State Codes and Statutes

Statutes > New-york > Bnk > Article-1 > 2

§ 2.  Definitions.  1.  Bank.  The  term,  "bank,"  when  used in this  chapter, unless a different meaning appears from the context, means  any  corporation,  other  than a trust company, organized under or subject to  the provisions of article three of this chapter.    2. Trust company.  The  term,  "trust  company,"  when  used  in  this  chapter,  unless a different meaning appears from the context, means any  corporation or  limited  liability  trust  company  organized  under  or  subject  to  the provisions of article three of this chapter, having, in  addition to the other powers specified in such  article,  the  fiduciary  powers  specified therein. The definitions set forth in section two-b of  this article shall be utilized when the provisions of this  chapter  are  applied  to  the  formation  and  operation  of  limited liability trust  companies.    3. Private banker. The term,  "private  banker,"  when  used  in  this  chapter,  means  an  individual  or  partnership  duly authorized by the  superintendent to engage in the business of a private banker pursuant to  the provisions of article four of this chapter.    4. Savings bank. The term, "savings bank," when used in this  chapter,  means  any  corporation  organized under or subject to the provisions of  article six of this chapter. Such term shall include stock-form  savings  banks  which  shall  be subject to the provisions of article six of this  chapter to the extent  not  otherwise  provided  by  the  banking  board  pursuant  to  regulations  promulgated  under section fourteen-e of this  chapter.    6. Safe deposit company. The term, "safe deposit company,"  when  used  in this chapter, means any corporation organized under or subject to the  provisions of article eight of this chapter.    7.  Licensed  lender.  The  term, "licensed lender," when used in this  chapter, means any  person  or  other  entity  duly  authorized  by  the  superintendent  to  engage  in  business  pursuant  to the provisions of  article nine of this chapter. The terms,  "licensee,"  and  "licensees,"  when  used  in  article  nine of this chapter, mean a licensed lender or  licensed lenders.    8.  Savings  and  loan  association.  The  term,  "savings  and   loan  association," when used in this chapter, means any corporation organized  under  or subject to the provisions of article ten of this chapter. Such  term shall include stock-form savings and loan associations which  shall  be  subject  to  the  provisions  of  article ten of this chapter to the  extent  not  otherwise  provided  by  the  banking  board  pursuant   to  regulations promulgated under section fourteen-e of this chapter.    9.  Credit union. The term, "credit union," when used in this chapter,  means any corporation organized under  article  eleven  of  chapter  six  hundred  eighty-nine of the laws of nineteen hundred nine, as amended by  chapter  five  hundred  eighty-two  of  the  laws  of  nineteen  hundred  thirteen,   or   under  article  eleven  of  this  chapter.  Every  such  corporation shall be a non-stock corporation.    10. Investment company. The term, "investment company," when  used  in  this  chapter,  means  any  corporation  or limited liability investment  company organized under or subject to the provisions of  article  twelve  of  this  chapter.  The  definitions  set forth in section two-a of this  article shall be utilized  when  the  provisions  of  this  chapter  are  applied  to  the formation and operation of limited liability investment  companies.    10-a.  Mutual  trust  investment  company.  The  term  "mutual   trust  investment  company"  when  used  in  this  chapter, means an investment  company as defined by  an  act  of  congress  entitled  the  "Investment  Company  Act  of  1940", approved August twenty-second, nineteen hundred  forty, as amended, provided that (a) such company is organized under  orsubject  to  the provisions of article twelve-A of this chapter; and (b)  all of the stock and shares, other than stock or shares required by  law  to  qualify directors of such investment company, are or are to be owned  by  trust  companies  or  national  banks having trust powers and having  their principal offices within the state of New York or  their  nominees  or   the   nominees   of   such  corporate  fiduciaries  and  individual  co-fiduciaries.    11. Banking organizations. The  term,  "banking  organizations,"  when  used  in  this  chapter,  means and includes all banks, trust companies,  private bankers, savings banks, safe deposit companies, savings and loan  associations, credit unions and investment companies.    12. Time deposits. The  term,  "time  deposits,"  when  used  in  this  chapter,  and  except as provided otherwise by regulation of the banking  board, means all  deposits  the  payment  of  which  cannot  legally  be  required within fourteen days.    13.  Demand  deposits.  The term, "demand deposits," when used in this  chapter, and except as provided otherwise by regulation of  the  banking  board,  means  deposits  payment of which can legally be required within  fourteen days.    14. Net demand deposits. The term, "net demand deposits," when used in  this chapter, means the total of all deposits, and of all amounts due to  banking corporations and private bankers  and  of  all  amounts  due  on  certified  and officers' checks, letters of credit and travelers' checks  sold for cash, and for unpaid dividends, less the following items:    (a) Time deposits;    (b) Amounts due on demand from banking  corporations  organized  under  the  laws  of  the  United  States or any state of the United States and  private  bankers  other  than  a  federal  reserve  bank   and   reserve  depositaries.    