N.Y. Banking Law Section 102
Powers of specially chartered trust companies


Every trust company incorporated by a special law shall possess the powers of trust companies incorporated under this chapter and shall be subject to such provisions of this chapter as are not inconsistent with the special laws relating to such specially chartered company.

Source: Section 102 — Powers of specially chartered trust companies, https://www.­nysenate.­gov/legislation/laws/BNK/102 (updated Sep. 22, 2014; accessed Jun. 8, 2024).

94
Change from bank to trust company
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
98‑A
Club accounts
100
Fiduciary powers
100‑A
Fiduciary capacities
100‑B
Investments as fiduciary
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 and total liabilities to bank or trust company of any one person
104
Entries in books
105
Branch offices
105‑A
Electronic facilities
105‑B
Trust offices
106
Deposits by banks and trust companies with other banking corporations and private bankers
107
Reserves against deposits
107‑A
Security for public deposits
108
Rates of interest
108‑A
Acceptance of United States currency
109
Closing of books
110
Surplus fund
111
Profits
112
Dividends
113
Change of location
114
Assessment of stockholders to make good impairment of capital stock
121
Reports to directors
122
Examinations of banks and trust companies by directors
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
128
Preservation of books and records
129
Requirement of notice on withdrawal of certain time deposits
129‑A
Requirement of written notification
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
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
139
Saving clause
140‑A
Stock option plans

Accessed:
Jun. 8, 2024

Last modified:
Sep. 22, 2014

§ 102’s source at nysenate​.gov

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