The savings and loan bank operating pursuant to Article 10-B of the banking law may be designated by the fund as its fiscal agent; such bank shall have the power to accept such designation and to do all acts necessary in order to carry out the duties thereby imposed in accordance with any agreement entered into pursuant thereto.

Terms Used In N.Y. Banking Law 420-L

  • Fund: means the state savings and loan insurance fund created by section four hundred twenty-a of this article. See N.Y. Banking Law 420