N.Y. Banking Law Section 440
Commissions and payment of expenses

The savings and loan bank may charge each member an annual commission, not to exceed one-half of one per centum, upon the outstanding bonds and notes issued in its behalf, provided, however, that the rate of commission in any year shall be the same on all outstanding obligations in respect to which a commission is charged; or in lieu of charging such commissions the expenses incurred on account of any such obligations may be charged to the member on whose behalf such obligations are issued.

Source: Section 440 — Commissions and payment of expenses, https://www.­nysenate.­gov/legislation/laws/BNK/440 (updated Sep. 22, 2014; accessed Dec. 6, 2025).

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Last modified:
Sep. 22, 2014

§ 440. Commissions & payment of expenses's source at nysenate​.gov

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