15.  Reserves on hand. The term, "reserves on hand," when used in this  chapter, means the reserves against deposits kept in the  vault  of  any  banking organization.    16. Reserves on deposit. The term, "reserves on deposit," when used in  this  chapter,  means  the  reserves  against deposits maintained with a  federal reserve bank located in this state and with reserve depositaries  by any banking organization, pursuant to the provisions of this chapter.    17. Total reserves. The term, "total  reserves,"  when  used  in  this  chapter, means the aggregate of reserves on hand and reserves on deposit  maintained pursuant to the provisions of this chapter.    18.  Reserve  depositary. The term, "reserve depositary," when used in  this chapter, means a banking corporation or private  banker  designated  by the superintendent as a depositary for reserves on deposit.    19.  Stockholder.  The term, "stockholder," when used in this chapter,  unless otherwise qualified, means a person who appears by the books of a  stock corporation to be the owner and holder of one or  more  shares  of  the stock of such corporation.    20.  Shareholder.  The term, "shareholder," when used in this chapter,  means a member of a mutual savings and loan association or a member of a  credit union.    21. Population. The term, "population," when  used  in  this  chapter,  means  population  as  determined  by the latest federal census; or when  used  in  connection  with  the  words  "unincorporated   village,"   as  determined  by  the  superintendent  from  the best available sources of  information.    22. Capital stock. The  term,  "capital  stock,"  when  used  in  this  chapter  in  connection  with  any  stock  corporation  subject  to this  chapter, means the aggregate par value  of  all  outstanding  shares  of  every class.24.  Deed  of  trust.  The term "mortgage", when used in this chapter,  shall, unless the context otherwise requires, include a  deed  of  trust  securing  a  loan;  provided,  however,  that  in applying the recording  provisions of this chapter in the case of any obligation  secured  by  a  deed of trust, such provisions shall be deemed to require only that such  deed  of  trust  be  recorded  in  the  name  of the trustee or trustees  thereunder.    25. Bond and mortgage. The term "bond and mortgage", when used in this  chapter, in referring to investments in or loans secured by mortgages on  real estate, shall, unless the context  otherwise  requires,  include  a  note secured by such mortgage.    26.  Minor or infant. The term, "minor" or "infant", when used in this  chapter, shall mean a person who has not attained the  age  of  eighteen  years;  provided,  however, that such definition shall not be applicable  to any provision relating to the New York Uniform  Transfers  to  Minors  Act.    27.  Trust office. The term "trust office", when used in this chapter,  means an office of a trust company at which the activities conducted are  limited to one or more of the fiduciary activities permitted for a trust  company under this chapter and such non-fiduciary activities as  may  be  ancillary to those activities. A trust office shall not be considered to  be a branch office pursuant to any other provisions of this chapter.

State Codes and Statutes

Statutes > New-york > Bnk > Article-1 > 2

§ 2.  Definitions.  1.  Bank.  The  term,  "bank,"  when  used in this  chapter, unless a different meaning appears from the context, means  any  corporation,  other  than a trust company, organized under or subject to  the provisions of article three of this chapter.    2. Trust company.  The  term,  "trust  company,"  when  used  in  this  chapter,  unless a different meaning appears from the context, means any  corporation or  limited  liability  trust  company  organized  under  or  subject  to  the provisions of article three of this chapter, having, in  addition to the other powers specified in such  article,  the  fiduciary  powers  specified therein. The definitions set forth in section two-b of  this article shall be utilized when the provisions of this  chapter  are  applied  to  the  formation  and  operation  of  limited liability trust  companies.    3. Private banker. The term,  "private  banker,"  when  used  in  this  chapter,  means  an  individual  or  partnership  duly authorized by the  superintendent to engage in the business of a private banker pursuant to  the provisions of article four of this chapter.    4. Savings bank. The term, "savings bank," when used in this  chapter,  means  any  corporation  organized under or subject to the provisions of  article six of this chapter. Such term shall include stock-form  savings  banks  which  shall  be subject to the provisions of article six of this  chapter to the extent  not  otherwise  provided  by  the  banking  board  pursuant  to  regulations  promulgated  under section fourteen-e of this  chapter.    6. Safe deposit company. The term, "safe deposit company,"  when  used  in this chapter, means any corporation organized under or subject to the  provisions of article eight of this chapter.    