§ 450 Incorporation; Organization Certificate
§ 450-A Designation of Low Income Credit Union
§ 450-B Designation of Student Branches
§ 451 Proposed Bylaws
§ 451-A Qualifications for Membership
§ 452 When Corporate Existence Begins; Conditions Precedent to Commencing Business
§ 453 Corporate Credit Unions
§ 454 General Powers
§ 455 Trust Powers
§ 456 Limitations Upon Powers
§ 457 Capital
§ 458-A Maintenance of Reserves
§ 459 Allowance for Loan Loss
§ 460 Dividends to Shareholders; Conditions Precedent
§ 461 Change of Location; Estblishment of Stations; Extension or Revival of Corporate Existence
§ 462 Foreign Credit Unions
§ 463 Exemptions and Individual Liability of Shareholders
§ 464 Manner of Withdrawal; Expulsion or Suspension of Members; Effect Upon Liabilities to Credit Unions
§ 465 Withdrawal of Shares After Voting to Liquidate; Notices to Shareholders
§ 466 Meetings of Shareholders; Voting
§ 467 Qualifications and Disqualifications of Directors and Committee Members
§ 468 Oaths of Directors; Officers and Members of Committees
§ 469 Vacancies; Change in Number of Directors
§ 470 Powers and Duties of Directors; Not Entitled to Compensation; Disqualification of Directors
§ 471 Duty of Directors and Officers
§ 472 Special Duties of Directors
§ 473 Loan Officers, Credit Committee; Duties
§ 474 Loan Reports to Directors
§ 475 Supervisory Committee; Powers and Duties
§ 476 Officers; Powers and Duties
§ 477 Retirement and Insurance Benefits for Officers and Employees
§ 478 Amendment of Bylaws; Approval of Superintendent
§ 479 Credit Union Not Liable for Taxation
§ 480 Fiscal Year
§ 481 Communications From Department of Financial Services Must Be Submitted to Directors and Supervisory Committee, and Noted in the Minutes
§ 482 Reports to Superintendent; Penalty for Failure to Make
§ 483 Penalty for Loans to Non-Members; Recovery
§ 484 Penality for Use of Term “credit Union”
§ 485 Entries in Books; Preservation of Records
§ 486 Conversion of a Federal Credit Union Into a State Credit Union
§ 486-A Retention of Special Additional Mortgage Recording Tax Exemption for Converted Federal Credit Unions
§ 487 Conversion of a Credit Union Into a Federal Credit Union
§ 487-A Conversion of a Credit Union Into a Mutual Savings Bank

Terms Used In New York Laws > Banking > Article 11

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Best management practices: means methods, measures or practices determined to be the most practical and effective in preventing or reducing the impact of pollutants generated by nonpoint sources to a level compatible with water quality standards established pursuant to section 17-0301 of this article. See N.Y. Environmental Conservation Law 17-1403
  • Descendent: One who is directly descended from another such as a child, grandchild, or great grandchild.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • District: means a county soil and water conservation district created pursuant to section five of the soil and water conservation districts law. See N.Y. Environmental Conservation Law 17-1403
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Intestate: Dying without leaving a will.
  • Municipal corporation: means a county, city, town or village or an entity designated to act on behalf of such. See N.Y. Environmental Conservation Law 17-1403
  • National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
  • National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
  • Nonpoint source: means any source of water pollution or pollutants which is not a discrete conveyance or point source permitted pursuant to title seven or eight of this article. See N.Y. Environmental Conservation Law 17-1403
  • Personal property: All property that is not real property.
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Quorum: The number of legislators that must be present to do business.