§ 94 Change From Bank to Trust Company; From Trust Company to Bank
§ 96 General Powers
§ 96-A Servicing of Mortgages by Banks
§ 96-B Payroll Payment by Banks or Trust Companies
§ 96-C Power to Act as Trustee Under Self-Employed Retirement Trust or Individual Retirement Trust
§ 96-D Banking Development Districts
§ 97 Power to Purchase Securities and Stocks
§ 98 Power to Take and Hold Real Estate; Restrictions
§ 98-A Club Accounts
§ 100 Fiduciary Powers
§ 100-A Fiduciary Capacities; Appointment by Court Authorized; Bond; Oath; Accounting
§ 100-B Investments as Fiduciary; When Interest Is to Be Paid; Preference
§ 100-C Common Trust Funds
§ 100-D Foreign Common Trust Funds
§ 101 Additional Powers of Certain Trust Companies
§ 102 Powers of Specially Chartered Trust Companies
§ 102-A Limited Liability Trust Companies
§ 103 Restrictions On Loans, Purchases of Securities, Total Liabilities and Other Credit Exposures to a Bank or Trust Company of Any One Person
§ 104 Entries in Books; Restrictions; Amortization of Securities
§ 105 Branch Offices; Prohibition Against Doing Business At Unauthorized Places
§ 105-A Electronic Facilities
§ 105-B Trust Offices
§ 106 Deposits by Banks and Trust Companies With Other Banking Corporations and Private Bankers; Restrictions
§ 107 Reserves Against Deposits
§ 107-A Security for Public Deposits
§ 108 Rates of Interest; Installment Obligations; Personal Loan Departments
§ 108-A Acceptance of United States Currency
§ 109 Closing of Books; Profits; How to Be Computed
§ 110 Surplus Fund; of What Composed, and for What Purposes Used
§ 111 Profits; Credits to Surplus Fund and to Undivided Profits
§ 112 Dividends; Payable From Net Profits; Restrictions
§ 113 Change of Location; Change of Designation of Principal Office
§ 114 Assessment of Stockholders to Make Good Impairment of Capital Stock; Sale of Stock
§ 121 Reports to Directors
§ 122 Examinations of Banks and Trust Companies by Directors; Employment of Assistants
§ 123 Reports of Directors’ Examinations
§ 124 Communications From Department of Financial Services to Be Submitted to Directors and Noted in Minutes
§ 125 Reports to Superintendent; Penalty for Failure to Make
§ 128 Preservation of Books and Records
§ 129 Requirement of Notice On Withdrawal of Certain Time Deposits; Notice to Superintendent
§ 130 Restrictions On Officers, Directors and Employees
§ 131 Prohibitions Against Encroachments Upon Certain Powers of Banks and Trust Companies
§ 132 Use of Sign, or Words, Indicating Bank or Trust Company by Unauthorized Persons Prohibited
§ 133 Use of Banking Institution Name
§ 134 Repayment of Deposits Standing in the Names of Minors, Trustees or Joint Depositors; Repayment Where Adverse Claim Is Asserted; Interpleader in Certai
§ 136 Change of National Banking Association Into State Bank by Conversion or Merger
§ 136-A Purchase of Assets of National Banking Association by Bank or Trust Company
§ 136-B Approval of Superintendent
§ 136-C Effect of Merger or Conversion of National Banking Association Into State Bank
§ 137 Change of State Bank Into National Banking Association by Conversion, Merger or Consolidation
§ 138 Foreign Branches; Performance of Contracts and Repayment of Deposits
§ 139 Saving Clause
§ 140-A Stock Option Plans

Terms Used In New York Laws > Banking > Article 3

  • Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Amortization: Paying off a loan by regular installments.
  • 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.
  • Appraisal: A determination of property value.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • 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.
  • Bequest: Property gifted by will.
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Executor: A male person named in a will to carry out the decedent
  • Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Forbearance: A means of handling a delinquent loan. A
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Minority leader: See Floor Leaders
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • 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
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.