N.Y. Banking Law Section 246-A
Executive committee and other committees


1.

If the organization certificate or the by-laws so provide, the board of trustees by resolution adopted by a majority of the entire board, may designate from among its members an executive committee consisting of at least five trustees and other committees each consisting of two or more trustees, officers or other persons, not including alternate members, but not less than may otherwise be required by this chapter nor differing in composition from any requirement of this chapter, and each of which shall have such authority as may be provided in the resolution or in the organization certificate or by-laws or under this chapter, except that no such committee shall have authority as to the following matters:

(a)

The filling of vacancies in the board of trustees or in any such committee;

(b)

The fixing of compensation of the trustees for serving on the board or on any committee;

(c)

The amendment or repeal of the by-laws, or the adoption of new by-laws;

(d)

The amendment or repeal of any resolution of the board which by its terms shall not be so amendable or repealable;

(e)

The taking of action which is expressly required by any provision of this chapter to be taken at a meeting of the board or by a specified proportion of the trustees.

2.

Each such committee shall serve at the pleasure of the board. The designation or appointment of, or making of provision for, any such committee and the delegation thereto of authority shall not alone relieve any trustee of his duty to the savings bank under any provision of this chapter.

3.

Minutes shall be kept of each meeting of each such committee and records shall be kept of all action taken in exercise of the authority or in performance of the function of each such committee. Such minutes and records shall be submitted to the board of trustees and shall be filed with the records of the savings bank.

Source: Section 246-A — Executive committee and other committees, https://www.­nysenate.­gov/legislation/laws/BNK/246-A (updated Sep. 22, 2014; accessed Dec. 21, 2024).

229
Application
230
Incorporation
232
Organization certificate to be submitted to superintendent
233
When corporate existence begins
234
General powers
234‑A
Settlement, modification or readjustment of investment
234‑B
Trust powers
235
Investment of funds
235‑B
Effect of usury
235‑C
Regulation of certain charges
235‑D
Service corporations owned by savings banks
236
Deposits by savings banks with other banking corporations and private bankers
237
Deposits with savings banks
238
Regulations and restrictions as to repayment of deposits
239
Repayment of deposits of minors, trust deposits, joint deposits, and deposits adversely claimed
239‑A
Preservation of books and records
240
Restrictions as to place of business
240‑A
Electronic facilities
240‑B
Acceptance of United States currency
241
Change of location
242
Assets
243
Surplus fund
244
Earnings
245
Interest payments
246
Board of trustees
246‑A
Executive committee and other committees
247
Restrictions upon trustees and officers
248
Removal and forfeiture of office of trustee
249
Compensation of trustees and officers
250
Pensions
251
Meetings
252
Reports to trustees
253
Official communications from department of financial services to be submitted to trustees and noted in minutes
254
Examinations by trustees
255
Reports to superintendent
255‑A
Publication and delivery of annual report
256
Photographic reproduction of records
257
Duties of trustees and officers
258
Prohibition of unauthorized savings banks and use of the word “savings”
260
Charters of all savings banks conformed to this article
260‑A
Amendment of organization certificate and by-laws
260‑B
Conversion of a savings bank into a savings and loan association

Accessed:
Dec. 21, 2024

Last modified:
Sep. 22, 2014

§ 246-A’s source at nysenate​.gov

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