New York Banking Code § 665

Misconduct by directors of banking corporations
Open in Lexace · Ask the AI about this section
§ 665. Misconduct by directors of banking corporations. Every director\nof a banking corporation who:\n  1. In case of the fraudulent insolvency of such corporation, shall\nhave participated in such fraud; or\n  2. Wilfully does any act as such director which is expressly forbidden\nby statute, or wilfully omits to perform any duty imposed upon him as\nsuch director by statute,\n  Is guilty of a misdemeanor, if no other punishment is prescribed\ntherefor by law.\n  The insolvency of a banking corporation is deemed fraudulent unless\nits affairs appear upon investigation to have been administered fairly,\nlegally and with the same care and diligence that agents receiving a\ncompensation for their services are bound, by law, to observe.\n

‹ 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.