State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 380-h

§ 380-h.  Trust  powers.  1.  The  banking  board  is  authorized  and  empowered to grant permission to  a  savings  and  loan  association  to  exercise any or all of the powers specified in sections one hundred, one  hundred-a,  one  hundred-b and one hundred-c of this chapter. In passing  upon applications for  permission  to  exercise  any  such  powers,  the  banking  board  may take into consideration the amount of surplus of the  applying association, whether or not such surplus  is  sufficient  under  the  circumstances  of the case, the needs of the community to be served  and any other facts and circumstances that seem to it  proper,  and  may  grant or refuse it permission accordingly.    2. Whenever the laws of this state require a trust company acting in a  fiduciary  capacity to deposit securities with the state authorities for  the  protection  of  private  or  court  trusts,  a  savings  and   loan  association,  so  acting,  is  empowered  to  make  similar  deposits of  securities.    4. The banking board is authorized to promulgate such  regulations  as  it  may  deem  necessary  or  proper to implement the provisions of this  section and the proper exercise of the powers granted by this section.

State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 380-h

§ 380-h.  Trust  powers.  1.  The  banking  board  is  authorized  and  empowered to grant permission to  a  savings  and  loan  association  to  exercise any or all of the powers specified in sections one hundred, one  hundred-a,  one  hundred-b and one hundred-c of this chapter. In passing  upon applications for  permission  to  exercise  any  such  powers,  the  banking  board  may take into consideration the amount of surplus of the  applying association, whether or not such surplus  is  sufficient  under  the  circumstances  of the case, the needs of the community to be served  and any other facts and circumstances that seem to it  proper,  and  may  grant or refuse it permission accordingly.    2. Whenever the laws of this state require a trust company acting in a  fiduciary  capacity to deposit securities with the state authorities for  the  protection  of  private  or  court  trusts,  a  savings  and   loan  association,  so  acting,  is  empowered  to  make  similar  deposits of  securities.    4. The banking board is authorized to promulgate such  regulations  as  it  may  deem  necessary  or  proper to implement the provisions of this  section and the proper exercise of the powers granted by this section.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-10 > 380-h

§ 380-h.  Trust  powers.  1.  The  banking  board  is  authorized  and  empowered to grant permission to  a  savings  and  loan  association  to  exercise any or all of the powers specified in sections one hundred, one  hundred-a,  one  hundred-b and one hundred-c of this chapter. In passing  upon applications for  permission  to  exercise  any  such  powers,  the  banking  board  may take into consideration the amount of surplus of the  applying association, whether or not such surplus  is  sufficient  under  the  circumstances  of the case, the needs of the community to be served  and any other facts and circumstances that seem to it  proper,  and  may  grant or refuse it permission accordingly.    2. Whenever the laws of this state require a trust company acting in a  fiduciary  capacity to deposit securities with the state authorities for  the  protection  of  private  or  court  trusts,  a  savings  and   loan  association,  so  acting,  is  empowered  to  make  similar  deposits of  securities.    4. The banking board is authorized to promulgate such  regulations  as  it  may  deem  necessary  or  proper to implement the provisions of this  section and the proper exercise of the powers granted by this section.