N.Y. Banking Law Section 14-E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form

1.

Notwithstanding any other provision of law to the contrary, the superintendent is authorized to promulgate such rules and regulations as shall facilitate:

(a)

The organization and operation of stock-form savings banks and stock-form savings and loan associations, (b) The conversion of mutual savings banks and savings and loan associations to stock form, and

(c)

Mergers and acquisitions of assets or of capital stock between and among all of the foregoing banking institutions and between and among such institutions and any other banking institution. The superintendent is authorized to define and implement, by regulation, the terms and provisions of this section. In adopting such regulations, the superintendent shall take into account the declaration of policy contained in section one of a chapter of the laws of nineteen hundred eighty-four entitled “An Act to amend the banking law, in relation to the organization and incorporation of stock-form savings banks and stock-form savings and loan associations and the conversion of mutual savings banks and mutual savings and loan associations to stock form”. In connection with such regulations, the superintendent is empowered to apply to such stock-form organizations any provision of this chapter, in whole or in part, as shall be applicable to any other stock-form banking organization and to vary any condition, requirement or provision of this article or article fifteen or sixteen of this chapter.

2.

Such applications as the superintendent may prescribe under paragraph (a), (b) or (c) of subdivision one of this section shall each be accompanied by an investigation fee as prescribed pursuant to section eighteen-a of this article.

3.

Without limiting the foregoing, the superintendent, if the superintendent shall determine that unusual and extraordinary circumstances exist, shall be authorized, by resolution or regulation, to apply or to deem inapplicable to any banking institution referred to in subdivision one of this section, such provisions of this chapter in whole or in part, as it shall find appropriate in connection with the organization, operation, conversion, merger or any other transaction involving a stock-form savings bank or stock-form savings and loan association, provided, however, that such actions are in harmony with the spirit of the law and are necessary because of the existence of such circumstances.

Source: Section 14-E — Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form, https://www.­nysenate.­gov/legislation/laws/BNK/14-E (updated Sep. 22, 2014; accessed Apr. 20, 2024).

10
Declaration of policy 11
Department of financial services 12‑A
Power of state chartered banking institutions to exercise the rights of counterpart federally chartered banking institutions 14
Additional powers of the superintendent 14‑A
Rate of interest 14‑B
Power of the superintendent of financial services to prescribe minimum rate of interest on mortgage escrow accounts 14‑C
Power of the superintendent of financial services to prescribe criteria for disclosure of information on savings and time accounts 14‑D
Power of the superintendent of financial services to prescribe a reasonable period of time permitting the drawing on items received for d... 14‑E
Power of the superintendent to authorize the operation of savings banks and savings and loan associations in stock form 14‑F
Power of the superintendent of financial services to require the provision of basic banking services 18
Fees for copies and certifications 18‑A
Application fees 18‑B
Holocaust reparations payment fees 19
Assessments for deficiency in reserves against deposits 20
Assessments, penalties and forfeitures entitled to priority 21
Collection of assessments, penalties and forfeitures 22
Fingerprints 23
Acceptance or rejection of certificate 24
Investigation by superintendent 25
Authorization certificate 25‑A
Authority of superintendent to file organization certificate and issue authorization certificate under certain conditions 26
Licenses to foreign banking corporations 27
Exchange and examination of securities 28
Change of location 28‑A
Temporary change of location 28‑B
Credit needs of local communities 28‑BB
Credit needs of local communities 28‑C
Branch office closings 29
Branch offices 30
Unclaimed amounts 31
Index of persons entitled to unclaimed amounts 32
Insurance of deposits and share accounts 33
Reserve depositaries 34
Superintendent as attorney to accept service of process 36
Examinations 36‑A
Reports of lending by banking organizations 36‑B
Preservation of books and records 37
Reports to superintendent 37‑A
Submission of annual reports by the Holocaust claims processing office 38
Power of subpoena 39
Orders of superintendent 40
Revocation of authorization certificate or license or suspension of activities in certain cases 41
Removal of director, trustee or officer 42
Official acts of superintendent and details of department business to be made public 44
Violations 44‑A
Violations and penalties 45
Export finance awareness program
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Accessed:
Apr. 20, 2024

Last modified:
Sep. 22, 2014

§ 14-E’s source at nysenate​.gov

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