7.  Licensed  lender.  The  term, "licensed lender," when used in this  chapter, means any  person  or  other  entity  duly  authorized  by  the  superintendent  to  engage  in  business  pursuant  to the provisions of  article nine of this chapter. The terms,  "licensee,"  and  "licensees,"  when  used  in  article  nine of this chapter, mean a licensed lender or  licensed lenders.    8.  Savings  and  loan  association.  The  term,  "savings  and   loan  association," when used in this chapter, means any corporation organized  under  or subject to the provisions of article ten of this chapter. Such  term shall include stock-form savings and loan associations which  shall  be  subject  to  the  provisions  of  article ten of this chapter to the  extent  not  otherwise  provided  by  the  banking  board  pursuant   to  regulations promulgated under section fourteen-e of this chapter.    9.  Credit union. The term, "credit union," when used in this chapter,  means any corporation organized under  article  eleven  of  chapter  six  hundred  eighty-nine of the laws of nineteen hundred nine, as amended by  chapter  five  hundred  eighty-two  of  the  laws  of  nineteen  hundred  thirteen,   or   under  article  eleven  of  this  chapter.  Every  such  corporation shall be a non-stock corporation.    10. Investment company. The term, "investment company," when  used  in  this  chapter,  means  any  corporation  or limited liability investment  company organized under or subject to the provisions of  article  twelve  of  this  chapter.  The  definitions  set forth in section two-a of this  article shall be utilized  when  the  provisions  of  this  chapter  are  applied  to  the formation and operation of limited liability investment  companies.    10-a.  Mutual  trust  investment  company.  The  term  "mutual   trust  investment  company"  when  used  in  this  chapter, means an investment  company as defined by  an  act  of  congress  entitled  the  "Investment  Company  Act  of  1940", approved August twenty-second, nineteen hundred  forty, as amended, provided that (a) such company is organized under  orsubject  to  the provisions of article twelve-A of this chapter; and (b)  all of the stock and shares, other than stock or shares required by  law  to  qualify directors of such investment company, are or are to be owned  by  trust  companies  or  national  banks having trust powers and having  their principal offices within the state of New York or  their  nominees  or   the   nominees   of   such  corporate  fiduciaries  and  individual  co-fiduciaries.    11. Banking organizations. The  term,  "banking  organizations,"  when  used  in  this  chapter,  means and includes all banks, trust companies,  private bankers, savings banks, safe deposit companies, savings and loan  associations, credit unions and investment companies.    12. Time deposits. The  term,  "time  deposits,"  when  used  in  this  chapter,  and  except as provided otherwise by regulation of the banking  board, means all  deposits  the  payment  of  which  cannot  legally  be  required within fourteen days.    13.  Demand  deposits.  The term, "demand deposits," when used in this  chapter, and except as provided otherwise by regulation of  the  banking  board,  means  deposits  payment of which can legally be required within  fourteen days.    14. Net demand deposits. The term, "net demand deposits," when used in  this chapter, means the total of all deposits, and of all amounts due to  banking corporations and private bankers  and  of  all  amounts  due  on  certified  and officers' checks, letters of credit and travelers' checks  sold for cash, and for unpaid dividends, less the following items:    (a) Time deposits;    (b) Amounts due on demand from banking  corporations  organized  under  the  laws  of  the  United  States or any state of the United States and  private  bankers  other  than  a  federal  reserve  bank   and   reserve  depositaries.    15.  Reserves on hand. The term, "reserves on hand," when used in this  chapter, means the reserves against deposits kept in the  vault  of  any  banking organization.    16. Reserves on deposit. The term, "reserves on deposit," when used in  this  chapter,  means  the  reserves  against deposits maintained with a  federal reserve bank located in this state and with reserve depositaries  by any banking organization, pursuant to the provisions of this chapter.    17. Total reserves. The term, "total  reserves,"  when  used  in  this  chapter, means the aggregate of reserves on hand and reserves on deposit  maintained pursuant to the provisions of this chapter.    18.  Reserve  depositary. The term, "reserve depositary," when used in  this chapter, means a banking corporation or private  banker  designated  by the superintendent as a depositary for reserves on deposit.    19.  Stockholder.  The term, "stockholder," when used in this chapter,  unless otherwise qualified, means a person who appears by the books of a  stock corporation to be the owner and holder of one or  more  shares  of  the stock of such corporation.    20.  Shareholder.  The term, "shareholder," when used in this chapter,  means a member of a mutual savings and loan association or a member of a  credit union.    21. Population. The term, "population," when  used  in  this  chapter,  means  population  as  determined  by the latest federal census; or when  used  in  connection  with  the  words  "unincorporated   village,"   as  determined  by  the  superintendent  from  the best available sources of  information.    