N.Y. Banking Law Section 2-A
Limited liability investment company

  • definitions

When the provisions of this chapter are applied to the formation and operation of a limited liability investment company references to:

1.

“Board of directors” shall include the managers charged with the management of a limited liability investment company as set forth in its articles of organization.

2.

“By-laws” shall include the operating agreement of a limited liability investment company.

3.

“Capital stock” shall include the cash and property the members of a limited liability investment company have contributed to the company, but shall not include promissory notes, or other obligations to contribute cash or property or to perform future services.

4.

“Corporation” shall include an unincorporated investment company formed as a limited liability investment company pursuant to the provisions of article 12 (No title)article twelve of this chapter.

5.

“Director” shall include one of the managers charged with the management of a limited liability investment company as set forth in its articles of organization.

6.

“Dividend” shall include the distribution of a limited liability investment company’s cash or other assets to its members.

7.

“Incorporator” shall include the person or persons who is or are the organizer or organizers of a limited liability investment company.

8.

“Organization certificate” shall include the articles of organization of a limited liability investment company.

9.

“Share” shall include the equity interest of a member of a limited liability investment company as set forth in the company’s articles of organization or, in the absence of such a provision, the equity interest represented by a member’s right to a proportionate share of the profits of the company.

10.

“Stock” shall include the equity interest represented by the percentage of the total votes a member may cast as set forth in the articles of organization of a limited liability investment company or, in the absence of such a provision, the equity interest represented by a member’s right to a proportionate share of the profits of the company.

11.

“Stockholder” shall include a member of a limited liability investment company who has an equity interest represented by his or her right to a proportionate share of the profits or capital of the company.

12.

“Voting stock” shall include the definition of stock as set forth in this section.

Source: Section 2-A — Limited liability investment company; definitions, https://www.­nysenate.­gov/legislation/laws/BNK/2-A (updated Sep. 22, 2014; accessed Oct. 26, 2024).

1
Short title
2
Definitions
2‑A
Limited liability investment company
2‑B
Limited liability trust companies
4
Information to be given to social services officials, state department of social services, state department of mental hygiene, the mental...
4‑A
Banks to display signs
4‑B
Advertising
4‑C
Exemptions from certain provisions of chapter
5
Loans pursuant to the "Servicemen’s Readjustment Act of 1944
6
Investment in obligations of housing corporations indirectly guaranteed pursuant to the “Servicemen’s Readjustment Act of 1944”
6‑A
Investment in obligations of certain persons sixty-five years of age or over incurred to satisfy real property tax indebtedness
6‑C
Application forms to be made available
6‑D
Requirement to state in writing reason for denial of mortgage loan
6‑E
Graduated payment mortgages authorized
6‑F
Alternative mortgage instruments made by banks, trust companies, savings banks, savings and loan associations and credit unions
6‑G
Override of certain provisions of United States Public Law 97-320
6‑H
Reverse mortgage loans authorized
6‑I
Mortgage loans
6‑J
Proof of insurance
6‑K
Real property insurance escrow accounts
6‑L
High-cost home loans
6‑M
Subprime home loans
6‑N
Responsibility of banks for mortgages being processed for modification
6‑O
Single point of contact for modifying delinquent home loans
6‑O*2
Reverse cooperative apartment unit loans for persons sixty-two years of age or older
6‑P
Loan counseling for mortgages guaranteed by the Servicemen’s Readjustment Act of 1944
7
Payment of dividends or interest upon unclaimed deposits or shares
8
Deposits by custodian designated by administrator of veterans’ affairs, or by person certified by social security administration
9
Checks drawn against corporate funds or payable to corporations
9‑A
Defense of ultra vires
9‑B
Actions or special proceedings by superintendent or attorney-general
9‑C
Superintendent’s or attorney-general’s action for judicial dissolution
9‑D
Enforcement of section two hundred ninety-six-a of the executive law
9‑F
Geographic discrimination in making mortgage loans prohibited
9‑G
Right of set off
9‑H
Imposition of service charges prohibited
9‑I
Close-out fees prohibited in certain cases
9‑I*2
Prohibition on depositor of early withdrawal penalty in certain cases
9‑J
Disposal of records
9‑K
Sale of education loans
9‑M
Return of checks
9‑N
Trust accounts
9‑O
Mortgage loans
9‑P
Acceptance of certain checks for deposit
9‑R
Geographic restrictions
9‑S
Preauthorized electronic fund transfers
9‑T
Unsolicited mail-loan checks
9‑U
ATM transactions by persons using foreign bank accounts
9‑V
Savings promotion prize giveaway
9‑W
Standard financial aid award letter
9‑X
Mortgage forbearance
9‑X*2
Fees based on inactivity
9‑Y
Order of payment of checks and other debits, insufficient funds charges and return deposit item charges
9‑Z
Cashing of certain checks

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 2-A’s source at nysenate​.gov

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