N.Y. Banking Law § 490-E Powers and Duties of Trustee Or Trustees

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 777
• Year: 2023
• Citation: N.Y. Banking Law § 490-E

It shall be the duty of the corporate trustee or the board of trustees, as the case may be, to collect the initial contribution to the fund, to call for, and to collect by legal proceedings if necessary, such subsequent contributions as become payable under the terms of the agreement, and to administer the fund so created in accordance with the terms of the agreement. Such part of the fund as is not required to be kept on hand or in bank for the purpos...