New York § 9-N Trust accounts; address of beneficiary

New York Statutes

§ 9-N — Trust accounts; address of beneficiary

New York·Law BNK Banking·Art. 1 Short Title; Definitions; Miscellaneous Provisions

§ 9-n. Trust accounts; address of beneficiary.

1.Every banking\ninstitution, which for the purposes of this section means a bank, trust\ncompany, savings bank, savings and loan association, licensed foreign\nbank or credit union, which shall hold accounts by depositors in such\ndepositor's own name and, further, in trust for a third party\nbeneficiary or beneficiaries, shall make a written record of the address\nof any such beneficiary or beneficiaries at the time a trust account is\nestablished.\n 2. The superintendent shall enforce the provisions of this section by\nappropriate rules, regulations and orders.\n

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§ 9-n. Trust accounts; address of beneficiary. 1. Every banking\ninstitution, which for the purposes of this section means a bank, trust\ncompany, savings bank, savings and loan association, licensed foreign\nbank or credit union, which shall hold accounts by depositors in such\ndepositor's own name and, further, in trust for a third party\nbeneficiary or beneficiaries, shall make a written record of the address\nof any such beneficiary or beneficiaries at the time a trust account is\nestablished.\n 2. The superintendent shall enforce the provisions of this section by\nappropriate rules, regulations and orders.\n

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