New York § 454 Servicing of municipal loans by banking institutions

New York Statutes

§ 454 — Servicing of municipal loans by banking institutions

New York § 454

Law PVHPrivate Housing Finance

Art. 8-ASmall Loans to Owners of Multiple Dwellings to Remove Substandard or Insanitary Conditions

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Bluebook

N.Y. Private Housing Finance § 454 (2026).

Text

  § 454. Servicing of municipal loans by banking institutions. The\nmunicipality is authorized to make provision, either in the loan\nagreement or by separate agreement, for the performance by one or more\nbanking institutions of such services as are generally performed by any\nsuch bank itself owning and holding such a loan and as may be approved\nby the superintendent of financial services, for which services a bank\nmay make and collect such service charges as the superintendent shall\nprescribe or approve.\n

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§ 454. Servicing of municipal loans by banking institutions. The\nmunicipality is authorized to make provision, either in the loan\nagreement or by separate agreement, for the performance by one or more\nbanking institutions of such services as are generally performed by any\nsuch bank itself owning and holding such a loan and as may be approved\nby the superintendent of financial services, for which services a bank\nmay make and collect such service charges as the superintendent shall\nprescribe or approve.\n