Terms Used In N.Y. Banking Law 202

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.

Branches and agencies of foreign banking corporations licensed to do business in this state may make loans and offer extensions of credit to the same extent and subject to the same conditions as banks and trust companies may make loans and extend credit pursuant to the provisions of subdivisions four-a and five of section liabilities to bank or trust company of any one person” class=”unlinked-ref” datatype=”S” sessionyear=”2023″ statecd=”NY” title=”Banking”>one hundred three of this chapter and section one hundred eight of this chapter. Without limiting the foregoing, a foreign banking corporation licensed pursuant to article two of this chapter to maintain one or more branches or agencies in this state, may, in pursuance of its otherwise lawful powers under this chapter, take, receive, reserve or charge on any loan or discount made, or upon any note, bill of exchange or other evidence of debt, negotiable or otherwise, interest at such rate and such other charges and fees as a bank or trust company shall be permitted to charge under the provisions of the laws of this state or the laws of the United States, with respect to the same class or classes of loans or transactions to which such rate or such charges and fees shall be applicable.