§ 2. Definitions. 1. Bank. The term, "bank," when used in this\nchapter, unless a different meaning appears from the context, means any\ncorporation, other than a trust company, organized under or subject to\nthe provisions of article three of this chapter.\n 2. Trust company. The term, "trust company," when used in this\nchapter, unless a different meaning appears from the context, means any\ncorporation or limited liability trust company organized under or\nsubject to the provisions of article three of this chapter, having, in\naddition to the other powers specified in such article, the fiduciary\npowers specified therein. The definitions set forth in section two-b of\nthis article shall be utilized when the provisions of this chapter are\napplied to the formation and operation of limited liability trust\ncompanies.\n 3. Private banker. The term, "private banker," when used in this\nchapter, means an individual or partnership duly authorized by the\nsuperintendent to engage in the business of a private banker pursuant to\nthe provisions of article four of this chapter.\n 4. Savings bank. The term, "savings bank," when used in this chapter,\nmeans any corporation organized under or subject to the provisions of\narticle six of this chapter. Such term shall include stock-form savings\nbanks which shall be subject to the provisions of article six of this\nchapter to the extent not otherwise provided by the superintendent of\nfinancial services pursuant to regulations promulgated under section\nfourteen-e of this chapter.\n 6. Safe deposit company. The term, "safe deposit company," when used\nin this chapter, means any corporation organized under or subject to the\nprovisions of article eight of this chapter.\n 7. Licensed lender. The term, "licensed lender," when used in this\nchapter, means any person or other entity duly authorized by the\nsuperintendent to engage in business pursuant to the provisions of\narticle nine of this chapter. The terms, "licensee," and "licensees,"\nwhen used in article nine of this chapter, mean a licensed lender or\nlicensed lenders.\n 8. Savings and loan association. The term, "savings and loan\nassociation," when used in this chapter, means any corporation organized\nunder or subject to the provisions of article ten of this chapter. Such\nterm shall include stock-form savings and loan associations which shall\nbe subject to the provisions of article ten of this chapter to the\nextent not otherwise provided by the superintendent of financial\nservices pursuant to regulations promulgated under section fourteen-e of\nthis chapter.\n 9. Credit union. The term, "credit union," when used in this chapter,\nmeans any corporation organized under article eleven of chapter six\nhundred eighty-nine of the laws of nineteen hundred nine, as amended by\nchapter five hundred eighty-two of the laws of nineteen hundred\nthirteen, or under article eleven of this chapter. Every such\ncorporation shall be a non-stock corporation.\n 10. Investment company. The term, "investment company," when used in\nthis chapter, means any corporation or limited liability investment\ncompany organized under or subject to the provisions of article twelve\nof this chapter. The definitions set forth in section two-a of this\narticle shall be utilized when the provisions of this chapter are\napplied to the formation and operation of limited liability investment\ncompanies.\n 10-a. Mutual trust investment company. The term "mutual trust\ninvestment company" when used in this chapter, means an investment\ncompany as defined by an act of congress entitled the "Investment\nCompany Act of 1940", approved August twenty-second, nineteen hundred\nforty, as amended, provided that (a) such company is organized under or\nsubject to the provisions of article twelve-A of this chapter; and (b)\nall of the stock and shares, other than stock or shares required by law\nto qualify directors of such investment company, are or are to be owned\nby
‹ Prev All New York sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.