N.Y. Banking Law Section 202
Rates of interest

  • installment obligations
  • personal loan departments
  • effect of usury
Branches and agencies of foreign banking corporations licensed to do business in this state may make loans and offer extensions of credit to the same extent and subject to the same conditions as banks and trust companies may make loans and extend credit pursuant to the provisions of subdivisions four-a and five of § 103 (Restrictions on loans, purchases of securities and total liabilities to bank or trust company of any one person)section one hundred three of this chapter and § 108 (Rates of interest)section one hundred eight of this chapter. Without limiting the foregoing, a foreign banking corporation licensed pursuant to article 2 (Department of Financial Services)article two of this chapter to maintain one or more branches or agencies in this state, may, in pursuance of its otherwise lawful powers under this chapter, take, receive, reserve or charge on any loan or discount made, or upon any note, bill of exchange or other evidence of debt, negotiable or otherwise, interest at such rate and such other charges and fees as a bank or trust company shall be permitted to charge under the provisions of the laws of this state or the laws of the United States, with respect to the same class or classes of loans or transactions to which such rate or such charges and fees shall be applicable.

Source: Section 202 — Rates of interest; installment obligations; personal loan departments; effect of usury, https://www.­nysenate.­gov/legislation/laws/BNK/202 (updated Sep. 22, 2014; accessed Apr. 13, 2024).

200
When foreign banking corporation may transact business in this state 200–A
Actions maintained by a foreign banking corporation 200–B
Actions maintained against foreign banking corporation 200–C
Maintenance of books, accounts and records 201
Conditions to be complied with by foreign banking corporations applying for initial license 201–A
Rights and privileges of foreign banking corporation under license 201–B
Fiduciary powers of foreign banking corporations 201–C
Notice of acquisition of control or merger 202
Rates of interest 202–A
Restrictions on receiving deposits 202–B
Maintenance of assets in this state 202–C
Reserves against deposits 202–D
Foreign banking corporation may not maintain both agencies and branches in this state 202–F
Restrictions on loans, purchases of securities and total liabilities of any one person to New York branch or agency of foreign bank 202–G
Succession to agency by branch and to branch by agency 202–H
Repayment of deposits standing in the names of minors, trustees, joint depositors or custodians 202–I
Safe deposit business of branches 202–J
Power to act as trustee under self-employed retirement trust or individual retirement trust 203
Change of location, name or business 204
Reports of foreign banking corporations 204–A
Payment of claims by foreign banking corporations where adverse claim is asserted 206
Termination of existence 207
Service of process on unlicensed corporation formed under laws other than the statutes of this state 208
Nondiscriminatory treatment of insured state banks and national banks 209
Restrictions on executive officers of foreign banking corporations and national banks
Green check means up to date. Up to date

Accessed:
Apr. 13, 2024

Last modified:
Sep. 22, 2014

§ 202’s source at nysenate​.gov

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