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- Article 10-B. Savings and Loan Bank of the State of New York
N.Y. Banking Law § 439 Membership; Liability; Transfer of Shares
| Library | New York Statutes |
| Edition | 2023 |
| Currency | Current through 2023 NY Law Chapter 777 |
| Year | 2023 |
| Citation | N.Y. Banking Law § 439 |
1. Membership in the savings and loan bank shall be limited to savings and loan associations, except, that the directors of the savings and loan bank may, in their discretion, permit federal savings and loan associations located in this state to be or become members of the savings and loan bank. Every member shall pay one hundred dollars for each share of the capital of the savings and loan bank issued to it.
2. Members of the savings and loan bank shall not be individually liable for the payment of its debts.
3. S...
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