22. Capital stock. The  term,  "capital  stock,"  when  used  in  this  chapter  in  connection  with  any  stock  corporation  subject  to this  chapter, means the aggregate par value  of  all  outstanding  shares  of  every class.24.  Deed  of  trust.  The term "mortgage", when used in this chapter,  shall, unless the context otherwise requires, include a  deed  of  trust  securing  a  loan;  provided,  however,  that  in applying the recording  provisions of this chapter in the case of any obligation  secured  by  a  deed of trust, such provisions shall be deemed to require only that such  deed  of  trust  be  recorded  in  the  name  of the trustee or trustees  thereunder.    25. Bond and mortgage. The term "bond and mortgage", when used in this  chapter, in referring to investments in or loans secured by mortgages on  real estate, shall, unless the context  otherwise  requires,  include  a  note secured by such mortgage.    26.  Minor or infant. The term, "minor" or "infant", when used in this  chapter, shall mean a person who has not attained the  age  of  eighteen  years;  provided,  however, that such definition shall not be applicable  to any provision relating to the New York Uniform  Transfers  to  Minors  Act.    27.  Trust office. The term "trust office", when used in this chapter,  means an office of a trust company at which the activities conducted are  limited to one or more of the fiduciary activities permitted for a trust  company under this chapter and such non-fiduciary activities as  may  be  ancillary to those activities. A trust office shall not be considered to  be a branch office pursuant to any other provisions of this chapter.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-1 > 2

§ 2.  Definitions.  1.  Bank.  The  term,  "bank,"  when  used in this  chapter, unless a different meaning appears from the context, means  any  corporation,  other  than a trust company, organized under or subject to  the provisions of article three of this chapter.    2. Trust company.  The  term,  "trust  company,"  when  used  in  this  chapter,  unless a different meaning appears from the context, means any  corporation or  limited  liability  trust  company  organized  under  or  subject  to  the provisions of article three of this chapter, having, in  addition to the other powers specified in such  article,  the  fiduciary  powers  specified therein. The definitions set forth in section two-b of  this article shall be utilized when the provisions of this  chapter  are  applied  to  the  formation  and  operation  of  limited liability trust  companies.    3. Private banker. The term,  "private  banker,"  when  used  in  this  chapter,  means  an  individual  or  partnership  duly authorized by the  superintendent to engage in the business of a private banker pursuant to  the provisions of article four of this chapter.    4. Savings bank. The term, "savings bank," when used in this  chapter,  means  any  corporation  organized under or subject to the provisions of  article six of this chapter. Such term shall include stock-form  savings  banks  which  shall  be subject to the provisions of article six of this  chapter to the extent  not  otherwise  provided  by  the  banking  board  pursuant  to  regulations  promulgated  under section fourteen-e of this  chapter.    6. Safe deposit company. The term, "safe deposit company,"  when  used  in this chapter, means any corporation organized under or subject to the  provisions of article eight of this chapter.    7.  Licensed  lender.  The  term, "licensed lender," when used in this  chapter, means any  person  or  other  entity  duly  authorized  by  the  superintendent  to  engage  in  business  pursuant  to the provisions of  article nine of this chapter. The terms,  "licensee,"  and  "licensees,"  when  used  in  article  nine of this chapter, mean a licensed lender or  licensed lenders.    8.  Savings  and  loan  association.  The  term,  "savings  and   loan  association," when used in this chapter, means any corporation organized  under  or subject to the provisions of article ten of this chapter. Such  term shall include stock-form savings and loan associations which  shall  be  subject  to  the  provisions  of  article ten of this chapter to the  extent  not  otherwise  provided  by  the  banking  board  pursuant   to  regulations promulgated under section fourteen-e of this chapter.    9.  Credit union. The term, "credit union," when used in this chapter,  means any corporation organized under  article  eleven  of  chapter  six  hundred  eighty-nine of the laws of nineteen hundred nine, as amended by  chapter  five  hundred  eighty-two  of  the  laws  of  nineteen  hundred  thirteen,   or   under  article  eleven  of  this  chapter.  Every  such  corporation shall be a non-stock corporation.    10. Investment company. The term, "investment company," when  used  in  this  chapter,  means  any  corporation  or limited liability investment  company organized under or subject to the provisions of  article  twelve  of  this  chapter.  The  definitions  set forth in section two-a of this  article shall be utilized  when  the  provisions  of  this  chapter  are  applied  to  the formation and operation of limited liability investment  companies.    10-a.  