State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 674-a

§ 674-a.  Unlawful undertakings. 1. Every undertaking, whether written  or oral, express or implied, constituting or  contained  in  a  contract  heretofore  or hereafter entered into, directly or indirectly, between a  banking   organization,   bank   holding   company,   national   banking  association,  federal  savings  and  loan association or foreign banking  corporation and the owner of an interest in real property located in the  state,  which  bars  such  owner  from  leasing,  selling  or  otherwise  disposing  of  any  interest  in  real  property  to  any  other banking  organization,  bank  holding  company,  national  banking   association,  federal  savings  and  loan  association  or foreign banking corporation  shall be null and void.    2. Any banking organization, bank holding  company,  national  banking  association,  federal  savings  and  loan  association,  foreign banking  corporation or any other entity or person injured  in  his  business  or  property  by  reason  of  an  undertaking which violates subdivision one  hereof may sue on account thereof and be entitled to recover three times  the amount of the damages sustained, and the  cost  of  suit,  including  reasonable attorneys' fees.    3.  If  any  provision  of  this  section,  or the application of such  provision to any individual, company  or  circumstance,  shall  be  held  invalid,  the  remainder  of  this  section, and the application of such  section to individuals, companies or circumstances other than  those  to  which it is held invalid, shall not be affected thereby.

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 674-a

§ 674-a.  Unlawful undertakings. 1. Every undertaking, whether written  or oral, express or implied, constituting or  contained  in  a  contract  heretofore  or hereafter entered into, directly or indirectly, between a  banking   organization,   bank   holding   company,   national   banking  association,  federal  savings  and  loan association or foreign banking  corporation and the owner of an interest in real property located in the  state,  which  bars  such  owner  from  leasing,  selling  or  otherwise  disposing  of  any  interest  in  real  property  to  any  other banking  organization,  bank  holding  company,  national  banking   association,  federal  savings  and  loan  association  or foreign banking corporation  shall be null and void.    2. Any banking organization, bank holding  company,  national  banking  association,  federal  savings  and  loan  association,  foreign banking  corporation or any other entity or person injured  in  his  business  or  property  by  reason  of  an  undertaking which violates subdivision one  hereof may sue on account thereof and be entitled to recover three times  the amount of the damages sustained, and the  cost  of  suit,  including  reasonable attorneys' fees.    3.  If  any  provision  of  this  section,  or the application of such  provision to any individual, company  or  circumstance,  shall  be  held  invalid,  the  remainder  of  this  section, and the application of such  section to individuals, companies or circumstances other than  those  to  which it is held invalid, shall not be affected thereby.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-d > 674-a

§ 674-a.  Unlawful undertakings. 1. Every undertaking, whether written  or oral, express or implied, constituting or  contained  in  a  contract  heretofore  or hereafter entered into, directly or indirectly, between a  banking   organization,   bank   holding   company,   national   banking  association,  federal  savings  and  loan association or foreign banking  corporation and the owner of an interest in real property located in the  state,  which  bars  such  owner  from  leasing,  selling  or  otherwise  disposing  of  any  interest  in  real  property  to  any  other banking  organization,  bank  holding  company,  national  banking   association,  federal  savings  and  loan  association  or foreign banking corporation  shall be null and void.    2. Any banking organization, bank holding  company,  national  banking  association,  federal  savings  and  loan  association,  foreign banking  corporation or any other entity or person injured  in  his  business  or  property  by  reason  of  an  undertaking which violates subdivision one  hereof may sue on account thereof and be entitled to recover three times  the amount of the damages sustained, and the  cost  of  suit,  including  reasonable attorneys' fees.    3.  If  any  provision  of  this  section,  or the application of such  provision to any individual, company  or  circumstance,  shall  be  held  invalid,  the  remainder  of  this  section, and the application of such  section to individuals, companies or circumstances other than  those  to  which it is held invalid, shall not be affected thereby.