State Codes and Statutes

Statutes > New-york > Bnk > Article-13-e > 677

§ 677.  Decedents' accounts, withdrawals by authorized persons. 1. The  maximum withdrawal permissible by law for purposes of this section shall  be the  amount  permitted  to  be  paid,  without  the  consent  of  the  commissioner  of  taxation  and  finance,  under  rules  or  regulations  promulgated  by  such  commissioner  pursuant  to  section  one  hundred  seventy-one of the tax law.    3.  Notwithstanding  the foregoing, no banking organization or foreign  banking corporation shall be required to make any  payment  pursuant  to  this  section  if  (a) it has notice of an adverse claim with respect to  any such savings or time deposits or shares standing on its books to the  credit of the decedent, or (b) there is in effect an  order,  injunction  or  other  appropriate  process  of  a  court  of competent jurisdiction  restraining such payment, or (c) it has notice that such  payment  would  violate  the  terms  of  a legal and valid trust, or (d) such payment is  inconsistent with any federal laws or regulations.    4. Such payments  as  any  banking  organization  or  foreign  banking  corporation  is  required  to  make  pursuant to this section shall be a  valid and sufficient release and discharge to such banking  organization  or foreign banking corporation for any payment so made.

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-e > 677

§ 677.  Decedents' accounts, withdrawals by authorized persons. 1. The  maximum withdrawal permissible by law for purposes of this section shall  be the  amount  permitted  to  be  paid,  without  the  consent  of  the  commissioner  of  taxation  and  finance,  under  rules  or  regulations  promulgated  by  such  commissioner  pursuant  to  section  one  hundred  seventy-one of the tax law.    3.  Notwithstanding  the foregoing, no banking organization or foreign  banking corporation shall be required to make any  payment  pursuant  to  this  section  if  (a) it has notice of an adverse claim with respect to  any such savings or time deposits or shares standing on its books to the  credit of the decedent, or (b) there is in effect an  order,  injunction  or  other  appropriate  process  of  a  court  of competent jurisdiction  restraining such payment, or (c) it has notice that such  payment  would  violate  the  terms  of  a legal and valid trust, or (d) such payment is  inconsistent with any federal laws or regulations.    4. Such payments  as  any  banking  organization  or  foreign  banking  corporation  is  required  to  make  pursuant to this section shall be a  valid and sufficient release and discharge to such banking  organization  or foreign banking corporation for any payment so made.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Bnk > Article-13-e > 677

§ 677.  Decedents' accounts, withdrawals by authorized persons. 1. The  maximum withdrawal permissible by law for purposes of this section shall  be the  amount  permitted  to  be  paid,  without  the  consent  of  the  commissioner  of  taxation  and  finance,  under  rules  or  regulations  promulgated  by  such  commissioner  pursuant  to  section  one  hundred  seventy-one of the tax law.    3.  Notwithstanding  the foregoing, no banking organization or foreign  banking corporation shall be required to make any  payment  pursuant  to  this  section  if  (a) it has notice of an adverse claim with respect to  any such savings or time deposits or shares standing on its books to the  credit of the decedent, or (b) there is in effect an  order,  injunction  or  other  appropriate  process  of  a  court  of competent jurisdiction  restraining such payment, or (c) it has notice that such  payment  would  violate  the  terms  of  a legal and valid trust, or (d) such payment is  inconsistent with any federal laws or regulations.    4. Such payments  as  any  banking  organization  or  foreign  banking  corporation  is  required  to  make  pursuant to this section shall be a  valid and sufficient release and discharge to such banking  organization  or foreign banking corporation for any payment so made.