.Any officer elected or appointed by\nthe board may be removed by the board, or his authority suspended by it,\nwith or without cause. Such removal or suspension without cause,\nhowever, shall be without prejudice to his contract rights. The election\nor appointment of an officer shall not be deemed of itself to create\ncontract rights.\n 2. This section does not affect the powers of the superintendent under\nsection forty-one of this chapter.\n

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§ 7014. Removal of officers. 1. Any officer elected or appointed by\nthe board may be removed by the board, or his authority suspended by it,\nwith or without cause. Such removal or suspension without cause,\nhowever, shall be without prejudice to his contract rights. The election\nor appointment of an officer shall not be deemed of itself to create\ncontract rights.\n 2. This section does not affect the powers of the superintendent under\nsection forty-one of this chapter.\n