N.Y. Banking Law Section 611
Special deputies

  • assistants
  • counsel and other employees

The superintendent may, by certificate, under his hand and the official seal of the department, appoint one or more special deputy superintendents as agent or agents to assist him in liquidating the business and affairs of any banking organization in his possession. The superintendent shall file such certificate in his office and shall cause a certified copy thereof to be filed with the supreme court in the judicial district in which the principal office of such banking organization is located. He may delegate such special deputy superintendents to perform such duties connected with such liquidation as he may deem proper. The superintendent may employ such counsel and expert assistants, without being subject to the requirements of State Finance Law § 112 (Accounting systems)section one hundred twelve of the state finance law or to the prior approval of any other state agency, under such titles as he shall assign to them and may retain such of the officers or employees of such banking organization as he may deem necessary in the liquidation and distribution of its assets. He shall require such security as he may deem proper from his agents and assistants appointed pursuant to the provisions of this section.

Source: Section 611 — Special deputies; assistants; counsel and other employees, https://www.­nysenate.­gov/legislation/laws/BNK/611 (updated Sep. 22, 2014; accessed Oct. 26, 2024).

600
Merger
601
Merger agreement
601‑A
Purchase of assets
601‑B
Approval or disapproval of merger or purchase of assets
601‑C
Sale, lease, exchange or other disposition of property, rights, privileges and franchises
602
Effect of merger
603
Issuance of new certificates of stock or other consideration
604
Rights of dissenting stockholders
604‑A
Transfer of fiduciary relationships
605
Voluntary liquidation
605‑A
Transfer of deposit liabilities of bank or trust company
606
When superintendent may take possession of banking organization
607
Manner and time within which taking possession may be tested
609
Resumption of business by bank, trust company or industrial bank
610
Resumption of business in accordance with plan of reorganization
611
Special deputies
611‑A
Appointment of single judge
612
Certificates to be recorded and received in evidence
612‑A
Payment of wages
613
Payment by superintendent of expenses of liquidation
614
Obtaining possession of pleadings, et cetera, in actions against which attorneys’ liens are asserted
615
On taking possession, superintendent shall notify those holding assets
616
Inventory of assets
617
Disposition of property held as bailee, or depositary
618
Liquidation and conservation of assets
618‑A
Repudiation of contracts
619
Prosecution and defense of actions
620
Notice to creditors to make proof of claims
620‑A
Certain claims shall not be accepted
622
List of claims duly presented
623
Filing objections to claims presented or listed
624
Acceptance and rejection of claims and accounts
625
Effect of accepting claims and accounts
626
Judgments recovered shall not be liens
627
Dividends to creditors
628
Payment of dividends when deposits have been made available by Federal Deposit Insurance Corporation
629
Payment of dividends to minors, trustees or joint depositors
630
Claims of shareholders and members of credit unions and savings and loan associations
631
Actions against directors, trustees, managers or officers for violation of their official duties
633
Service of notice or process during time of war
634
Power to appoint regulator or insurer as receiver

Accessed:
Oct. 26, 2024

Last modified:
Sep. 22, 2014

§ 611’s source at nysenate​.gov

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