N.Y. Banking Law Section 18-B
Holocaust reparations payment fees


1.

For the purposes of this section, “victims or targets of Nazi persecution” means any individual, corporation, partnership, sole proprietorship, unincorporated association, community, congregation, group, organization, or other entity persecuted or targeted for persecution by the Nazi Regime because of race, religion, ethnicity, sexual orientation, national origin, or physical or mental disability or handicap, or the heirs, successors, administrators, executors, affiliates, or assignees of such victims or targets, or any other claimant receiving funds from an eligible settlement fund, or from an eligible grantor trust established for the benefit of such victims or targets. An eligible settlement fund is an entity that is treated for federal income tax purposes as a designated or qualified settlement fund, as such term is defined in section 468B of the Internal Revenue Code and the regulations thereunder, which is established for the principal purpose of resolving and satisfying claims arising from or in connection with any act or omission in any way relating to the Holocaust, World War II and its prelude and aftermath, victims or targets of Nazi persecution, transactions with or actions of the Nazi Regime, or treatment of refugees fleeing Nazi persecution by or in the Swiss Confederation. An eligible grantor trust is a grantor trust which is established for the principal purpose of resolving and satisfying such claims.

2.

The superintendent shall maintain and annually update a list of banks and other financial institutions doing business in the state that voluntarily waive wire transfer fees and other processing fees imposed for automated deposits or transfers of amounts received (including accumulated interest) by victims or targets of Nazi persecution from an eligible settlement fund, or from an eligible grantor trust established for the benefit of such victims or targets. The department shall make the list available to the public on the department’s website.

Source: Section 18-B — Holocaust reparations payment fees, https://www.­nysenate.­gov/legislation/laws/BNK/18-B (updated Aug. 19, 2022; accessed Jun. 22, 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

Accessed:
Jun. 22, 2024

Last modified:
Aug. 19, 2022

§ 18-B’s source at nysenate​.gov

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