Mutual  trust  investment  company.  The  term  "mutual   trust  investment  company"  when  used  in  this  chapter, means an investment  company as defined by  an  act  of  congress  entitled  the  "Investment  Company  Act  of  1940", approved August twenty-second, nineteen hundred  forty, as amended, provided that (a) such company is organized under  orsubject  to  the provisions of article twelve-A of this chapter; and (b)  all of the stock and shares, other than stock or shares required by  law  to  qualify directors of such investment company, are or are to be owned  by  trust  companies  or  national  banks having trust powers and having  their principal offices within the state of New York or  their  nominees  or   the   nominees   of   such  corporate  fiduciaries  and  individual  co-fiduciaries.    11. Banking organizations. The  term,  "banking  organizations,"  when  used  in  this  chapter,  means and includes all banks, trust companies,  private bankers, savings banks, safe deposit companies, savings and loan  associations, credit unions and investment companies.    12. Time deposits. The  term,  "time  deposits,"  when  used  in  this  chapter,  and  except as provided otherwise by regulation of the banking  board, means all  deposits  the  payment  of  which  cannot  legally  be  required within fourteen days.    13.  Demand  deposits.  The term, "demand deposits," when used in this  chapter, and except as provided otherwise by regulation of  the  banking  board,  means  deposits  payment of which can legally be required within  fourteen days.    14. Net demand deposits. The term, "net demand deposits," when used in  this chapter, means the total of all deposits, and of all amounts due to  banking corporations and private bankers  and  of  all  amounts  due  on  certified  and officers' checks, letters of credit and travelers' checks  sold for cash, and for unpaid dividends, less the following items:    (a) Time deposits;    (b) Amounts due on demand from banking  corporations  organized  under  the  laws  of  the  United  States or any state of the United States and  private  bankers  other  than  a  federal  reserve  bank   and   reserve  depositaries.    15.  Reserves on hand. The term, "reserves on hand," when used in this  chapter, means the reserves against deposits kept in the  vault  of  any  banking organization.    16. Reserves on deposit. The term, "reserves on deposit," when used in  this  chapter,  means  the  reserves  against deposits maintained with a  federal reserve bank located in this state and with reserve depositaries  by any banking organization, pursuant to the provisions of this chapter.    17. Total reserves. The term, "total  reserves,"  when  used  in  this  chapter, means the aggregate of reserves on hand and reserves on deposit  maintained pursuant to the provisions of this chapter.    18.  Reserve  depositary. The term, "reserve depositary," when used in  this chapter, means a banking corporation or private  banker  designated  by the superintendent as a depositary for reserves on deposit.    19.  Stockholder.  The term, "stockholder," when used in this chapter,  unless otherwise qualified, means a person who appears by the books of a  stock corporation to be the owner and holder of one or  more  shares  of  the stock of such corporation.    20.  Shareholder.  The term, "shareholder," when used in this chapter,  means a member of a mutual savings and loan association or a member of a  credit union.    21. Population. The term, "population," when  used  in  this  chapter,  means  population  as  determined  by the latest federal census; or when  used  in  connection  with  the  words  "unincorporated   village,"   as  determined  by  the  superintendent  from  the best available sources of  information.    22. Capital stock. The  term,  "capital  stock,"  when  used  in  this  chapter  in  connection  with  any  stock  corporation  subject  to this  chapter, means the aggregate par value  of  all  outstanding  shares  of  every class.24.  Deed  of  trust.  The term "mortgage", when used in this chapter,  shall, unless the context otherwise requires, include a  deed  of  trust  securing  a  loan;  provided,  however,  that  in applying the recording  provisions of this chapter in the case of any obligation  secured  by  a  deed of trust, such provisions shall be deemed to require only that such  deed  of  trust  be  recorded  in  the  name  of the trustee or trustees  thereunder.    25. Bond and mortgage. The term "bond and mortgage", when used in this  chapter, in referring to investments in or loans secured by mortgages on  real estate, shall, unless the context  otherwise  requires,  include  a  note secured by such mortgage.    26.  Minor or infant. The term, "minor" or "infant", when used in this  chapter, shall mean a person who has not attained the  age  of  eighteen  years;  provided,  however, that such definition shall not be applicable  to any provision relating to the New York Uniform  Transfers  to  Minors  Act.    27.  Trust office. The term "trust office", when used in this chapter,  means an office of a trust company at which the activities conducted are  limited to one or more of the fiduciary activities permitted for a trust  company under this chapter and such non-fiduciary activities as  may  be  ancillary to those activities. A trust office shall not be considered to  be a branch office pursuant to any other provisions of this chapter.